Transamerica Flood and Basis100 Launch Automated Valuation-Based Preliminary Screening Tool

Basis100's Solimar Valuation Technology added to Transamerica flood

hazard determinations for new early-warning service



Apr 17, 2001, 01:00 ET from Transamerica Flood Hazard Certification, Inc., Basis100 Inc.

    SAN FRANCISCO, April 17 /PRNewswire/ - Transamerica Flood Hazard
 Certification, Inc., a leading flood hazard determination provider, and
 Basis100, Inc, a leading e-commerce technology solutions provider, announced
 today a joint automated-valuation-based flood hazard determination tool for
 real estate professionals.
     Announced today at the Mortgage Banker's Association's annual Technology
 Conference, the organizations are integrating Transamerica Flood's Internet-
 based flood hazard determinations with Basis100's Solimar Valuation Technology
 for automated residential property valuations. The result is a new preliminary
 screening tool for lenders, appraisers, and other real estate professionals to
 determine flood risk and collateral value earlier in the loan process.
     Said Tom Della Torre, Transamerica Flood president, "Basis100's Solimar
 Valuation Technology is the clear accuracy and coverage leader in the
 automated valuation industry. Adding its AVM technology to our suite of
 eFlood(R) products provides our customers with a flood hazard determination
 tool that anticipates the future direction of mortgage lending technology."
     "2001 is quickly becoming the year in which automated valuations gain
 acceptance in all corners of the real estate and mortgage arenas, and flood
 determination is an obvious avenue for innovative use of our technology," said
 Basis100 Chairman and CEO Gary Bartholomew. "As an acknowledged leader in
 accurate flood hazard determinations nationwide, Transamerica is a natural
 partner with which to lead the growth of automated valuations into risk
 management."
     Transamerica Flood determinations are produced by Flood Insights(R), an
 Internet-based product which includes such necessary data elements as
 community number, flood map panel number and date, and flood zone. Also
 included is a map of the area around the subject property with the Special
 Flood Hazard Areas as shown on the relevant FEMA Flood Insurance Rate Map.
     Initially, clients will access standard versions of the Flood
 Insights(TM) product and PASSLite valuation reporting from the company's
 respective websites. Both Transamerica Flood and Basis100 view this new
 agreement as the first part of a multi-faceted strategy and are continuing to
 explore additional joint product developments for the financial services
 industry.
 
     About Transamerica Flood
 
     Headquartered in Hasbrouck Heights, New Jersey, Transamerica Flood Hazard
 Certification, Inc., a division of Transamerica Finance Corporation, an Aegon
 Company, is a market leader in providing flood determination services to the
 mortgage lending industry. Transamerica Finance Corporation's parent, AEGON,
 NV, is one of the world's largest listed insurance and related financial
 services organizations in the world with over $230 Billion in assets.
 Transamerica Flood is on the Web at http://www.transamerica.com/FloodHazard .
 
     About Basis100
 
     Basis100 is a leading e-commerce technology solution provider for
 financial institutions and service providers enabling them to build,
 distribute, buy and sell their products and services in new ways. Basis100 is
 focused on the mortgage origination, consumer credit, fixed income trading,
 and service vendor markets across North America. For more information about
 Basis100, visit http://www.basis100.com
 
 

SOURCE Transamerica Flood Hazard Certification, Inc., Basis100 Inc.
    SAN FRANCISCO, April 17 /PRNewswire/ - Transamerica Flood Hazard
 Certification, Inc., a leading flood hazard determination provider, and
 Basis100, Inc, a leading e-commerce technology solutions provider, announced
 today a joint automated-valuation-based flood hazard determination tool for
 real estate professionals.
     Announced today at the Mortgage Banker's Association's annual Technology
 Conference, the organizations are integrating Transamerica Flood's Internet-
 based flood hazard determinations with Basis100's Solimar Valuation Technology
 for automated residential property valuations. The result is a new preliminary
 screening tool for lenders, appraisers, and other real estate professionals to
 determine flood risk and collateral value earlier in the loan process.
     Said Tom Della Torre, Transamerica Flood president, "Basis100's Solimar
 Valuation Technology is the clear accuracy and coverage leader in the
 automated valuation industry. Adding its AVM technology to our suite of
 eFlood(R) products provides our customers with a flood hazard determination
 tool that anticipates the future direction of mortgage lending technology."
     "2001 is quickly becoming the year in which automated valuations gain
 acceptance in all corners of the real estate and mortgage arenas, and flood
 determination is an obvious avenue for innovative use of our technology," said
 Basis100 Chairman and CEO Gary Bartholomew. "As an acknowledged leader in
 accurate flood hazard determinations nationwide, Transamerica is a natural
 partner with which to lead the growth of automated valuations into risk
 management."
     Transamerica Flood determinations are produced by Flood Insights(R), an
 Internet-based product which includes such necessary data elements as
 community number, flood map panel number and date, and flood zone. Also
 included is a map of the area around the subject property with the Special
 Flood Hazard Areas as shown on the relevant FEMA Flood Insurance Rate Map.
     Initially, clients will access standard versions of the Flood
 Insights(TM) product and PASSLite valuation reporting from the company's
 respective websites. Both Transamerica Flood and Basis100 view this new
 agreement as the first part of a multi-faceted strategy and are continuing to
 explore additional joint product developments for the financial services
 industry.
 
     About Transamerica Flood
 
     Headquartered in Hasbrouck Heights, New Jersey, Transamerica Flood Hazard
 Certification, Inc., a division of Transamerica Finance Corporation, an Aegon
 Company, is a market leader in providing flood determination services to the
 mortgage lending industry. Transamerica Finance Corporation's parent, AEGON,
 NV, is one of the world's largest listed insurance and related financial
 services organizations in the world with over $230 Billion in assets.
 Transamerica Flood is on the Web at http://www.transamerica.com/FloodHazard .
 
     About Basis100
 
     Basis100 is a leading e-commerce technology solution provider for
 financial institutions and service providers enabling them to build,
 distribute, buy and sell their products and services in new ways. Basis100 is
 focused on the mortgage origination, consumer credit, fixed income trading,
 and service vendor markets across North America. For more information about
 Basis100, visit http://www.basis100.com
 
 SOURCE Transamerica Flood Hazard Certification, Inc., Basis100 Inc.