AVMs Combine For Accuracy

July 24, 2002

EAppraiseIT?s Expanded Valuation Process Aims To Improve Hit Rate


Inman News Features

EAppraiseIT LLC today announced it has added Freddie Mac's automated valuation model, Home Value Explorer, to its EagleCert insured valuation process.

The addition of Freddie Mac's AVM aims to deliver expanded coverage and improved hit rates, while giving lenders guaranteed accuracy.

EagleCert provides insured valuations to first mortgage lenders through the use of a rules-driven process that leverages AVMs, technician-assisted AVMs, desktop appraisals and drive-by appraisals in one program.

Insured valuation products aim to provide alternatives for lenders seeking valuation options in between full appraisal reporting and standard AVM data.

EappraiseIT, a joint venture between The First American Corp. (NYSE: FAF) and LandAmerica Financial Group (NYSE: LFG), is a provider of real estate valuation services.

Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing.

Copyright: Inman News Service