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EAA publishes first set of standards for statistical valuation methods for residential property PDF Print E-mail
Friday, 29 September 2017
Piero Bassu, Director of Financial Services and Capital Markets at Hometrack says: “This is a welcome announcement by the EAA and is not only good news for AVM providers but also for mortgage lenders and borrowers. The fact is that indexation falls short of what is required for accurate valuations in this day and age. These new standards turn more than 15 years’ of successful AVM use in the mortgage industry into a set of do’s and don’ts that guide how AVM’s can be used properly to improve customer experience and enhance risk management procedures. With changes like IFRS9 coming up in 2018, having an accurate and up-to-date view of collateral will be even more crucial for lenders and EAA certification will highlight the best AVM providers across Europe ensuring that standards remain high.”

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