F.R.E.D. Joins National Real Estate

NREIS Introduces “Fast, Reliable, Electronic Data” Portal to Provide AVM’s

Pittsburgh, PA (May 12, 2008)—National Real Estate Information Services (NREIS), one of the country’s largest, privately-held vendor management companies, introduces F.R.E.D., its “Fast, Reliable, Electronic Data” interactive web portal. This new service provides mortgage originators of any size the ability to order automated valuation models (AVM’s) through a self service website.

F.R.E.D. gives lenders and brokers the ability to input requests individually or to bulk upload several orders at once. Individual orders are available on-screen immediately. Bulk orders are accessible as they process and an email notification is sent upon order completion. An experienced Alternative Valuation Specialist is available to help users customize their AVM cascade based on multiple criteria such as cost and coverage area. The platform offers a matrix of sixteen decisioning models from the industry’s most trusted providers, and unique cascading tools for hard-to-find properties, providing users with maximum control for setting and editing criteria. F.R.E.D.’s cascade models allow flexibility on a variety of loan amounts, lien positions and property types.

“F.R.E.D. benefits our customers by making the AVM process more convenient and affordable,” said Michael E. Forgas, President and COO of National Real Estate. “Without the need for contracts or volume commitments, mortgage originators of all sizes can decrease costs and reduce risk by leveraging the benefits of industry-leading AVM reports.”

The F.R.E.D. web portal has an easy to use interface, and is designed to be used by lenders of any size, allowing small to medium sized lenders to compete favorably with the biggest originators. A user can sign in to the site, input an address and receive a report in seconds.

NREIS also offers a warranted valuation product, SUREvalue. This proprietary warranty product allows flexibility on the widest variety of loan values, lien positions and property types. SUREvalue is structured to cover overvaluation losses, including foreclosure-related expenses.
Learn more about F.R.E.D. at www.nreisFRED.com.

About NREIS

Over the last 26 years, NREIS has supported both the residential and commercial mortgage and real estate industries through a custom service model, easy-to-use technology, and comprehensive products. NREIS’ products and services include title insurance and property reports, real estate appraisals and alternative valuation products, settlement and closing services, property preservation and asset management, and flood and tax certifications. For more information, visit www.nreis.com.

Contact:

Bill Rossi, EVP Sales & Marketing
412.808.1746

Download the downloadable version of the F.R.E.D. Press Release.