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PLATINUMdata Formally Introduces REALviewâ„¢ at MBA Annual Convention & Expo

Monday, October 12, 2009

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SAN DIEGO--(BUSINESS WIRE)--PLATINUMdata, a collateral solutions provider to the financial industry, announced its latest automated appraisal review product – REALview – at the Mortgage Bankers Association’s (MBA’s) 96th Annual Convention & Expo.

The technology, which is designed to automate and standardize the appraisal review process while adhering to Uniform Standards of Professional Appraisal Practice (USPAP) and ensuring compliance with Government Sponsored Enterprise (GSE) and Federal Housing Administration (FHA) guidelines, features a number of key features that benefit financial institutions by:

• Completing quickly a uniform review of the appraisal and identifying issues, if any
• Facilitating the implementation of sound and efficient collateral review policies and procedures
• Enhancing the quality and validity of appraisals by running numerous data points against the appraiser-provided data
• Enabling customization of investor specific appraisal guidelines (including defined soft markets and DNU lists)
• Tracking appraisers’ performance in local markets
• Verifying appraisers’ state licensing status
• Creating rules and logic to route the appraisal to appropriate processor(s)
• Using local market data to ensure appraisals include most relevant information available

“Gone are the days when lenders and investors simply ‘looked’ at property appraisals. Today, much more attention is focused on various other details that effect true property values,” said Rocky Donathan, president of PLATINUMdata. “REALview is the kind of technology that institutions must have in place to cost-effectively and efficiently manage new quality control standards and other numerous changes that have taken place in the lending and appraisal processes. REALview can significantly reduce buyback repurchases by improving the quality of the appraisal that the investor receives, the comprehensive automated review of market risks and the validation of the information provided by the appraiser through the multiple data sources contained within REALview.”

About PLATINUMdata

PLATINUMdata provides next generation collateral solutions for the mortgage industry. Founded on the traditional principles of customer service, PLATINUMdata focuses on meeting its customer’s needs by delivering convenient, easy-to-use property valuation and collateral assessment resources. The platform is a highly configurable and scalable channel for multiple premier collateral risk assessment products and detailed data analytics, allowing its integration with legacy business processes and workflows. When administered in accordance with strategic business and compliance guidelines, the platform supports an organization’s risk and cost management, quality control and human resource functions. To learn more about PLATINUMdata, its products and services, please contact Jay Phillips, vice president of Relationship Management at jayphillips@platdata.com or visit the company’s Web site at www.platdata.com.

Source: BUSINESS WIRE