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April 2001
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Transamerica Flood and Basis100 Announce Joint Marketing Agreement
Hasbrouck heights, N.J., April 20, Transamerica Flood Hazard Certification, Inc., a leading flood hazard determination provider, and Basis100, Inc., a leading e-commerce technology solutions provider, have announced a joint marketing agreement.
Both organizations will be integrating Transamerica Flood Internet-based flood hazard determinations with Basis100 Solimar Automated Valuation Models (AVM) into a single package. The result will be a preliminary screening tool for lenders, appraisers, and other real estate professionals early in the loan process.
Both Transamerica Flood and Basis100 view this new agreement as the first part of a multi-faceted strategy. They have agreed to dedicate resources to joint product development to offer new and innovative products to the financial services industry
Solimar Valuation Technology provides automated property valuations for residential properties nationwide. Each property is valued individually using three separate methodologies. The conclusions are then fed into a neural decision engine that generates a final property valuation using the most appropriate methodology for each property. The results are compiled and forwarded to Transamerica Flood in less than five seconds.
The Transamerica Flood determinations are derived from Flood Insights(TM), an Internet-based product, which includes such necessary data elements as community number, flood map panel number and date, and flood zone. Also included is a map of the area around the subject property with the Special Flood Hazard Areas as shown on the relevant FEMA Flood Insurance Rate Map.
Visit: http://www.transamerica.com/FloodHazard & http://www.basis100.com/
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