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automated valuation model (AVM)

New Global DMS and Collateral Analytics Partnership Focuses on Enhanced Valuations

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Global DMS and Collateral Analytics have announced a strategic alliance that integrates various components of their software valuation solutions. From within Global DMS’ single-source eTrac Enterprise platform, which compliantly handles the entire appraisal management process, users can now access Collateral Analytics’ products and services that include its automated valuation model (AVM) services, data analytics products and risk management solutions. Click to continue

Collateral Analytics Launches Credit Risk Model

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Collateral Analytics has launched the CA Credit Risk Model. This new patent pending product is designed to offer quantitative measures of the risk and cost of potential borrower default embedded in a residential mortgage.Click to continue

Platinum Data Solutions Approved To Carry Freddie Mac's Home Value Suite

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Freddie Mac has approved Platinum Data Solutions as one of nine authorized distributors of Freddie Mac’s Home Value Suite to mortgage lenders, servicers and other third parties, Platinum Data officials announced.

Freddie Mac’s Home Value Suite includes Home Value Explorer (HVE), an automated valuation model (AVM), and Home Value Calibrator (Calibrator), a quality control tool that analyzes the relationship between key loan information, borrower information and collateral valuation data. Click to continue

Pro Teck Unveils Hybrid Appraisal Product

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Pro Teck Valuation Services announced a new hybrid appraisal product for home equity and 2nd mortgage lending. The Appraisal Desktop with Inspection (ADI) is completed by an in-state licensed staff appraiser in compliance with USPAP standards.

ADI fills the gap between an Automated Valuation Model (AVM) with Property Condition Report (PCR) and a field appraisal.  The ADI is a desktop appraisal that appraisers can complete and be USPAP compliant, and is more economical than field appraisal alternatives, such as a Form 2055.   Click to continue

LPS Unveils Home Equity Valuation Solution

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Lender Processing Services Inc. (LPS) has announced the release of its Home Equity Valuation solution that meets the interagency guideline requirements for both appraisals and evaluations for home equity loans. In support of recent advisories from the Office of the Comptroller of the Currency (OCC) urging banks to strengthen their oversight of the home valuation process related to home equity loans, LPS' Home Equity Valuation solution provides a USPAP-compliant appraisal report format that meets these higher standards.Click to continue

Equifax Announces New AVM Offering

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Equifax has announced the availability of its Collateral Value Connector, an automated valuation model (AVM) cascade that rank orders the industry's leading AVMs by accuracy to provide lenders a precise collateral valuation that can be depended on. In an effort to provide the lending community with a truly transparent and documented approach to AVM testing and facilitate compliance with federal regulatory guidelines, Equifax has partnered with Southwest Financial Services Ltd.Click to continue

CoreLogic: More Than 4.2 Million Atlantic and Gulf Coast Homes at Risk of Storm Surge

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CoreLogic has released its 2013 CoreLogic Storm Surge Report featuring updated estimations on both the number and value of single-family homes exposed to hurricane-driven storm-surge damage within the United States. According to this year's analysis, more than 4.2 million homes along the U.S. Atlantic and Gulf coasts are located within storm-surge risk zones, totaling more than $1.1 trillion in property exposure.Click to continue

Veros Launches New Home Price Index for Market Analysis

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Veros Real Estate Solutions has announced it is making its proprietary home price index, VeroHPI, available for commercial use for the first time. Now lenders, secondary marketers, servicers and analysts will have direct access to information previously available only in Veros products. This information includes sophisticated analytics with a repeat sales index, which immediately improves decision-making regarding residential property price trends in markets across the country.Click to continue

Veros Named Master Distributor of Freddie Mac Valuation Tools

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Veros Real Estate Solutions has been named a distributor of the Freddie Mac Home Value Suite, which includes the Home Value Explorer (HVE) and Home Value Calibrator. Freddie Mac's Home Value Suite is a defined set of valuation modeling tools that are designed to automate, streamline, and ultimately drive down the industry’s cost of collateral valuation. The suite was developed to serve lenders in processing and underwriting capacities, portfolio managers, quality control professionals, real estate brokers and Wall Street investors.Click to continue

CoesterVMS Introduces New Flat-Fee Appraisals

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CoesterVMS has implemented its flat fee model for residential appraisals. Under the flat fee model, which took effect on Jan. 1, 2013, all conventional appraisals are priced at $450 while FHA appraisals are $475. Appraisal management companies (AMCs) generallyutilize a tiered fee structure, whereby prices are determined based on the property type or the state in which the property is located.Click to continue