Tag Archives: AVM

Veros Real Estate Solutions and JVI Solutions LLC announced the launch of VeroINSIGHT this week. It&'s a comprehensive property condition report to address new regulatory guidance surrounding collateral evaluations. According to the two companies, VeroINSIGHT goes beyond existing collateral evaluation products by uniformly capturing aspects of the property's current condition, as well as its general marketability.

Lender Processing Services (LPS) has released a new product that combines the objective precision of AVMs with the detailed review of BPOs. Because AVMs do not often take property condition into account, many default servicers rely on BPOs. However, BPOs allow for a greater amount of subjectivity and can result in inconsistencies. LPS developed the Distressed Asset Review to combine the best characteristics of each method.

Clear Capital has released its new Property Condition Inspection (PCI) tool. The new product provides a property's physical condition and characteristics, supplementing automated valuation models (AVMs) in accordance with new requirements from the Interagency Appraisal and Evaluation Guidelines (IAG) issued by federal regulators.

eMortgage Logic has launched a collateral assessment report (CAR) that can join with an automated valuation model (AVM) in response to the recently published Interagency Appraisal and Evaluation Guidelines. Using its network of preferred brokers, eMortgage Logic's report addresses the content criterion necessary regarding a property's current physical condition and local market influences.

BrokerPriceOpinion.com, a provider of customized valuation solutions, has launched its new Professional Property Inspection report, which incorporates detailed home information from an automated valuation model (AVM). The report also includes verification of the physical condition of the property and full photo documentation, and meets the new federal interagency appraisal and valuation guidelines that went into effect April 1.

Veros Real Estate Solutions has expanded its third-party product offering through VeroSELECT with an intelligent automated valuation model (iAVM) from IntelliReal. The platform is designed to route and return AVMs and other forms of valuation products with secure management of vendors, users, products, and services.

DataQuick, an independent provider of real estate information, analysis, and solutions, now offers lenders and servicers access to Home Value Explorer (HVE) through the company's Collateral Validation solution. Access to this Freddie Mac automated valuation model (AVM) is part of DataQuick's collateral risk management platform.

Collateral Analytics, a provider of automated valuation models (AVMs) and real estate analytic tools for the mortgage lending industry, and Valuation Partners, a national real estate valuations provider, recently announced a partnership venture. The move will improve Valuation Partners' current hybrid valuation solutions, according to a statement from the companies.

DRI Management Systems, Inc., a provider of default process management software, added new functionality with several new modules to version 1.4 of its flagship technology. Officially relabeled DRI Office, the platform was previously known by its development code name, Rincon. According to DRI, the new version was created to relieve mortgage servicers' workloads and improve results with capacity planning, workflow tracking, services ordering, and enhanced communication capabilities.

Federal regulators have amended their interagency appraisal and evaluation guidelines for real estate transactions, and confusion has set in. According to Pro Teck Valuation Services, the 70 pages of hard-to-decipher rules and conditions have led industry participants to ask the following question more than anything else: What can I use to replace broker price opinions (BPOs)? Pro Teck says it has two products in production and available to clients today that meet the new interagency requirements.