ServiceLink, a closing management specialist and subsidiary of Fidelity National Title Group, said Monday that it will offer warranted collateral valuations and automated valuation model (AVM) reports in an effort to ensure lender confidence in the property valuations it offers. By warranting the property values it provides, the company is attempting to reduce the buy-back risk between originators and investors due to inaccurate valuations, insulating the lender from a financial loss resulting from default, foreclosure or rejection by the secondary market. “The mortgage industry needs a higher level of confidence that valuations are accurate and reliable,” said Kevin Gugenheim, executive vice president and chief strategic officer of ServiceLink. “With this added protection to the lender, transferee or assignee against an actual financial loss, ServiceLink’s offering of the warranted collateral valuations and AVM reports are intended to not only offer greater protection, but to boost investor confidence levels and secure loan approvals more quickly.” It isn’t clear if the warranty is backed solely by ServiceLink, or if the warranty extends to the resources of its corporate parent — which is one of the largest title insurance providers in the country. The company did not comment further on the nature of its warranty offering, and whether it intends to assume all buyback risk for improper valuations. For more information, visit http://www.servicelinkfnf.com.
Fidelity Sub Offers Warranty on Property Valuations
Most Popular Articles
Latest Articles
Selling your home to a family member in 5 easy steps
Selling your home to a family member can be beneficial but requires careful planning and transparent communication. Follow these five steps to ensure a smooth transaction, from agreeing on logistics and assembling a professional team to determining your home’s value and understanding tax implications.
-
FOA reverse stock split goes into effect, appears to have intended impact
-
Senate Aging Committee leaders introduce bill on aging in place
-
HousingWire Pulse: Respondents show cautious optimism about the Q3 housing market
-
US Senate committee approves full funding for Ginnie Mae
-
Connecticut Senator asks HUD for answers on backlog of discrimination complaints