Veros Named Master Distributor of Freddie Mac Valuation Tools
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Veros Named Master Distributor of Freddie Mac Valuation Tools

April 16, 2013

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. Veros is authorized to directly distribute the products.
 
Freddie Mac’s HVE is an automated valuation model (AVM) that incorporates the property data from the GSE’s portfolio of loans, appraisal data from the Uniform Collateral Data Portal (UCDP) and data from the GSE’s portfolio on the 12 non-disclosure states that do not allow public access to this information.
“We have found the HVE AVM to be an excellent complement to the VeroVALUE AVM in cascade approaches, which are available via our proprietary valuation management systems,” said Charles Rumfola, senior vice president of strategic initiatives for Veros. “We encourage clients to engage in their own blind AVM tests or utilize the testing conducted by industry experts, and the results of those tests consistently show the VeroVALUE AVM and Freddie Mac’s HVE AVM as top performers.”
Freddie Mac’s Home Value Calibrator is a quality control (QC) tool that measures the risk of over-valuation from an appraisal or other market value estimate, and combines the accuracy of HVE with the insight of predictive, statistical scoring models. The tool provides valuable and direct input to lenders regarding which loans present the greatest over-valuation risk and should be reviewed by a qualified reviewer.
“Through our participation as the UCDP technology provider, we’ve been involved at the ground floor with one of the most industry-changing initiatives of this decade,” said Rumfola. “Freddie Mac’s Home Value Suite is a perfect addition to our extensive array of market analytics, forecasting and appraisal scoring tools, and yet another way Veros is making it possible for clients to look at valuation risk from a myriad of angles and approaches."

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