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Interthinx Unveils New Approach to Property Valuation

Agoura Hills, California-based ""Interthinx"":http://www.interthinx.com/, a national provider of proven risk mitigation and regulatory compliance tools for the financial services industry, recently launched the Interthinx Conditioned Valuation Model (CVM) -- a unique integration of automated valuation technology and analytics tempered by a professional property inspection.


According to Interthinx, this new approach to property valuation will provide lenders and servicers with a powerful choice that is more accurate than an Automated Valuation Model (AVM) and less expensive than a Broker Price Opinion (BPO). As a result, the Interthinx CVM allows for more reasonably priced and comprehensive due diligence for businesses requiring more information than conventional valuation methods can offer.

""AVMs have become an industry standard and a valuation tool many rely on without question,"" said Kevin Coop, president of Interthinx. ""Unfortunately, excessive AVM usage may have contributed to an epidemic of overvaluation fraud, and valuation fraud is not diminishing.

""As DSNews.com reported"":http://dsnews.comarticles/california-named-no-1-state-for-mortgage-fraud-risk-2010-02-19, the fourth quarter 2009 Mortgage Fraud Risk Report by Interthinx confirmed that property valuation fraud risk was up 40 percent from the same period in 2008. In an effort to cut down on property valuation fraud, the CVM allows Interthinx to deliver affordable, real-time condition based property values to the lending and servicing communities, Coop explained.

The new valuation model starts with an AVM and uses both multiple listing service and public data to factor current market conditions for the greatest accuracy. The CVM then applies an adjustment based upon an exterior inspection of the property and neighborhood by a professional third-party inspector. Photos of the subject property, neighborhood condition, a condition-adjusted value, and market price trends are all included in the CVM report.

""The CVM promises to advance mortgage due diligence to a new level,"" said Mark Chapin, chief valuation officer for Interthinx. ""The CVM combines powerful valuation analytics that factors property condition by an objective third party to produce an accurate, transparent property valuation at a cost-effective price.""

About Author: Brittany Dunn


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