Research and Value Properties in Government Sector

Client Need

A large government agency providing mortgage insurance for default properties needed an expedient and cost-effective property research and valuation tool for validating Uniform Residential Appraisal Reports (URAR) submitted by their lending customers.

Solution

First American CoreLogic's property and ownership database provided access to property detail, comparable sales, maps, and document images. The agency also incorporated RES’ automated valuation model (AVM) ValuePoint®4 into its evaluation process, resulting in a more automated solution for identifying artificially inflated property values.

Results

Employing the ValuePoint®4 AVM to identify improperly valued properties has enabled this government agency to cut valuation costs 20%, while significantly reducing risk and accelerating turn times.