CoreLogic Introduces RealAVM
Email Dan Smith
November 05, 2010, Santa Ana, Calif. –
––New Real Estate Professional-Centric Automated Valuation Model (AVM) Will Be Offered To Partner InfoNet MLS Members––
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced the release of RealAVM, a patented, automated valuation model (AVM) designed to help real estate brokers and agents value properties and expand the marketing information and insight that they provide to clients. Since RealAVM is designed by CoreLogic, the leading provider of AVMs to the mortgage and banking industries, the new offering will also help Real Estate Professionals anticipate the valuations that lenders will use in making mortgage decisions.
RealAVM is supported by the CoreLogic property record databases, the nation’s largest sources of data for sales transaction and property ownership, and includes information from our Multiple Listing Service (MLS) partners. CoreLogic is offering RealAVM as a benefit to MLS partners that participate in the company’s new Partner InfoNet program as an exclusive partner. Partner InfoNet is an innovative new revenue sharing program in which MLSs license their listing data to CoreLogic for use in risk management products for mortgage lenders, servicers and the capital markets. CoreLogic data licensing agreements now cover three of the top metropolitan statistical areas in the United States. The AVM will be made available to MLS members through multiple platforms such as CoreLogic Realist, MarketLinx Data Co-op and Realist ValueMap.
“Agents, brokers and MLSs are all looking for new ways to differentiate themselves and to offer more value their members,” said Ben Graboske, chief executive officer at CoreLogic MarketLinx. “Having access to an extremely accurate, MLS-enhanced AVM with broad coverage, will help agents and brokers differentiate themselves from the competition and enhance their status as trusted advisors to their clients.”
CoreLogic is the leading provider of AVMs to lenders, serving the valuation needs of 18 of the top 20 lenders and delivering millions of AVMs every month. The company has offered multiple MLS-enhanced AVMs for more than three years. In independent tests, CoreLogic AVMs have routinely rated as the industry’s most accurate AVMs. “RealAVM, like all CoreLogic AVMs, is tested nightly against every recorded real estate transaction in the county. This rigorous testing and continual updating assures a very high level of accuracy and broad coverage,” added Graboske.
CoreLogic and RealAVM are trademarks of CoreLogic, Inc.
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. Formerly the information solutions group of The First American Corporation, CoreLogic began trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information visit www.corelogic.com.