Veros, provider of valuation technology, enterprise risk management and predictive analytics, added the Realtors Valuation Model (RVM) to its platform of solutions for the mortgage and investor market. RVM is the product of Realtors Property Resource LLC (RPR), a wholly owned subsidiary of the National Association of Realtors and Lender Processing Services Inc. (LPS).
“The AVM marketplace continues to introduce high-performance models,” said David Rasmussen, Veros’ senior vice president of operations. “These models are particularly important as the most recent update to the Interagency Appraisal & Evaluation Guidelines highlighted the need for thorough testing of all valuation methods of all varieties. Utilizing multiple AVMs according to performance is an efficient and effective approach to valuation. RVM is another high-performing model to add to our impressive list of available AVMs.”
Tricia McClung, RPR vice president of business development, stated, “The Realtors Valuation Model was created to assist the housing market — from Realtors to investors — with improved analytics that enhance how properties are priced and evaluated. RVM leverages a broad array of property information, including Realtor market data, for a comprehensive, current and reliable valuation result. We are thrilled to be working with Veros to deliver RVM to the industry.”
According to Rob Walker, managing director, LPS Applied Analytics, “We are pleased that Veros, a leader in valuation innovation, has joined our network of RVM resellers. RVM will offer Veros clients a broad array of property data that leverages direct Realtor input, as well as historical public records data, for an up-to-date, dependable and fully inclusive assessment.”
Veros will market RVM to its extensive client base as a standalone product as well as through its valuation management platforms: VeroSELECT and Sapphire.