For additional information contact:
Michelle Kersch, Sr. VP, Marketing and Corporate Communications, Marketing Communications
Phone: 904-854-5043, Email: michelle.kersch@fnis.com
Mary Waggoner, Sr. VP, Investor Relations, Fidelity National Information Services
Phone: 904.854.3282, Email: mary.waggoner@fnis.com
JACKSONVILLE, Fla. – Fidelity National Information Services, Inc. (FIS) today announced the rollout of FIS Valuation Solutions’ HQ Certified Valuation, an end-to-end appraisal solution that combines speed, accuracy and economical cost to satisfy the valuation needs of loan originators, servicers and capital markets firms.
In addition, HQ Certified Valuation closes any potential fraud gaps in the valuation process, since in-house appraisers make the valuation without any mortgage broker contact. The rollout will originate from the Southern California region, followed by subsequent rollouts beginning in the first quarter of 2008.
The HQ Certified Valuation report consists of three basic components: the initial property valuation summary report, the in-house real estate appraiser analysis, and the interior and exterior subject property inspection. It is comparable to a typical appraisal process, but includes the added benefits of superior appraiser qualifications, extensive research databases, competitive cost and product backing.
“FIS takes pride in providing customized residential property valuation and collateral risk management solutions for our loan origination, secondary market and loan servicing clients,” said Jon Davis, president of the Valuation Solutions division of FIS. “HQ Certified Valuation extends FIS’ commitment to establish a valuation benchmark for the industry by providing our customers with a customizable balance of speed, price, accuracy and security.”
After the initial valuation summary data is gathered for the subject property, FIS Valuation Solutions consolidates this information with the in-house real estate appraiser analysis and the physical inspection findings to develop a comprehensive appraisal report that determines a single point of value for the property.
The HQ Certified Valuation report is completed by a licensed real estate appraiser on traditional Fannie Mae/Freddie Mac appraisal forms and is backed by the power of FIS Valuation Solutions, an industry leader in due diligence products, services and technology. The report includes the appropriate scope of work for standardization and consistency and is FIRREA and USPAP compliant.
For additional information on HQ Certified Valuation and other FIS Valuation Solutions products and services, call 800.282.1104.
About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) is a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. Approximately 50 percent of all U.S. residential mortgages are processed using FIS software. FIS is a member of Standard and Poor’s (S&P) 500® Index and has been ranked the number one banking service provider in the world by American Banker and the research firm Financial Insights and the number two overall financial technology provider in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 7,800 financial institutions in more than 60 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.