HOUSINGNEWS REPORT
BEYOND WHAT’S YOUR HOME WORTH: THE 7 MOST INNOVATIVE AVM APPLICATIONS
“Our business model can operate efficiently in a rising rate environment when lenders have difficulty in bringing in organic volume themselves,” said LendingTree Chief Economist Tendayi Kapfidze. “That’s when they’ll come to LendingTree to fill their pipeline, and we can market into that demand, or pull back if the unit economics don’t make financial sense.” 6. How at Risk is Your Home? Property values are being put at an increasing risk from natural disasters such as hurricanes, floods and wildfires given the twin threats of climate change and a growing frontline of homes in the urban- wildlife interface. Risk Management Solutions (RMS) helps financial institutions and public agencies understand, quantify and manage that risk using vast troves of data, including an AVM from ATTOM Data Solutions. RMS models — built on millions of data points, including the ATTOM AVM — are used by insurers,
reinsurers and other organizations to analyze the probability of economic loss from catastrophic events. RMS models are also able to quickly quantify estimated insured losses from an actual natural hazard event. 7. How Much Home Insurance Should You Have? Another innovate application of AVMs in the insurance space is employed by Cape Analytics, which automates the insurance underwriting process with the use of data, including an AVM from ATTOM Data Solutions. attributes that may impact property value to insurers via a simple API, allowing those insurers to better select risk and streamline the underwriting process even while also improving the agent and customer experience. “Whether during underwriting, rating, or renewing, information about properties is critical for carriers to Cape Analytics delivers the AVM along with other key property
understand their exposure to growing risks from climate change- driven impacts,” said Kevin Van Leer, product manager at Cape Analytics. “At Cape Analytics, we generate new forms of actionable, risk-relevant data, using computer vision and machine learning to analyze aerial imagery of properties across the U.S.” Instant and Accurate Property Valuations The AVM has come a long way in the last 14 years thanks to improvement in the modeling of property value along with innovative applications like the seven outlined above. Expect to see exponential progress on both fronts over the next 14 years as the industry continues to move closer to a world of instant and accurate property valuations. And expect to see ATTOM Data Solutions continuing to lead the way in powering that progress through ever- improving property valuation models that are accessible to both traditional and non-traditional players.
RICHARD LOMBARDI
A 27-year veteran of the data and financial services industries, Richard Lombardi serves as Executive Vice President and General Manager of ATTOM Data Solutions. In this role Richard oversees the data sales, sales operations, product management, database operations and database technology teams for ATTOM Data Solutions.
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DEC 2018 | ATTOM DATA SOLUTIONS
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