Fidelity National Offers to Manage Property Valuation Options.(Brief Article)(Statistical Data Included)

Fidelity National Information Solutions here has launched a new tool that will help lenders manage the appraisers they choose to work with. ValuePort, in development for over two years, is designed to help lenders be more efficient in their use of automated valuation models by making them available from a single portal.

"You enter the data on a property and it will tell you which of the leading AVMs hit," said FNIS executive vice president Mark Sennott.

The tool was also developed to help lenders manage risk more effectively when valuing collateral, Mr. Sennott said.

"We don't really care whether you buy an AVM or an appraisal," he said. "We want you to match risk with cost. We want you to take your credit lending criteria and be able to go across a broad spectrum of products that match risk with cost. When an AVM is appropriate, order an AVM. When an appraisal is appropriate for a unique property, then you will have to spend the $300."

The tool will allow lenders to embed their own business rules to control which AVM products are chosen and in what order.

While ValuePort is designed to be vendor neutral, Mr. Sennott admits that FNIS has an AVM product featured on the site.

"We have our own AVM, ValueSure, and we're proud of it. We certainly want you to use it when you can, but we're not going to exclude you from all the other AVMs out there."