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Black Knight updated its ValuEdge AVM Cascade by integrating the CA Value AVM from Collateral Analytics. The ValuEdge Cascade is an automated valuation model that delivers residential property value estimations by using Black Knight AVMs to increase accuracy and hit rate while minimizing outliers.
The valuations are decided by the most appropriate model for the property's geography, based on independent testing that is conducted by AVMetrics. The integration of the CA Value AVM was done to help ValuEdge Cascade reached higher rates of accuracy when determining the value of a home.
According to the press release, the latest ValuEdge AVM Cascade can be used during every step of the lending or property valuation process. The updated platform's features include:
- Comprehensive public record and MLS real estate data, providing insight into the subject's value and local market dynamics
- Comparable sales and active listings relative to the subject based on proximity, similarity and transaction date
- Home price trends and sales activity for the surrounding ZIP codes
- Accuracy and hit rate validation by an independent testing company and the nation's top lenders
"The Collateral Analytics AVMs have always tested well in national tests, so adding the CA Value AVM to the suite of AVMs already available in the ValuEdge AVM Cascade should make an already strong performing cascade even more effective in terms of accuracy and hit rate," said Lee Kennedy, managing director of AVMetrics.
Read more about Black Knight's ValuEdge AVM Cascade.