Fidelity offers automated property valuation in Japan

April 13, 2006

Claims to be 'first' in country with service

Inman News

Fidelity National Information Services is expanding its property valuation services to the Japanese real estate market, the company said today, providing its automated property valuation tool in that country.

Fidelity will provide Japanese mortgage lenders, secondary market participants, and consumers with ValueSure, its automated property valuation tool, with New City Corporation acting as both the data supplier and the marketer of this service in Japan, Fidelity said.

This product will initially service the Greater Tokyo area with the same type of property valuations and analytic tools available in the United States, and plans for expansion to other major metropolitan areas in Japan are underway, Fidelity said.

"We have always had a vision of offering our real estate automated valuation solutions and analytic products globally," said Brian Hershkowitz, president of the Mortgage and Information Services division of Fidelity National Information Services, in a statement.

"With access to high-quality property sales data from our partner New City Corporation, we were perfectly positioned to enhance our proven technology to provide the Japanese real estate market with the same valuation efficiencies as in the United States," Hershkowitz said.

"New City is delighted to offer the ValueSure solution in Japan in partnership with Fidelity National Information Services," said Peter Meyer, chief operating officer of New City Corporation. "ValueSure provides a cost-effective alternative to traditional appraisal and, with its reliable, real-time, high-volume capability, is ideally suited to the needs of the burgeoning securitization market in Japan."

Copyright 2006 Innam News

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