Centract presents the next generation of appraisal solutions

The IVM provides lenders with greater understanding of real estate collateral risk - faster and cheaper.

TORONTO, Nov. 23, 2011 /CNW/ - Centract Settlement Services, over the past two days, held the first interactive valuation model (IVM) events for lenders in Canada. The guest speaker was Mark Linné, who is the Chief Strategic & Valuation Officer of AppraisalWorld and a pioneer in IVM technologies through his work with Bradford Technologies, a partner of Centract's.

IVMs are a new appraiser desktop software that combine the 'art of appraising' with the 'science of appraising'. The values are created by certified appraisers with the assistance of - and interaction with - sophisticated analytic tools that leverage significant amounts of market data.

For lenders, the IVM approach creates a transparent report, providing not only the valuation but a view of the logic and underlying adequacy of the data supporting the valuation and adjustments. This enables the lender to have a better understanding of the underlying risks for better decisioning. Compared to the current industry standard used, IVMs provide the lender with a much more comprehensive report and more accurate value - in about half the price and time when it is used as a desk top product as compared to a full interior inspection. As such, IVMs are the next generation of appraisal software that are presently transforming the appraisal industry and benefiting lenders in the United States.

"Centract has tested the Bradford Technologies' IVM within the Canadian market and the results are promising," said Phil West, President of Centract. "We believe the future of appraisal will be bright for those who continue to evolve and embrace new ways of combining market analytics, regression analysis, with local real estate experience to create the first truly new way of valuing properties within the last sixty years."

Said Mr. Linné, "It is a pleasure to work with our partner Centract as it is such a visionary and pioneer in real estate valuation in Canada. With Centract's implementation of its proprietary appraisal desktop software version of Bradford Technologies' ClickFORMS Canada in September 2009, Centract brought about a level of sophistication and quality to Canadian lenders that had not previously benefitted from. That leaders in the Canadian lending community were brought together for this IVM event is a testament to Centract's desire to further advance the valuation industry by providing its lender clients with the best and most effective solutions available."

About Centract
Centract Settlement Services, a Brookfield Residential Property Services company, is the largest Canadian provider of outsourced mortgage-related services and real estate business intelligence to lenders, insurers, retailers, mortgage brokers, and the public sector. It possesses one of the largest databases of residential real estate information in Canada and the company's expertise in real estate valuation and neighbourhood trends, together with its innovative technologies, has established Centract as the industry thought leader and trusted source for real estate valuation, intelligence, and market analysis. For more information, please visit www.centract.com.

About Bradford Technologies and AppraisalWorld
Bradford Technologies, located in Silicon Valley and serving the appraisal industry for over 24 years, has long been recognized as the leader in innovative appraisal solutions. From its hassle-free appraisal processing software ClickFORMS, to its online community and services portal AppraisalWorld, Bradford Technologies is dedicated to building trust and reliability in the appraisal profession and providing cutting edge solutions for appraisers, AMCs, and lenders. Its most recent innovation is a statistically supported, USPAP compliant IVM appraisal, the Collateral Valuation Report (CVR), along with a complete statistics education and training course to teach and certify appraisers in the science of real estate valuation and market analytics. With these tools, the company's clients are powerfully positioned to meet the needs of the valuation marketplace. For more information, visit www.BradfordSoftware.com and www.AppraisalWorld.com.

For a copy of a white paper on the IVM, go to:
http://appraisalworld.com/CVR/Appraisal_Myopia_Industry_Paper.pdf

SOURCE CENTRACT Settlement Services

For further information:

Yvonne von Jena
Director, Product Development & Marketing
Centract Settlement Services
(416) 386-4339
yvonne.vonjena@centract.com

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