Centract raises the bar in appraisal collateral assessment

The next generation of Centract's automated Collateral Assessment Review (CAR 
2.0) solution is launched. 
TORONTO, Jan. 7, 2013 /CNW/ - Centract Settlement Services (Centract), today 
officially announced the launch of CAR 2.0 which provides enhanced risk 
mitigation, quality, efficiencies and flexibility to mortgage lenders and 
insurers. 
The CAR product assesses the collateral supporting a mortgage by reviewing the 
appraisal - including notes and comments made by an appraiser on an appraisal 
report - to flag any issues that a lender or insurer should be aware of. This 
assists lenders and insurers in enforcing their own underwriting standards and 
ensuring compliance with regulatory requirements. The previous rule set of 250 
has been increased to almost 300, making it the most sophisticated in the 
world and the industry best practice. 
The tools interact in real time with the appraiser's desktop software 
resulting in the automated review of the collateral being done at source, 
delivering improved accuracy and significantly reducing the back and forth 
communications between the user and appraiser. The result is that the 
submission is right the first time, and therefore also providing improved 
end-customer satisfaction. 
As well, lenders and insurers now have further flexibility in adding, removing 
and modifying the CAR rules, adjusting them easily and quickly to address 
internal policy adjustments and external market changes. 
Jeff Bradford, President and CEO of Bradford Technologies, partner of Centract 
and leading industry expert in the United States said, "Centract's CAR 2.0 
brings more sophisticated capabilities than anyone in the world. It brings the 
software to a level that no one else has, even in the United States which is 
one of the most advanced in terms of such technologies." 
Phil West, President of Centract stated, "Centract is committed to making its 
collateral assessment tool the most sophisticated in the industry. We continue 
to invest in and partner with our clients to bring ongoing innovation and 
superior solutions to the marketplace." 
For more information on CAR 2.0, please visit www.centract.com/car. 
About Centract
Centract Settlement Services, an indirect subsidiary of Brookfield Asset 
Management Inc., is the largest Canadian provider of outsourced appraisal 
management and mortgage-related services to financial institutions, real 
estate businesses, and consumers. The company's expertise in network 
management and real estate valuation (managing a network of more than 1200 
appraisers across Canada), together with its innovative technologies and 
services, has established Centract as the industry thought leader and trusted 
source for real estate valuation, intelligence, and market analysis. For more 
information, please visit www.centract.com. 
Yvonne von Jena Director, Product Development & Marketing Centract Settlement 
Services (416) 386-4339 yvonne.vonjena@centract.com 
SOURCE: CENTRACT Settlement Services 
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CO: CENTRACT Settlement Services
ST: Ontario
NI: REL NP  
-0- Jan/07/2013 13:00 GMT
 
 
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