Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has released REO Market Analysis, an automated valuation model (AVM) and market analysis report designed to help mortgage servicers identify default risks and trends in sales of real estate owned (REO) properties in specific geographical areas.
REO Market Analysis combines several types of valuations with detailed local foreclosure, REO and retail sales data to identify and calculate the effects of local foreclosure and REO trends on subject property values, LPS says.
REO Market Analysis also provides a net forecasted REO value, inclusive of estimated foreclosure and REO expenses, carrying costs and timelines. With this information, the REO Market Analysis report delivers multiple valuation estimates, such as fair-market AVM value, current REO value and net forecasted REO value, in an easy-to-read format that identifies and calculates the property's perceived and potential value.
Source: Lender Processing Services Inc.