Lender Processing Services Inc. (LPS), a Jacksonville, Fla.-based provider of integrated technology, data and analytics to the mortgage and real estate industries, has released the ValueSure Condition Adjusted (VSCA) valuation model by its LPS Applied Analytics division.
According to the company, the VSCA valuation model is unique because upon receipt of an order for a valuation, a licensed real estate agent is dispatched to physically review the property to determine whether or not its condition is consistent with that of neighborhood norms. Only when the licensed agent has made a judgment as to the property's relative condition can the automated valuation model (AVM) be processed, and that information is taken into consideration to create a condition-adjusted valuation. In some cases, the property condition can be so poor as to disallow the use of an AVM at all.
‘The VCSA valuation model goes beyond simply bundling a photograph of a property with a standard AVM,’ says Dan Berman, president of LPS Applied Analytics.
SOURCE: Lender Processing Services
