Veros Real Estate Solutions has announced its PATHWAY solution is ready to deliver Fannie Mae’s proprietary appraisal messages when the GSE activates them on Jan. 28th. The messages are part of Fannie Mae’s program to provide specific feedback on appraisals submitted to the Uniform Collateral Data Portal (UCDP), a GSE requirement prior to loan submission that allows data checking on valuations before full loan files are received.Click to continue

If you watched the 2012 Olympics, you already know something about valuation cascades, even if you didn’t realize it. A number of events involve multi-layered judging criteria, including diving, gymnastics or dressage. The realm of automated valuation model (AVM) cascades is similar, though obviously more complex, in execution. After careful review of performance by weighting various metrics, an AVM “cascade” is the identification of the best performer for the first, second and third (valuation) positions … or Gold, Silver and Bronze if you will.Click to continue

Veros has announced that it has added the Realtors Valuation Model (RVM) to its platform of solutions for the mortgage and investor market. RVM is the product of Realtors Property Resource LLC (RPR), a wholly-owned subsidiary of the National Association of Realtors (NAR), and Lender Processing Services Inc. (LPS).Click to continue

Automated valuation model (AVM) accuracy has increased dramatically in recent years due to model enhancements, the availability of new data sources and a renewed focus on valuation precision. The concept is pretty simple—the more applicable information that is available, the more accurate the property valuation model can be. Additionally, modeling systems and techniques have also been enhanced, which has resulted in the creation of more sophisticated AVMs.Click to continue

As stated in previous ValueNation columns, a reputable real estate-owned (REO) automated valuation model (AVM) is a great way for servicers and lenders to monitor valuation ranges for default properties in order to minimize loss severity and mitigate underselling. It is one of three widely recognized approaches for determining property value, with the other methods being an appraisal or broker price opinion (BPO). While all three are trusted methods, the REO AVM has proven to be objective and the least expensive.Click to continue

Veros Real Estate Solutions (Veros) has announced that Lenders Compliance Group will be utilizing its collateral integrity analysis (CIA) product for pre-funding and post-closing audits, early payment defaults, high default due diligence, as well as warehouse bank and portfolio reviews. One of the most comprehensive risk reports available, CIA utilizes the latest technology to analyze, detect and accurately identify high-risk transactions while minimizing costly false positives.Click to continue

In my May 2012 ValueNation column, I noted that while we are seeing the housing market start to level out, there are still a significant number of properties in default or foreclosure. These nearly six million properties pose a big challenge to a complete housing recovery. Accurate valuations are essential to moving these properties off the market quickly while maximizing returns.Click to continue

Industry statistics are starting to point to stabilization in the housing market. We are seeing more of a balance in performing and underperforming markets; however, properties still in or on the verge of default pose a significant challenge to the recovery of the housing industry. As of February 2012, it was reported that 3.8 million home loans were 30 or more days delinquent, but not yet in foreclosure and 2.1 million properties were in foreclosure.Click to continue

In wrapping up this series on valuation management, I wanted to review the most important components to be considered when selecting a valuation management platform. The implementation of these systems has given lenders, servicers and investors the ability to effectively coordinate and audit a number of valuation processes. As stated in previous columns, these solutions allow for better control of business operations by providing a deeper level of organization and tracking over the entire loan lifecycle.Click to continue

Automating the acceptance of appraisal and other valuation services has been an objective of lenders for a long time. While it has been possible to convert appraisal data into an electronic format for transmission and storage, the lack of consistency among providers has significantly limited the ability to do anything more.Click to continue