ValuLogix is a proprietary tool that Stewart Mortgage Information (SMI) has developed to assist lenders in ordering the Automated Valuation Model (AVM) of their choice. Their choice may be based on price, hit rate, quality (confidence factor) or any combination of these factors or others. ValuLogix gives the lender the opportunity to poll industry-leading AVMs to see which one meets their criteria and be charged only once for that AVM.
ValuLogix saves time money and effort. Without ValuLogix, the lender would have to order and pay for AVMs from various vendors until the AVM that would satisfy their criteria was found. Additionally, the lender would need multiple agreements with AVM providers and multiple logins and passwords with each vendor. At the end of each month the lender would receive bills from each of the vendors.
Automated Valuation Models are used for appraisal substitution, customer retention, appraisal Quality Control, direct marketing, collections and loss mitigation, and portfolio due diligence.
Expected Delivery Schedule
Minutes or lessGeographic Eligibility
50 States - where AVM data is available
Vender Information-Components of ValuLogix
Currently ValuLogix is comprised of these top AVMs in the industry:
| Company | AVM Product |
| First American | HPA |
| Case Schiller Weiss | CASA |
| Freddie Mac | HVE |
| Fidelity National Insurance Services (FNIS) | ValueSure |
- Home Price Analyzer (HPA) is the AVM product of First American . HPA is a leading index-based AVM that uses repeat sales indexing methodology to arrive at an estimated value.
The comprehensive HPA report provides:- Full address details and property type
- Current property value and distressed property value
- Most recent purchase data including name, original loan amount and original lender name
- Refinance and second loan amounts, dates and lender names
- Prior sales date, sale price and owner
- Probability score and valuations graph
- Year built, APN and square footage
- Information on at least three proximal properties within the immediate vicinity
- County median sales price
- Area price trends
- Case Schiller Weiss' AVM product, CASA, combines several valuation methods including characteristics analysis (often referred to as "Hedonics"), Case-Schiller (repeat sales) Indexing, non-linear regression techniques, home price forecasting and unpublished innovations by CSW's research team. To compensate for varying degrees of data quality by geographic area, the optimal combination of data elements and estimation methodologies is determined and weighted for each property analyzed.
CASA Safety Scores
For those customers who prefer an ordinal collateral scoring metric linked to a fixed 10% valuation accuracy threshold, CSW has developed the Safety Score. This score is a statistically accurate measure of the probability that CASA's estimated value for a subject property does not exceed 10% of the "true" value of the home. For example, a safety score of 85 means that there is an 85% probability that the CASA value estimate delivered does not exceed the actual value by more than 10%.
CASA Confidence Grades
CASA confidence grades correlate with the degree of difficulty a human appraiser can encounter in valuing homes. There is a positive correlation between the types of homes for which the CASA System will ten to grade its value estimates lower (for example, properties to which CASA assigns a "D" or "E" Confidence Grade), and the types of homes for which conventional appraisal methods are relatively more subjective and less precise. For example, luxury homes, properties located in more rural locales or within (heterogeneous) neighborhoods comprised or a mix of housing types will tend to have lower grades.
A CASA AVM will include:
- Full Address and property type
- The Estimated value of the property
- A value range including the Estimated High Value, Low Value and Distressed Value of the property
- A Safety Score on the valuation
- A graph illustrating the change in Home Price Indexes for the subject property
- Freddie Mac's Home Value ExplorerSM
This AVM model utilizes several models and a proprietary algorithm that blends multiple model estimates returned by the repeat sales model and the Hedonic model. Freddie Mac calls this the "combining process". Recent neighborhood sales list properties within a 2-mile radius of subject property sold within the last year. Up to 10 properties can be listed; however, the number will vary based on sales activity.
Home Value Explorer (HVE) reports provide a Confidence Score in addition to the estimated value of a property. Confidence Scores indicate the difficulty of estimating a value when the target price is not known in advance.
You will see 3 possible Confidence Scores on an HVE report-high, medium and low. The scores are directly linked to the amount of data available and the quality of that data.
An HVE AVM will include:
- Full property address
- A value range including the Estimated High Value, Low Value and Market Value of the property
- A confidence score
- A list of comparable properties, if available
- ValueSure is the AVM product of Fidelity National Insurance Services (FNIS).
The FNIS® ValueSure automated valuation model (AVM) helps mortgage originators, lenders, loan servicing companies and investors to quickly estimate property value for single family and condominium properties anywhere in the U.S.
ValueSure utilizes three methodologies to estimate a property's current value: hedonic, time adjustment and appraisal emulation. All three techniques are widely accepted in the mortgage industry for estimating property value.
Ordering Platforms for ValuLogix
ValuLogix can be ordered on www.RealEC.com.
