Veros Real Estate Solutions, a mortgage technology provider, has announced that it will provide the US Department of Veterans Affairs with appraisal services as part of the VA Home Loan Guaranty program.
The department awarded Veros the Appraisal Management Services contract. Veros said that the contract aims to enhance VA's appraisal process and make it easier for military veterans to obtain home loans.
"The Department of Veterans Affairs fulfills the American dream of homeownership for our nation’s veterans," said Darius Bozorgi, president and chief executive officer of Veros. "It’s an honor for Veros to be selected for our valuation expertise and risk management capabilities to enable a more efficient VA loan process. Through our solutions and fueled by our admiration for those who have served our nation, we look forward to helping veterans realize that dream."
The program will focus on efficiencies related to the appraisal scheduling, tracking, and completion process. Veros will also work with the department to improve collateral data collection, risk review analytics, and lower the overall risk associated with VA loans.
"We look forward to benefiting from the experience Veros has amassed in working with the GSEs and FHA," said Jeffrey London, executive director of VA's loan guaranty service.