Mortgage PhD is a Web-based clearinghouse of real estate information and services designed for the mortgage industry. The network enables mortgage originators and servicers to retrieve information and order services from disparate sources with a single sign-on.
"ALLTEL is committed to partnering with providers that will bring unique content to Mortgage PhD," said Bob Hunter, senior vice president of the business partners group at ALLTEL Information Services. "AMCO's eValu promises to deliver significant value to mortgage lenders caught up in the lengthy property valuation process."
eValu is AMCO's patent-pending property valuation tool that fills the gap between automated valuation models (AVM) and traditional appraisals. eValu relies on the expert knowledge of local appraisers, in addition to AVMs, to deliver a valuation tool that is faster, less expensive and provides comparable accuracy to traditional and drive-by appraisals.
"We are excited to make our new automated valuation tool available through Mortgage PhD," said Patrick J. Moore, president of AMCO, a Worldwide Outsourced Solutions Company that provides valuation services and outsourced solutions to the lending industry.
ALLTEL's electronic partner network complements our target market and commitment to creating processing efficiencies using the Web."
Forty-seven of the top 50 U.S. banks rely on ALLTEL's products and services. ALLTEL provides loan servicing automation for more than 20 million mortgage loans, with balances exceeding $2 trillion. Additionally, more than 34 percent of the total dollar volume of outstanding U.S. consumer loans, including mortgages, is processed on ALLTEL Information Services' software applications.
ALLTEL, with more than 12 million communications customers and more than $7.5 billion in revenues, is a leader in the communications and information services industries. ALLTEL has communications customers in 26 states and provides information services to telecommunications, financial and mortgage clients in more than 50 countries.