CoreLogic announced the introduction of its Total Home Value for Originations AVM solution. This is the latest addition to the CoreLogic Total Home Value suite of AVMs, which includes Total Home Value for Portfolio Monitoring, Total Home Value for Risk Management, Total Home Value for Marketing, and Total Home Value for Consumers, the company announced in a press release.
The Total Home Value suite of AVMs incorporates new technologies and calibrations to deliver property valuations for specific business needs. With Total Home Value, users choose the AVM that best fits their business case, CoreLogic said.
The new Total Home Value for Originations solution is calibrated and packaged to improve efficiencies when performing property valuations during the purchase and refinance loan underwriting process. It also can help home equity mortgage lenders reduce their costs and enable judicious allocation of their resources for BPOs and appraisals. Mortgage lenders also may benefit from streamlined workflows and reduced time-to-close, the company said.
“Today, businesses often use an AVM that is less than optimal for their particular use case,” Ann Regan, executive, product management, Collateral Solutions for CoreLogic, said in the release. “Total Home Value addresses this challenge by taking the guesswork out of selecting the right AVM. For example, our Total Home Value for Originations solution is tuned to deliver the high reliability necessary for property valuation during the loan origination process and can be delivered with a full report, providing comparable property and other information necessary to help support the valuation. We believe it will help our clients accelerate their underwriting workflows and drive costs out.”