Category: Announcements

Black Knight’s Cascade Improved

Black Knight just announced an addition to its ValuEdge Cascade. It will now include the CA Value AVM, developed by Collateral Analytics, which recently became a Black Knight company.

AVMetrics helped with the process, doing the independent testing used to optimize the cascade performance. Read more about it in their press release.

Coronavirus Response – Safety and Service

AVMetrics is committed to providing our service consistently while protecting the health and safety of our customers, employees, partners and vendors.

We are closely monitoring the coronavirus pandemic. We have already taken several steps to prepare for and limit potential impacts to our customers and employees. We have activated our Disaster Recovery Plan and will be cooperating with guidance from the Centers for Disease Control (CDC) and the World Health Organization (WHO).

Regarding the support of our clients, we are committed to continuing to provide our services without interruption. The effects of the coronavirus on market movements is very uncertain at this time. Given the integrated nature of the flow of data from government entities such as County recorders offices to data aggregators and to AVM vendors, we expect that the flow of data will be little changed. However, given the emphasis on social distancing and quarantine for workers, public and private, this too is an unknown.  We will remain in close communication with our clients and partners who provide AVMs so we can communicate any developments in AVM testing participation and results.

Our DR Plan includes measures to: 1) prevent transmission of the highly infectious coronavirus which poses a significant risk to the world’s population; 2) minimize all illness among employees, customers, contractors, and visitors; 3) maintain our business functions and testing processes; and 4) minimize any financial impact on ourselves and our customers, vendors and partners.

AVMetrics has implemented our employee work-from-home plans, flexible work schedules and other adaptive procedures to support social distancing recommendations.

AVMetrics’ planning includes multiple scenarios, including significant absenteeism, failure of critical information technology systems or infrastructure components, loss of facility (workspace) and loss of vendor/partners for an extended period of time.

In response, AVMetrics has taken these and other measures:

    • Work-from-home protocols;
    • Restriction of non-essential employee travel;
    • Use of virtual meetings where feasible (all in-person meetings are being kept short in duration and social distancing is encouraged in the meeting);
    • Avoidance of large gatherings, industry events, etc.;
    • Instructions to employees to stay home if they are sick;
    • Visitation restrictions and protocols for all vendors and visitors into company workspaces; and
    • Posting of office flyers about social distancing and how employees can protect themselves (e.g., frequently wash hands with soap and water or utilize hand sanitizer; often wipe highly touched surfaces, such as desks and doorknobs; and avoid touching your eyes, nose, and mouth).

AVMetrics is committed to supporting the health and safety of our employees, customers, partners and the communities in which we live and work. We will continue to monitor the situation, modify our protocols as needed based on evolving recommendations of the CDC and WHO, as well as other industry experts, and communicate via email, on our blog and on our LinkedIn page.

Appraisal Foundation IAC Open Letter to Congress

IAC Opinion Letter to Congress with IAC Listing

On September 13, 2017, AVMetrics participated with its many partners in The Appraisal Foundation in sending an open letter to the House Committee on Banking, Housing and Urban Affairs urging the committee to refrain from weakening the oversight of the Appraisal Subcommittee (ASC).   The letter – linked to above – emphasizes the importance of the ASC’s National Registry and the benefits of consistency brought about by ASC’s oversight.

The letter proposes several enhancements to the ASC system, including improvements in background checks for appraisers and a standard definition of a “Federally Related Transaction.”   Other proposed enhancements detailed in the letter are designed to improve consistency and transparency.

Lee Kennedy Speaks at Appraisal Institute Symposium

On Monday, June 26, 2017 the Appraisal Institute’s Northern California Chapter hosted an educational seminar in Oakland, CA, with Lee Kennedy as an invited expert. The panel was moderated by Paul E. Chandler, MAI, and Lee’s co-panelists were Michael Simmons of AXIS Appraisal Management and Todd Krell of CrossCheck Compliance. The topic of this educational session was Third Party Vendors, Tools and Compliance: The Role of AMCs and AVMs in the Appraisal Process.  The panel was part of the Commercial and Residential Symposium entitled The Role of Valuation Experts in the Current Regulatory Environment and provided both state (7hrs) and Appraisal Institute Continuing Education.

Synopsis:

Appraiser and Appraisal Management is at the heart of quality loan production. How does a lender know it is using competent appraisers providing quality reports? Policies for the empanelment of appraisers, procurement of vendors and review and quality control of assignments must be documented, managed and audited. An expanding selection of data and technology options are available to lenders to manage all aspects of collateral due diligence. Tools include fully integrated loan origination systems, appraisal management platforms and robust data and review tools. This session will review how to find, screen and manage different third party providers, including AMCS, AVM sellers and QA compliance firms.

  • AVM Cascades and Their Applicable Uses
  • Commercially Available AVMs
  • Big Data Solutions
  • AMC Onboarding Check List
  • Third Party Oversight
  • AMC Auditing
  • Quality Assurance Testing
  • Performance Monitoring

Allison MacDonald Recognized by CSUCI as 2017 Distinguished Alumna

We were proud to read the following in CSUCI’s newsletter:

Many CSUCI alumni have found tremendous success over the years. But recognition comes for those who take that success and use it to help others. This year one very compassionate and talented alumna demonstrated an unwavering commitment to the cause. Please help me congratulate your 2017 Distinguished Alumni Awardee, Allison MacDonald ’07. Allison was an active student while here at CI and took advantage of all we had to offer. After graduation, her drive and hard work led her to career success. Almost immediately and unsolicited she came to us asking to give back. Her dedication to CI and its students in time, talent and treasure were unmatched. Her true dolphin spirit embodies the CI Way. Congratulations Allison!

Sincerely,

Tania R. Garcia

Director of Development, Alumni Relations

Read more about Allison here.

AVMetrics is proud to have Allison as a key member of the team.  Many congratulations, Allison, for all you do for giving back to the CSUCI community and for all you do here at AVMetrics.

AVMNews coming to AVMetrics

For the last 15 years, we have all been indebted to Perry Minas for running AVMNews.  He’s curated the AVM industry’s best articles and shared them via his email newsletter to hundreds of industry insiders.  This month Perry is retiring, and November 2016 will be his last issue of AVMNews – at least his last as a solo performer.  Picking up in 2017, AVMetrics will take over the heavy lifting of compiling and distributing AVMNews, but Perry will stay involved, overseeing his creation.

AVMetrics is proud to continue the tradition of AVMNews, and we plan to take this opportunity to ask readers for their suggestions.  Some early suggestions are more articles on

  • Industry trends
  • Technical articles
  • Interviews with AVM builders
  • Appraisers use of AVMs
  • Modeling trends
  • How customers are using AVMs.

We welcome your comments and suggestions.  Anyone who would like to receive the compilation of articles six times a year can subscribe to AVMNews for free via the following link: AVMNews Subscription.

This newsletter is intended to be a compilation of interesting and noteworthy articles, news items and press releases that are relevant to the AVM industry.  The opinions and positions presented herein are those of the authors and are not necessarily shared by AVMetrics, its employees, principles or agents. Unless specifically stated otherwise within an article or advertisement, AVMetrics does not endorse any opinions, positions, products or services published in AVMNews.