Appraiser News
Veros named master distributor of Freddie Mac Home Value Explorer, Home Value Calibrator Tools
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Appraiser News
Wednesday, April 17, 2013
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Veros Real Estate Solutions is the newest distributor of the Freddie Mac Home Value Suite, which includes the Home Value Explorer (HVE) and Home Value Calibrator. Freddie Mac's Home Value Suite is a defined set of valuation modeling tools that are designed to automate, streamline, and ultimately drive down the industry’s cost of collateral valuation. The suite was developed to serve lenders in processing and underwriting capacities, portfolio managers, quality control professionals, real estate brokers and Wall Street investors. Veros is authorized to directly distribute the products.
Freddie Mac’s HVE is an automated valuation model (AVM) that incorporates the property data from the GSE’s portfolio of loans, appraisal data from the Uniform Collateral Data Portal (UCDP) and data from the GSE’s portfolio on the 12 non-disclosure states that do not allow public access to this information.
Freddie Mac’s Home Value Calibrator is a quality control tool that measures the risk of overvaluation from an appraisal or other market value estimate and combines the accuracy of HVE with the insight of predictive, statistical scoring models. The tool provides valuable and direct input to lenders regarding which loans present the greatest over-valuation risk and should be reviewed by a qualified reviewer.
“Through our participation as the UCDP technology provider, we’ve been involved at the ground floor with one of the most industry-changing initiatives of this decade,” noted Charles Rumfola, senior vice president of strategic initiatives for Veros.
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