Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced the addition of two new solutions to its growing suite of intelligent valuation tools for...
Enterprise suite of valuation solutions applies automated technology, data and analytics to help tackle high origination costs, valuation complexity and regulatory changes
ATLANTA & NEW YORK: Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of technology and data, today announced the addition of two new solutions to its growing suite of intelligent valuation tools for the real estate markets and housing finance industries. The newest solutions, Validate ROVSM and Valuation SelectorSM each address particular challenges inherent in the need for swift, accurate, objective and compliant property valuations.
“Transparent and accurate property valuations are essential to housing finance,” said Tim Bowler, President of ICE Mortgage Technology. “ICE is proud of the work we’ve been doing on this front, leveraging our technology and data to build a set of smart solutions that help homeowners, lenders and investors have confidence in the values underlying the mortgage process.”
Validate ROV offers confidence to homeowners and buyers seeking reconsideration of an appraised home value, as outlined under the proposed federal Property Appraisal and Valuation Equity (PAVE) initiative.
After accessing a link provided by the lender, homeowners will use their mobile device to follow a series of prompts to take photos of the property, giving examples that show why they believe the appraisal may be in error. Validate ROV uses geofencing and time stamps to confirm that photographs are contemporaneous and accurately reflect current property condition. Through intelligent automation, Validate ROV helps reduce manual steps and paperwork for lenders, while ensuring the homeowner or a potential homebuyer is able to easily provide objective evidence as to why they are seeking reconsideration.
Valuation Selector offers confidence to lenders and investors, helping them to instantly identify the complexity of a particular property’s valuation, and recommending the most suitable method for determining value. Pulling from public records, assessor and listing information, Valuation Selector applies advanced logic and analytics to recommend the most appropriate and cost-effective of the following valuation types: automated valuation model (AVM), AVM with inspection, desktop exterior, desktop interior or full appraisal.
By helping lenders and investors identify the fastest and most cost-effective valuation method upfront, Valuation Selector can reduce the time and cost of home finance, adding efficiency and simplicity to an often fragmented and ad hoc process.
Validate ROV and Valuation Selector add to the growing suite of ICE property valuation solutions, which includes industry-leading AVMs, intelligent data collection tools that support GSE valuation requirements, and Risk Profiler, which combines analytics, local market data, neighborhood demographic trends, comparable property sales and key collateral metrics to help reduce risk exposure on potentially problematic valuations.
“The mortgage industry faces numerous challenges related to the valuation process today,” said Bowler. “Regulators are paying close attention to valuations for many valid reasons. As part of our overall mission to digitize the housing continuum, ICE is marrying technological innovation with our vast data assets to bring transparency and accuracy to a complex, often confusing market.”
For more information about ICE’s mortgage technology solutions, visit: https://www.icemortgagetechnology.com/
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds, and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges -- including the New York Stock Exchange -- and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming U.S. housing finance, from initial consumer engagement through loan production, closing, registration and the long-term servicing relationship. Together, ICE transforms, streamlines, and automates industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.
Source: Intercontinental Exchange
Category: Mortgage Technology
ICE-CORP
Fonte: Business Wire
Scheduled for October, the world's largest startup event will bring together more than 2,000 exhibitors in Dubai, UAE
The Italian IoT company is in the US for the second phase of CALL4INNOVIT
The Italian company partners with MainStreaming for high-performance, energy-efficient video streaming
Software vendors developing vertical solutions against specific attack vectors are 'cool' again. And when it comes to email security, all companies now…
The "New Zealand Buy Now Pay Later Business and Investment Opportunities Databook - Q2 2024 Update" report has been added to ResearchAndMarkets.com's…
The "Kenya Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis,…
Regulatory News: Median Technologies (FR0011049824, ALMDT, PEA/SME eligible, “Median” or “The Company”) will host two live webcasts on September 5, 2024.…
RWS, a unique, world-leading provider of technology-enabled language, content and intellectual property solutions, announces that Mark Lawyer has joined…