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Special Reports
In this section of BrokerUniverse we examine a subject of key importance
for mortgage originators every month, based on special reports that run in our sister publication, Origination News.
Appraisals & AVMs
Arriving at a Value
While there has been some disagreement about what is the best way to arrive
at an appraised value for a home, one thing is clear when it comes to automated valuation models and appraisals:
There's more than one way to arrive at an appraised value for a home these days.
Methods of appraisal and automated valuation models have been and are evolving,
Shawn McGowan, president and chief executive officer of Valocity, points out in a story you'll find in this section.
In his opinion, it is important to understand AVMs as he believes there are distinctions. As you'll read in this
section, he believes that, although the models have come a long way, "they are still not yet the competitive
alternative on all fronts for traditional products" but rather are "a product that serves specific needs."
Among the most immediate, specific needs AVMs have had to evolve to meet recently
have been Hurricanes Katrina and Rita, which have affected property values in many areas and posed a challenge
for providers.
In this Special Report, we provide information on how at least one provider, TransUnion
Settlement Services, has met the challenge of arriving at a home value despite the storms with a persistence that
might be compared to a mailman's traditional pledge to deliver no matter what the weather is like.
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