Hansen Quality Launches Offering That Combines Collateral Risk Analysis and Appraisal Value

October 22, 2004

JACKSONVILLE, Fla., /PRNewswire-FirstCall/ -- Hansen Quality, a division of Fidelity National Financial, Inc. (NYSE: FNF) and a provider of collateral valuation and appraisal review products, launched PRO Value(TM), a service that analyzes overvaluation risk on residential appraisal reports and provides an independent, AVM-derived collateral value that is reviewed and certified by an expert appraiser. This service is designed to be used in the origination phase as a substitute for desk reviews or in the due diligence process for whole loan purchases. Hansen Quality's PRO Value(TM) report assigns an overvaluation risk score after evaluating critical factors associated with an appraisal report. Considered risk factors include, but are not limited to, unique property attributes, below average condition, negative external influences and inappropriate comparables. The review appraiser then chooses an accurate AVM value from a selection of 3-4 different AVM models, including an appraiser assisted model. The final PRO Value(TM) report includes the overvaluation risk score, the reviewed AVM value, and commentary summarizing the review appraiser's analysis. PRO Value(TM) is ideal for clients seeking a very accurate collateral value based on a desktop-oriented review process as opposed to a field review. The real advantages show up in cost and time savings to the client. "We realized the need to provide an appraisal review solution that would offer a higher level of due diligence for those clients that wanted to go a step beyond our PRO product," said SVP Mark Fernald, Senior Risk Administrator of Fidelity. "By combining an appraiser-certified value with the PRO collateral risk report, we have given investors a time-saving, cost effective alternative to using a BPO," added Fernald. "It is also a great option for originators, providing them with greater collateral value assurance than a desktop review alone," said Fernald.

Source: Fidelity National Financial


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro is the nation's leading provider of real estate closing and title insurance software. With more than 14,000 customer sites and over 60,000 users nationwide, this award-winning software offers a suite of products designed to increase your volume and revenue by reducing the time it takes to do closings. SoftPro has been recognized by the American Business Awards every year since 2007 - winning awards for Superior Customer Service, Support and Product Development. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.