HouseCanary's Industry-leading Home Price Indices Available to Lenders and Servicers via First American Mortgage Solutions

"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," said 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's unique valuation models process hundreds of inputs from capital markets to local crime, and include views from individual properties.  This allows the company to forecast home price appreciation or identify risk with unparalleled precision and local granularity.

"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," said Christopher Stroud, HouseCanary's chief of research.

HouseCanary HPIs are powered by modern machine learning algorithms that meticulously analyze historic, current, and future price trends yielding 40 years of history and the industry's most accountable 3-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 1-year forecast, which translates into providing the most detailed minutiae for thousands of local markets. This is truly groundbreaking in real estate, where competing forecasts are virtually no better than a coin flip in predicting whether home prices would go up or down.

About First American Mortgage Solutions:

First American Mortgage Solutions, a part of the First American family of companies, provides comprehensive solutions for residential lenders and servicers covering the entire loan spectrum. First American Mortgage Solutions, together with First American's broader capabilities, serves as a single source for title and settlement, data and analytics, fraud and verification, regulatory compliance, valuation and collateral risk, quality control, fulfillment services, and default services. More information about First American Mortgage Solutions can be found at www.firstam.com/mortgagesolutions.

About First American:

First American Financial Corporation is a leading provider of title insurance, settlement services and risk solutions for real estate transactions that traces its heritage back to 1889. First American also provides title plant management services; title and other real property records and images; valuation products and services; home warranty products; property and casualty insurance; and banking, trust and investment advisory services. With revenues of $5.6 billion in 2016, the company offers its products and services directly and through its agents throughout the United States and abroad. In both 2016 and 2017, First American was recognized by Fortune^® magazine as one of the 100 best companies to work for in America. More information about the company can be found at www.firstam.com.

About HouseCanary:

Founded in 2014, HouseCanary's mission is to help people make better real estate decisions. Built on a foundation of great data, powerful models, and predictive analytics, the HouseCanary platform aggregates millions of data elements, including more than four decades of property data and a rapidly expanding arsenal of proprietary calculations and analytics, to accurately define and forecast values and market influences. HouseCanary is financed by notable investors including Hillspire (Alphabet Executive Chairman Eric Schmidt's family office), Alpha Edison, ECA Ventures, Raven Ventures and others top Silicon Valley investors. The company is headquartered in San Francisco. For more information about HouseCanary, please visit www.housecanary.com.

Please contact us with any questions or comments at [email protected] or 855-218-9597

SOURCE HouseCanary

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