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CoreLogic said it has released significant enhancements to its cascading Automated Valuation Model (AVM) solution, AVMSelect, increasing hit rates to over 90 percent. In addition, CoreLogic said that its proprietary cascade tailoring technology is now available down to the county level, enabling more detailed valuation strategies. The most recent enhancements add two new AVMs to the company's existing line of 16 valuation models.
Used primarily by mortgage lending companies to pre-screen, underwrite, originate, and enhance quality control and by the capital markets to identify inaccurate property values, AVMs can reduce the amount of time and money it takes to assess a property's current market value. The company says that its AVMSelect solution provides automated valuations for more than 300,000 loan transactions per month. For more information, visit http://www.corelogic.com.