Distressed Valuation Feature Added To AVM

Posted by Orb Staff on May 21, 2009 No Comments
Categories : Mortgage Servicing

ated Asset Services LLC, a Denver-based default management and residential collateral valuation company, has announced the availability of a ‘distressed’ valuation feature within the iValue suite of automated valuation products. The new ‘distressed’ feature extends the automated valuation model (AVM) to extract and weigh key data points that indicate whether a property is considered distressed within the iValue model. The iValue enhancement is designed to identify and flag those properties that are in some state of distress, including notice of default, company-owned, abandoned and sheriff sale. The feature also applies neighborhood analytics to search and select area listings and sales that can be identified as distressed, enabling the AVM to utilize relevant comparables, the company adds. ‘Financial institutions and mortgage servicers need a fast and affordable way to review their portfolios and make decisions for each individual loan,’ says Dave McCarthy, president and CEO of Integrated Asset Services. ‘The distressed valuation feature is a way to individualize the value of each property according to the state of the local market and the property-specific factors that may negatively impact value.’ SOURCE: Integrated Asset Service

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