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Insured AVMs

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    Lenders have a variety of choices in today's marketplace to evaluate collateral. Still, the goals remain the same: find the fastest, most cost effective valuation method that reduces the risk of inaccurate valuations and fraud.

Enter Insured AVMs.

    Traditional appraisals have a specific purpose in today's marketplace. Physical appraisals are required for properties that are not in homogenous areas where an appraiser is needed to estimate the value because of a lack of sales history and comparables. Clearly that is important. But where there is a plethora of data at your disposal, why use a physical appraisal?

    Appraisers today are under tremendous pressure to help homeowners and mortgage brokers close loans. It has been widely speculated in the industry and media that this pressure has caused many houses to be overvalued, leaving a risk with the lender. If a there is an overvaluation and default by the borrower, the lender will surely be stuck with a certain portion of that loss, if not all of it.

With Insured AVMs, the same data that is accessed by physical appraisers is utilized to come up with a valuation. However there are four significance differences with Insured AVMs:
  • AVMs are objective with no outside pressure to over-value
  • They are available in seconds versus days
  • They cost much less than traditional physical appraisals
  • They are insured to cover inaccurate valuations
Physical appraisal services cannot compete with Insured AVMs. Many leading lenders have acknowledged using AVMs and Insured AVMs because of the superior attributes listed above.

Newfound can help you navigate the many choices and decisions that arise when trying to implement or expand an Insured AVM program. We are one of the only providers than can offer multiple insurance markets and design a customized program for your needs. We are finding that lenders require the flexibility of customization in order to create a productive program. Don't be fooled by competitors who try and put your business in their "one size fits all" box.

Below are some details on why our AVM insurance is superior to anything on the market today:

Product Benefits:
  • Platform of nationally recognized carriers, with "A" Excellent or better AM Best ratings
  • Designed for all loans types including 1st Mortgage, Refinances & Home Equity products
  • Coverage can be applied to any AVM model, subject to underwriting approval
  • No deductible is applicable and no per occurrence claim amount limit
  • One time, single payment provides coverage for the entire life of the loan
  • Reasonably priced to allow significant savings over traditional appraisals while removing risk
  • There is no aggregate "cap" on claims limiting overall payment
  • Coverage stays with the loan even if the loan is sold to another financial institution
  • The program is fully customizable to meet unique lender requirements
  • Simple insurance policy contract and claims process
To learn more about the advantages of teaming with Newfound Risk Solutions, see the About Us page for more details. Or visit our Frequently Asked Questions page for further insight.

*The information provided is not an offer of insurance and does not warrant coverage. All coverage is subject to underwriting review and approval. Please refer to the policy contract language for questions on coverage terms and conditions. Individual policies may vary from the information provided.
Newfound Risk Solutions, Inc., Knoxville, Tennessee.
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