Fidelity National Information Services' Hansen Quality Division Introduces Valuation Solution With Current Aerial Inspection
June 16 2005 - 8:30AM
PR Newswire (US)
Fidelity National Information Services' Hansen Quality Division
Introduces Valuation Solution With Current Aerial Inspection
JACKSONVILLE, Fla., June 16 /PRNewswire-FirstCall/ -- Fidelity
National Information Services' Hansen Quality, a division of
Fidelity National Financial, Inc. (NYSE:FNF) and a premier provider
of collateral valuation and appraisal review products, announced
today the launch of its Desktop Valuation with Inspection (DVI)
offering, an advanced valuation solution combining current aerial
photographs of a subject property with comparable sales and subject
property information. The DVI offering also incorporates Hansen
Quality's rules-based valuation model and a licensed appraiser
review to provide an industry-leading valuation report that is
ideal for use throughout the mortgage process. When a client
requests a DVI report, Hansen Quality arranges for a helicopter to
take multiple photographs of the specified subject property and its
surrounding area. A minimum of three detailed photos are
electronically routed back to Hansen Quality, including a close-up
of the subject property, the subject's street scene and the
subject's general neighborhood. These images are combined into an
interactive photograph with zoom capabilities, revealing the
current condition of the subject property and any external
influences in its surroundings. A licensed appraiser reviews this
interactive photograph along with a subject plat map and street map
to complete the necessary subject property information.
Additionally, the licensed appraiser researches comparable market
data from a variety of public data sources. The most appropriate
comparable sales are then selected and entered into the DVI
valuation model, along with information gathered from the aerial
inspection, and a subject property value is automatically
calculated. This value and all other subject information undergo a
final licensed appraiser review, completing the DVI report. The
report findings, along with the interactive subject photograph, are
then delivered to the client in a standardized electronic format.
Even with the time involved in obtaining current property
photographs, the turnaround time for the DVI report is similar to
that of a Broker Price Opinion (BPO), making it a viable
alternative for use during the origination and servicing stages of
the mortgage process, or within the secondary market. Hansen
Quality currently offers DVI in Southern California with plans to
extend its availability to 25 Metropolitan Statistical Areas (MSAs)
over the next 12-18 months. "For decades Hansen Quality has been a
leader in providing valuation and collateral risk products," said
Greg Hansen, President of Hansen Quality. "When designing the new
DVI solution, our goal was to continue this level of innovation by
redefining the standard for property valuation," added Hansen.
"With DVI, we feel we have been incredibly successful in utilizing
all of our available resources to provide the industry with the
most detailed valuation report available." About Fidelity National
Financial Fidelity National Financial, Inc., number 261 on the
Fortune 500, is a provider of products and outsourced services and
solutions to financial institutions and the real estate industry.
FNF is the nation's largest title insurance company, with nearly 32
percent national market share, and is also a provider of other
specialty insurance products, including flood insurance, homeowners
insurance and home warranty insurance. Through its majority-owned
subsidiary Fidelity National Information Services, Inc. ("FIS"),
the Company is a leading provider of technology solutions,
processing services and information services to the financial
services and real estate industries. FIS' software processes nearly
50 percent of all U.S. residential mortgages, it has processing and
technology relationships with 45 of the top 50 U.S. banks and more
than 2,800 small and mid-sized U.S. financial institutions and it
has clients in more than 50 countries who rely on its processing
and outsourcing products and services. FIS also provides customized
business process outsourcing related to aspects of the origination
and management of mortgage loans to national lenders and servicers.
FIS offers information services, including property data and real
estate-related services that are used by lenders, mortgage
investors and real estate professionals to complete residential
real estate transactions throughout the U.S. More information about
the FNF family of companies can be found at http://www.fnf.com/ and
http://www.fidelityinfoservices.com/ . This press release contains
statements related to future events and expectations and, as such,
constitutes forward-looking statements. These forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause actual results, performance or
achievements of the Company to be different from those expressed or
implied above. The Company expressly disclaims any duty to update
or revise forward- looking statements. The risks and uncertainties
which forward-looking statements are subject to include, but are
not limited to, the effect of governmental regulations, the
economy, competition and other risks detailed from time to time in
the "Management's Discussion and Analysis" section of the Company's
Form 10-K and other reports and filings with the Securities and
Exchange Commission. DATASOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President, Finance and
Investor Relations, +1-904-854-8120, or ; or Darcy Patch, Senior
Vice President of Marketing, Office of the Enterprise,
+1-949-477-1173, or , both of Fidelity National Financial, Inc. Web
site: http://www.fnf.com/ http://www.fidelityinfoservices.com/
Copyright
Fidelity National Financ... (NYSE:FNF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Fidelity National Financ... (NYSE:FNF)
Historical Stock Chart
From Sep 2023 to Sep 2024