Syndicate Mortgages Integrates iLOOKABOUT's Visual AVM Into the Lender Matrix
06 Abril 2011 - 10:00AM
Marketwired
iLOOKABOUT Corp. (TSX VENTURE: ILA) ("iLOOKABOUT" or "the Company")
today announced the integration between its Visual Automated Market
Valuation solution and Syndicate Mortgages' Lender Matrix is now
complete and being deployed to Syndicate's broker network of more
than 100 members. The web service integration allows the complete
network of Syndicate's brokers to access the suite of Visual AVM
reports without ever leaving the Lender Matrix site. iLOOKABOUT is
distributing the Visual AVM product through the Company's
GeoViewPort™ application. Financial terms of the agreement were not
disclosed.
Having partnered with the Industry's leading AVM supplier to
develop a unique visual valuation product which combines aerial and
street level imagery with accurate geo-coding, the broker and
lender industry now has the unique ability to visually validate the
subject property in the context of images of neighbouring
properties. Using an algorithm which looks for comparables based on
like building attributes, instead of just recent sales in the
neighbourhood, and then providing the front view of the structure,
complete with a date stamp as to when the image was taken,
accelerates the mortgage application approval process and avoids
time consuming drive-by site visits.
"GeoViewPort™ has demonstrated the value it brings to the
Mortgage Broker and Lender Market by becoming a reliable platform
for visually reviewing neighbourhoods from the street level and
generating AVMs from property characteristics that are updated
weekly," stated Jeff Young, President and CEO of iLOOKABOUT. Mr.
Young continued, "Adding geo-coded StreetScape imagery to an AVM
report allows our clients to better evaluate the mortgage risk by
providing visual confirmation to existing valuation data without
leaving their office."
"Syndicate Mortgages is pleased to be an early adopter of this
solution," stated Marcus Arkan, Principal Broker. "We pride
ourselves on delivering the best tools available in the marketplace
to help our Brokers be successful and iLOOKABOUT's Visual AVM will
clearly help them accurately evaluate more deals more rapidly."
The iLOOKABOUT AVM Comparable Report was well received by the
market at the Canadian Association of Accredited Mortgage
Professionals conference in Montreal and will be shown at the IMBA
Conference in Toronto later this month. Distributed through the
Company's GeoViewPort™ application, the iLOOKABOUT AVM Comparable
Report is supported transactionally by ecommerce and currently
covers approximately 4.5 million residential properties in Ontario.
The Company intends to expand this product to other parts of Canada
as data sources are licensed.
About iLOOKABOUT
iLOOKABOUT is a visual and data intelligence company serving
commercial enterprise in the real estate, insurance, municipal,
utility, assessment and appraisal sectors in North America and
Europe. iLOOKABOUT is a pioneer in visual data intelligence with
its StreetScape and Virtual Tour products. StreetScape is a visual
data intelligence product for the geo-spatial market, providing
panoramic, comprehensive, street level perspective visual data,
geo-coded with latitude and longitude coordinates for accuracy and
supported by patented software processes and proprietary security
and storage systems. Headquartered in London, Ontario, Canada,
iLOOKABOUT's shares are traded on the TSX Venture Exchange under
the symbol ILA.
About Syndicate Mortgages Inc.
Syndicate Mortgages Inc is a leading mortgage brokerage
specializing in residential, commercial and construction financing.
With access to a vast array of lending institutions across Canada
such as major banks, credit unions, trust companies and private
funds with over 70 lenders within its grasp, Syndicate Mortgages
has the ability to find clients the best mortgage rates and
products to suit their individual needs. Syndicate Mortgages is
comprised of a network of individuals possessing expertise and
knowledge in the constantly changing market enabling them to
provide solid financial advice as well as a superior level of
service.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: iLOOKABOUT Jeff Young President & CEO
1.866.963.2015 jeff.young@ilookabout.com www.ilookabout.com
Syndicate Mortgages Inc. Marcus Arkan CEO/Principal Broker
1.888.646.1062 marcus.arkan@smibroker.com
www.SyndicateMortgages.com
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