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AppraisalTrac is Integrated with Basis100
Solimar Valuation Technology
AppraisalTrac, the web-based workflow application for the mortgage banking industry, has added integration with Basis100's Automated Valuation Technology. This feature will allow mortgage lenders access to automated valuations (AVM) that may help them improve their mortgage lending process.
CONCORD, CA -- April 24, 2001 -- Dattar Systems, Inc., an e-commerce solution provider, announced today the integration of AppraisalTrac, its Web-based collateral services workflow application, and Basis100 Inc.s (BAS: TSE) Solimar Valuation Technology for automated property valuations.
The integration enables AppraisalTrac, used by lenders to improve workflow, to seamlessly interface with Basis 100s automated property valuation technology. The interface allows lenders access to Solimar Technology valuations as part of their everyday AppraisalTrac use.
The addition of an automated valuation interface allows our system users access to technology that helps speed up the loan origination process without sacrificing property value confidence," said Dattar CEO Karl Dattar. After extensive review of the choices in automated valuation, were confident that Solimar Valuation Technology provides the most accurate coverage nationally."
AppraisalTrac is a collateral services workflow application that offers the benefits of a collaborative Web workspace for Lenders and their service partners. Dattar Systems dynamic delivery methodology makes it possible for Lenders to have their own customized workflow application and database operating in as little as one week.
By combining statistical correlation, appraisal emulation and price indexing, Basis100s Solimar Technology generates accurate property valuations in real time via the Internet. Solimar Technology reaches approximately 85 percent of the residential properties in the United States, providing valuations for more than 90 million homes.
Dattars AppraisalTrac allows lenders to streamline workflow, increasing efficiency in loan processing," said Basis100 Chairman and CEO Gary Bartholomew. Our technology was developed with many of the same goals in mind and its integration with AppraisalTrac offers Lenders another avenue to access Solimar Technology for fast, accurate automated valuations."
Because AppraisalTrac was developed from the ground-up to run on the Internet, it is secure, reliable and can be accessed through any browser. The only requirement to use AppraisalTrac is access to the Internet through a compatible Web-browser.
About Dattar Systems, Inc.
Dattar Systems, Inc. is located in Concord, California. The company provides information technology to the financial, communications and software sectors. For additional information on AppraisalTrac or Dattar Systems, Inc. visit their web site at http://www.appraisaltrac.com or http://www.dattar.com.
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 www.Basis100.com.
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For more information, please contact:
Dave Campbell Daniel-Robert Gooch
Chief Financial Officer and Investor Relations Media Relations
Basis100 Inc. Basis100 Inc.
(416) 364-6085 Ext 104 (678) 781-7214
dcampbell@basis100.com dgooch@basis100.com
Karl Dattar
Dattar Systems, Inc.
(925) 688-1250
info@appraisaltrac.com
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