RICHMOND, BC, April 21 /CNW/ - MacDonald, Dettwiler and Associates Ltd.
(TSX: MDA), a provider of essential information solutions, announced today
that several lenders have selected MDA as a provider of Managed Appraisal
services as part of their efforts to process Home Value Code of Conduct
(HVCC)-compliant appraisals for wholesale and broker lending channels. MDA
provides managed appraisals through its Managed Appraisal Platform solution,
an electronic portal designed to offer appraisal independence and regulatory
compliance in both direct and third party originations channels.
By integrating MDA's solution, Correspondent lenders and mortgage bankers
are now able to access an online portal to obtain their HVCC-compliant
appraisals. The HVCC regulations, effective May 1, 2009, are designed to
improve objectivity and transparency in the home appraisal process and will
remove conflicts of interest out of the home valuation process. MDA's solution
enables lenders to improve overall efficiency in obtaining HVCC-compliant
appraisals by streamlining the process and reducing costs while ensuring high
standards of quality delivery.
The Managed Appraisal Platform is part of MDA Lending Solutions' suite of
collateral valuation services. The valuation services range from automated
valuation models to full appraisals conducted by licensed or certified
appraisers. Using MDA Lending Solutions' patented product decisioning
technology, properties and loans are evaluated and appraised based on risk
level and key loan characteristics.
MDA provides advanced information solutions that capture and process vast
amounts of data, produce essential information, and improve the decision
making and operational performance of business and government organizations
Focused on markets and customers with strong repeat business potential,
MDA delivers a broad spectrum of information solutions, ranging from complex
operational systems, to tailored information services, to electronic
MDA employs more than 3,200 people in locations across the United States,
the United Kingdom, and Canada. The Company's common shares trade on the
Toronto Stock Exchange under the symbol TSX:MDA.
This release contains forward-looking statements and information, which
reflect the current view of MacDonald, Dettwiler and Associates Ltd. with
respect to future events and financial performance. Any such forward-looking
statements are subject to risks and uncertainties and MDA's actual results of
operations could differ materially from historical results or current
expectations. Additional information on these and other potential factors that
could affect MDA's financial results are detailed in documents filed from time
to time with the applicable Canadian securities regulatory authorities.
The Toronto Stock Exchange has neither approved nor disapproved the form
or content of this release.
For further information:
For further information: Wendy Keyzer, MDA External Relations, (604)