First American Mortgage Solutions, LLC is now offering access to HouseCanary’s Home Price Indices (HPIs) to mortgage lenders and servicers, HouseCanary recently announced. First American Mortgage Solutions is also offering access to HouseCanary’s forecast models.
“By leveraging HouseCanary’s HPI forecasts as part of First American Mortgage Solution’s suite of products and services, lenders and servicers can catch market moves early and manage risk with improved confidence,” says Christopher Stroud, chief of Research at HouseCanary.
“We selected HouseCanary HPIs to further enhance our industry-leading real estate data offerings, allowing our lender and servicer clients to more accurately assess and forecast risk in their portfolios,” says Kevin Wall, president of First American Mortgage Solutions. “Mounting price dispersion within local markets and the ability of HouseCanary’s advanced analytics to deliver insight into these markets at the zip code level provides lenders and servicers with an opportunity to upgrade their risk management and forecasting capabilities.”
HouseCanary HPIs are powered by modern machine learning algorithms that analyze historic, current, and future price trends, yielding 40 years of history and a three-year forecast. The algorithms intelligently rebuild their data models every month to continuously look for new home value trends within thousands of analyzed data points to provide coverage for all 381 metropolitan areas in the U.S. and more than 18,000 residential zip codes. The result is 94.3 percent directional accuracy for a one-year forecast.
HouseCanary’s predictive analytics power RISMedia’s Real Estate Market Update & Neighborhood Report, delivering valuable market information to more than 1 million real estate professionals and their customers every week.
For more information, please visit www.housecanary.com.
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