Media Contact: Howard Franklin
Vice President: Greg Sullivan
Imperial Lending Leverages Electronic Appraiser to Launch Lending Program
Boca Raton, Florida, July 22, 2004 – Valuation technology provider Electronic Appraiser today announced that Colorado-based Imperial Lending has chosen AVMLink, which provides access to the several of nation’s leading property data repositories with a convenient single interface, to launch the lender’s Special Circumstance Loan Program.
“AVMLink enables us to introduce our Special Circumstance Loan Program with nationwide coverage, while avoiding the hassle of using several different vendors and interfaces,” said Holt Crowder, senior vice president of Imperial Lending. “Accuracy is essential in special circumstances, especially foreclosures, where lenders must rely on precise values to protect their investments.”
Using information from all major property data providers, AVMLink leverages ‘cascading technology’ to supplement incomplete reports with additional data and deliver the industry’s highest hit rate. Imperial Lending also uses Electronic Appraiser’s PhotoCheck product, which combines a professional site inspection with an exterior digital photograph and property condition report. Combining PhotoCheck and AVMLink enables Imperial Lending to reduce the costs and limitations normally associated with broker price opinions (BPOs) while reducing risk.
“We are excited to see lenders take advantage of the product suite’s full range of capabilities,” said Greg Sullivan, vice president of Electronic Appraiser. “This is further evidence that visual confirmation and real-time data choices pose far-reaching implications for the valuation industry and the growing uses for AVM’s.”
About Electronic Appraiser
Electronic Appraiser is a Florida-based valuation technology provider featuring PhotoCheck, an electronic property photo combined with an automated valuation model (AVM) in an easy-to-read report, and AVMLink, which provides access to several leading property data repositories through a convenient, single interface. The company offers traditional AVMs and/or PhotoCheck, depending on the lender’s need. For more information, write to Electronic Appraiser, 2200 North Federal Highway, Suite 203, Boca Raton, Florida 33431; call 561-338-1890 or 800-570-3767 or visit us on the web at www.electronicappraiser.com.
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About Imperial Lending, LLC
Established in January 2000, Imperial Lending, LLC is a Colorado-based sub-prime mortgage lender. The company recently launched a Special Circumstance Loan Program (SCL) that helps homeowners with at least 20% equity to obtain financing-even during foreclosure. Because Imperial Lending believes that anyone can fall on hard times, it helps families’ protect their most precious investment, their home and its equity. The management team leverages more than 30 years of combined experience in the residential mortgage lending industry to build solid relationships with investors, bankers and mortgage brokers. For more information, write to Imperial Lending, LLC, 425 N. Wilcox St. 2nd Floor, Castle Rock, CO 80104 or call (303) 663-4526.