ValuFinders Awarded Contract with Small Business Administration
* Reuters is not responsible for the content in this press release.
Valuation Expert to Provide Legal, Vesting Data for Disaster
Recovery Loans
CULVER CITY, Calif.--(Business Wire)--ValuFinders, Inc., a valuation services provider to national
lenders and government agencies, was recently awarded a four-year U.S.
Small Business Administration (SBA) contract to provide legal and
vesting property data to support the SBA Disaster Assistance Program.
For the past 55 years, SBA has been a primary supplier of disaster
recovery assistance through its Disaster Loan Program (DLP) that helps
homeowners, renters and businesses rebound from disasters, such as
earthquakes, hurricanes and/or terrorist attacks. ValuFinders is one
of three companies including First American Federal Solutions and
Equifax Information Services awarded contracts by the SBA to provide
information.
"Being selected by SBA to provide legal and vesting property data
further validates the true benefits of our products and services,"
said Joe Williams, president and CEO, ValuFinders. "Our contribution
to SBA's efforts to assist families and businesses start the process
of helping them recreate some stability in their lives after a
disaster is fulfilling."
SBA will use the ValuFinders system to generate reports to verify
real property data, including date and type of deed, consideration and
grantor/grantee information. Data is used to verify that the title is
in the borrower's name when an application for disaster assistance is
filed because the borrower's property is used as collateral to
guarantee the loan.
This information is vital to the SBA in closing loans faster and
distributing assistance to disaster victims.
Recently, ValuFinders conducted an orientation for SBA staff to
train employees on how to use its Web-based system through its Web
site, www.valufinders.com.
In addition to the Web-based system, ValuFinders offers Appraisal
CONCIERGE, an outsourcing appraisal ordering service that allows
lenders to use a "blind draw" system to randomly select a licensed
appraiser. "The random selection feature of our Appraisal CONCIERGE
system assures the independence of the appraiser and that in turn
assures that an appraisal report will reflect the true market value of
a property and will be free of any undue influences or pressures,"
Williams said.
About ValuFinders, Inc.
Founded in 1999, Culver City, Calif.-based ValuFinders, Inc. has
provided real estate collateral risk management products, including
automated valuation models (AVMs), quality control reviews, collateral
assessment, Web-based property tracking and technology services to
major corporations and government agencies, including Countrywide Home
Loans, Wells Fargo Bank and the Small Business Administration and
Department of Housing Urban Development (HUD).
ValuFinders began its work with HUD in 1999, and provides HUD
technology to track and manage its nationwide inventory of REO
properties. The company also works with mortgage lenders, credit
unions, government agencies and investors.
For more information about ValuFinders Inc., visit the company's
Web site at www.valufinders.com or call 800.649.6680.
For ValuFinders, Inc.
Media Contacts
Charlyne H. McWilliams, 301-933-5567
or
Will Davison, 240-242-4041
Copyright Business Wire 2008
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.



Follow Reuters