Two new property valuation products from Landmark Network are gaining traction in the market for loan pools as well as loan servicing, and for originators of forward and reverse mortgage loans.
Some real estate investors as well as individual originators are increasingly using Landmark’s TrimergeBPO™ (broker price opinion) launched in late 2011 to value distressed properties in particular.
The service provides three separate broker price opinions, with high confidence comparables. It lends itself to servicing companies and those in the loan pool marketplace, but Landmark is seeing some originators use it as well.
Used more readily by originators, however, is Landmark’s relatively new MarkIt Value report.
“The marketplace has been hungry for valuation estimators for a while now,” says Erik Richard, Landmark CEO. “Now we have a product out there that’s superior to free resources like Zillow that tend not to be very accurate. Here, you’re getting the professional opinion of someone in that marketplace.”
Comparables are the essential component.
“The real benefit is being able to access comparable data,” says Richard. “This way the client can look at what’s happening in that particular market.”
Written by Elizabeth Ecker