Home Value Explorer®
Home Value Explorer® (HVE®) is the perfect valuation tool to mitigate risk and portfolio management. Camreo makes the necessary AVM product recommendation based on the lender’s needs and guidelines. Many lenders and mortgage industry professionals use the Home Value Explorer because it provides a fast and accurate value. It includes data analytics with recent sales.
- Camreo intergrated AVM products provide fast and accurate valuations. Its Confidence Scores are easy to interpret and statistically based on the Forecast Standard Deviation (FSD).
- It leverages Freddie Mac’s modeling expertise and industry knowledge.
- We are rated consistently as a top AVM in the industry for coverage, accuracy, and reliability.
- HVE point value estimates can be used to determine the property value for Relief Refinance MortgagesSM for sure 1- or 2-unit properties.
- Provides extensive coverage of all 50 states and the District of Columbia, including over 3,100 counties.
- Employs a database of more than 103 million property addresses obtained from national data repositories and the Freddie Mac loan portfolio.
- Includes property values in nondisclosure states using data from the Freddie Mac loan portfolio.
- Returns a valuation hit on a national average of 85 percent of all properties submitted. If prior sales information is provided, hit rates are even higher.
- Utilizes a unique Freddie Mac proprietary algorithm that blends model estimates returned by our repeat sales model and our hedonic model into a single product.
- Provides the HVE point value estimate, with additional related feedback data elements, at no extra cost, to help identify potentially inflated appraisal values that may need another review early in the origination process.
Uses of Home Value Explorer®
Supports many lending functions such as:
- Underwriting review for first and second mortgages and home equity loans/home equity lines of credit
- Credit risk management
- Loss mitigation
- Refinance and modification of mortgages
Integrates with processes related to evaluating insurance needs.
Administers Quality Control (QC) processes.
Supports Portfolio Management processes.
Support activities associated with the purchase, sale, or construction of homes.