LPS Granted License to Sell RPR RVM(TM) Product to Lender Community
Lender Processing Services announced a new valuation model for Lenders that brings listing and pending-sale data into the AVM equation. The mortgage and real estate services provider has struck an agreement with the National Association of REALTORS to productize MLS data derrived from the REALTOR Property Resource (RPR) to create derivitive products for Lenders. In this case, LPS is offering a product called the LPS REALTOR Valuation Model or (RVM) According to the release, LPS plans to leverage this information to expand the reach of traditional automated valuations. In a quote, Rober Walker, managing director, valuations for LPS Applied Analytics [...]