SOURCE: Portellus, Inc.

June 06, 2007 06:04 ET

Portellus Offers CollateralLogic Service for Appraisal Automation

Solution Speeds Up Appraisal Reviews; Identifies, Quantifies and Scores Collateral Risk

IRVINE, CA--(Marketwire - June 6, 2007) - Portellus, Inc., a leader in business-user driven change-management solutions, today announced it will offer CollateralLogic, a transaction-based service that automatically reviews appraisal reports against guidelines for fast, accurate risk identification and scoring. The solution allows lenders and investors to mitigate risk, realize best execution, minimize fraud and achieve straight through processing (STP) of appraisal reviews.

Traditionally, appraisal reviews are a laborious, time consuming and risky process whereby numerous data points must be manually evaluated. This method is difficult to manage and consequently creates a high margin for error, which can result in funding a loan with risky collateral.

CollateralLogic works by using automated data capture to extract all key data points off a PDF or scanned appraisal report, then translates the data to XML, stores it to a database, and runs the information against a rules engine. The engine houses customer specific risk tolerance guidelines and a library of specific logic verification. CollateralLogic's evaluation results include flagged risks along with explanations behind each issue, thus allowing users to immediately identify a detailed process for risk resolution and informed decisioning.

"CollateralLogic allows lenders and investors of all sizes to evaluate and score collateral in a similar fashion that credit is decisioned -- with precision-based accuracy," said Robert Palmer, founder and CEO of ValuationLogic. "With everything that's happened with the industry's downturn, now more than ever, there is a huge need in the marketplace to more thoroughly evaluate collateral risk. CollateralLogic can be set up in about 15 minutes to allow organizations to begin leveraging a powerful scoring engine that returns appraisal evaluations in about 60 seconds."

"Teaming up with ValuationLogic made a great deal of sense given the increasing need to maximize best execution on the secondary market and minimize instances of kicked back loans," said John N. Le, chairman and CEO of Portellus. "Portellus has built a state-of-the-art infrastructure and support system, which allows us to quickly market and deliver CollateralLogic to lenders and investors, thus making our relationship a very logical business decision. The fact that we can now offer our LOS clients an integrated collateral analysis module adds more value to our comprehensive solution and further differentiates us in the marketplace."

Key benefits of CollateralLogic include:

--  Eliminates the re-keying of data
--  Speeds up the appraisal review process
--  Fully automates appraisal rules and scoring
--  Renders exceptions back to the appraisal reviewer and/or underwriter
--  Easy-to-read and understand scoring report
--  Accurately assesses collateral risk on loans sold to investors
--  Reduces loan risks
    

About ValuationLogic

ValuationLogic is a technology company that offers a suite of residential collateral analysis solutions. The focus of these tools is to bring automation to the review of residential appraisal reports and accelerate the identification of risk issues. By automating risk identification and the scoring of the individual risks at the customer level, users of appraisal reports can more rapidly, consistently and efficiently make collateral related decisions. For more information, visit us at www.valuationlogic.com.

About Portellus

Portellus, Inc. is a leading provider of next-generation technology solutions for industries requiring the automation of numerous complex business decisions. The company's Enterprise Rules Management (ERM) system, Web Portals and vertical market solutions utilize a service-oriented architecture (SOA) to deliver loosely coupled applications and flexible solutions, enabling clients to gain competitive advantages, reduce costs, mitigate risk, increase profitability, comply with regulatory requirements and swiftly respond to marketplace dynamics. Portellus' solutions are in production with mortgage bankers, financial institutions, insurance companies, due diligence firms and Wall Street investors. For more information, visit www.portellus.com or call 949-250-9600.

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