The client held more than $1 Trillion dollars of mortgage first loss exposure, including substantial exposure to non-performing loans and foreclosed property.
Rapidly changing market conditions in local markets made it difficult for the client to efficiently choose the right mitigation option which meant the majority of loans were resolved through property liquidation.
The client was in need of a tool for obtaining accurate and granular information on subject properties nationwide with very high coverage.
Market Assessed Price (MAP) is an automated valuation model tool that offers nation-wide coverage, including non-disclosure states, with the capability to run property valuations that populate detailed information at
property, county, and ZIP code levels.
We leveraged the MAP AVM and our data infrastructure to develop a best execution strategy aimed at increasing sales prices in certain markets. We then created a pilot program which resulted in a more than 11% increase in actual recovery rates.
Following the success of the pilot program, our team worked with business owners to identify and appropriate integration plan for incorporating the MAP AVM directly into the client’s existing workflow harness.
With the help of Five Bridges and the MAP AVM platform, the client substantially increased their return on sales disposition, shortened the average sales timeline to list, and increased the listing to sales execution ratio.
The client was able to formalize a process to ensure equal and consistent application of standards of practice.
Merging MAP AVM with their existing workflow helped them more quickly identify possible listing fraud and engage in corrective measures prior to completion of fraud.