Industry News

TransUnion debuts semi-automated real estate valuation tool

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TransUnion, a company that provides services for residential lenders, today announced the launch of a semi-automated property valuation tool that is intended to provide accurate values when traditional automated models are inadequate but a physical property inspection is not required. The new tool, called Appraiser Assisted Collateral Market Value, is based on the company's automated valuation model, called Collateral Market Value. The tool is designed to incorporate data that is entered by local market appraisers and information from national property sales databases, local multiple listing services and public record data on tax assessments. Users of the tool can adjust a property's characteristics and add comparable properties not identified by the automated valuation program. "This is another example of how we are focusing our solutions and capabilities on creating greater efficiencies and helping to mitigate risk for our customers," said Bruce Schulkins, director of automated val...