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 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 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 customer to use as a property valuation method in lieu of full appraisals for second mortgages.  This produced the highest possible level hit rate and confidence factors for properties throughout the United States. The solution included integration with the customers 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. 

 

About FNF

Fidelity National Financial, Inc. (NYSE:FNF), is a leading provider of title insurance, mortgage services and restaurant and other diversified services. For over thirty years we have found opportunistic ways to provide industry leading products, services, and value.