Automated Valuation

Who:

Fidelity National Financial / FIS
9339 Carroll Park Drive
San Diego, CA 92121

When: April 2004

What: Client required an increase in capability to support online transaction processing.

The Challenge: Online transaction processing was not keeping pace with customer request volumes, and the client required ways to offer customers second mortgages with the option for the borrower to have their property value determined by an Automated Valuation Model (AVM) rather than through a full appraisal. 

The Solution: Defined the requirements, overall plans, and initial scope to enable the processes required to provide an AVM capability in support of the client’s new product offering. This required building additional test, development, and staging web environments and the infrastructure to support additional capacity and redundancy.

The Result: Delivered new AVM capability for customers to use as a property valuation method in lieu of full appraisals for second mortgages.  This produced the highest possible level of hit rate and confidence factors for properties throughout the United States. The solution included integration with the customer's wholesale front-end system, retail POS, loan origination system (legacy), and new replacement system, as well as tracking ability for usage and billing by cost center.