SAN ANTONIO, Texas, April 6, 2011 /PRNewswire/ -- LendingXpress, an SWBC Company, and Integrated Asset Services (IAS) announced today that the firms have formed a strategic relationship to market real estate valuation products that meet the new interagency guidelines for home equity lending.
Under the arrangement, LendingXpress will be the exclusive marketing partner for a warranted version of IAS's Conditioned Valuation Model (CVM). The warranted CVM meets all of the new guidelines that were established earlier this year requiring lenders using data-driven valuations to factor the current condition of the property into the final value. The valuation is further enhanced with the inclusion of a third-party insurance-backed warranty.
"LendingXpress is proud to strengthen our relationship with IAS," said Ted Robinson, SVP and General Manager of LendingXpress. "The warranted CVM not only meets all of the new guidelines which are prompting equity lenders to rush to become compliant, it also offers the lender an added measure of risk mitigation by the inclusion of a third-party warranty backed by an AM Best 'A Excellent'- rated insurer."
"IAS introduced the CVM product two years ago after recognizing the need to include factors for current property and market conditions in the calculations of data-driven valuations," said Ryan Tomazin, President of IAS. "We feel that our expanded relationship with LendingXpress, and its parent company SWBC, will take the CVM to the next level with an inclusion of a warranty and a strong channel marketing partner in LendingXpress and SWBC."
Both organizations believe that this is a significant opportunity based on the timing of new regulations and the projected growth in equity lending over the next 24 months.
About SWBC
Headquartered in San Antonio, SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states. For more information, please visit SWBC's website at www.swbc.com.
About IAS
Integrated Asset Services (IAS) offers full service, end-to-end mortgage service solutions, including valuation and data analytics. The company's i-Series® collateral valuation platform delivers a comprehensive combination of collateral valuation services that individually offer distinct and critical data, and when combined, a complete view of market volatility, local expert opinions, and subject value. Its data analytics provide vital data on the U.S. residential housing market. For more information, please visit IAS' website at www.iasreo.com.
SOURCE SWBC
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