PASS® Prospector Speeds Batch AVM Processing

PASS Prospector is the first automated valuation model (AVM) developed specifically for direct marketing and other large, batch-function applications. With PASS Prospector, marketing professionals can rapidly generate millions of credit and equity pre-qualified leads. Lenders using AVMs in the direct marketing arena can reduce customer acquisition costs by engaging in equity pre-approved mailings to new or existing customers. 

Details
Traditionally, AVMs only valued individual properties as part of the loan production process. With PASS Prospector, customers are able to submit prospect lists to us and we will append current property values and confidence scores for every available property. Depending on the customer need, lien information may also be appended to calculate unencumbered equity at the property level for direct marketing purposes.
PASS Prospector is able to process millions of valuations in a short amount of time while maintaining a robust hit rate and a high level of valuation accuracy.

Hit Rate
90 percent or greater

Speed
120 properties per second, or over 400,000 valuations per hour.
(Note: Production capacity can be multiplied by running the program on multiple computers.)

To learn more about our AVM offerings and PASS Prospector, contact Robert L. Walker, CMB, CMT, executive vice president, collateral solutions for First American Real Estate Solutions at 714-250-6684 or by e-mail at robwalker@firstam.com.