SAN DIEGO--(BUSINESS WIRE)--DataQuick®, the nation’s largest independent provider of real estate information, analysis and solutions, now offers lenders and servicers access to Home Value Explorer (HVE®), a Freddie Mac Automated Valuation Model (AVM), through Collateral Validation. DataQuick’s patent pending collateral risk solution is part of the company’s Collateral Risk Management platform.
“For the last 15 years, Freddie Mac has invested in, updated and leveraged AVMs as a way to identify loan risk and manage its portfolio,” said John Walsh, president of MDA DataQuick. “The result of that work and experience is HVE, which is now available through Collateral Validation. We continue to offer our customers a growing list of AVMs to meet their changing – and sometimes challenging – valuation needs.”
According to Freddie Mac’s website, “In nationwide tests conducted by large wholesale lenders, HVE consistently performs at the top in the areas of coverage, accuracy and reliability. HVE actually encompasses several models rolled into a single product, for one low cost. When you use HVE you benefit from Freddie Mac's unique proprietary algorithm that blends multiple model estimates returned by the repeat sales model and the hedonic model.”
Collateral Validation, which is now fully XML-enabled, automates the valuation reconciliation process. The flexibility of XML architecture enables lenders, servicers and regulators to more accurately review individual loans and make better-informed decisions regarding origination, acquisition and default management strategies in any technology environment.
Collateral Validation includes a 30, 60, or 90-day market value forecast of the subject property, which is particularly useful to servicers. The tool utilizes DataQuick’s proprietary Neighborhood Level Housing Price Index (HPI), which collects complete real estate and sales data from across the country. The HPI drills the data down to the ZIP+1, providing lenders with trends and forecasts at the most local level, compared to the industry standard of county-level data.
A full Collateral Validation report includes multiple points of market values, HPI trending and other supporting property information to help automate the valuation review and reconciliation process. By incorporating industry best practices with DataQuick’s property data, lenders can quickly evaluate individual loans and better prioritize and execute their default strategies and scorecard their vendors.
About DataQuick
Since 1978, San Diego-based DataQuick has earned a reputation for providing superior data solutions delivered by trained experts who care about ensuring their customers' success.
The combination of high-quality property data, accurate valuation solutions, automated decisioning capabilities and advanced analytics expertise benefits any company that relies on intelligence from the U.S. real estate market. For more information, visit http://www.dataquick.com/ or call (888) 604-DATA.