HouseCanary HPIs Now Available Through First American Mortgage Solutions

Posted by Amanda Fava on June 23, 2017 No Comments
Categories : Residential Mortgage

Silicon Valley, Calif.-based real estate analytics company HouseCanary has announced that mortgage lenders and servicers can now access its home price indices (HPIs) and forecast models through First American Mortgage Solutions LLC, a subsidiary of First American Financial Corp. and provider of lender and servicer solutions covering the entire residential loan spectrum.

HouseCanary’s valuation models process hundreds of inputs, from capital markets to local crime, and include views from individual properties. This allows the company to forecast home price appreciation or identify risk with local granularity.

The company’s HPIs are powered by machine-learning algorithms that analyze historic, current and future price trends, yielding 40 years of history and a three-year forecast. The algorithms rebuild their data models every month to continuously look for new home value trends within thousands of analyzed data points to provide coverage for all 381 metropolitan areas in the U.S. and more than 18,000 residential ZIP codes, the company says.

“By leveraging HouseCanary’s HPI forecasts as part of First American Mortgage Solutions’ suite of products and services, lenders and servicers can catch market moves early and manage risk with improved confidence,” says Christopher Stroud, HouseCanary’s chief of research.

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