TriNovus to Offer Financial Institutions an Alternative to Full Appraisals

TriVALU provides financial institutions with automated valuation model that can serve as an alternative to a full appraisal for loan evaluations for a fraction of the cost.

Jun 01, 2010, 15:18 ET from TriNovus, LLC

BIRMINGHAM, Ala., June 1 /PRNewswire/ -- TriNovus, LLC (www.trinovus.com), a company focused on delivering relevant technology solutions to the financial marketplace, announced today the launch of TriVALU an automated valuation model (AVM) for banks to use in valuing loan collateral that is significantly less expensive than a full appraisal.

Financial institutions who sign up for the service can access the AVM system online at www.trinovus.com.  AVM's deliver an accurate, instant and cost-effective method for valuing collateral and TriVALU from TriNovus' best in class system produces a hit rate of greater than 85%. Simply enter a street address into the web-based system and in less the one minute a full report is returned.  TriVALU analyzes results on potential factors that often include geography, price tier, property type, subject property factors and other variables. It also pre-screens for and removes fraudulent and REO transactions, drawing from an industry-leading property and transaction database.

With TriNovus' pricing model, subscribers pay only when search results produce a hit. And, there are no monthly minimums to meet – search as often or as seldom as is necessary.

According to the Proposed Interagency Appraisal and Evaluation guidelines published by the regulatory agencies, AVM can be substituted for a full appraisal if:

  • The transaction has a value of $250,000,000 or less
  • It is a business loan of $1,000,000,000 or less
  • It involves an existing extension of credit at the lending institution

About TriNovus

TriNovus, a Birmingham, Ala.-based company, was founded with the goal of delivering relevant technology solutions to the financial marketplace. The TriNovus product suite currently consists of solutions addressing compliance, stress testing, vendor management and distressed assets. For more information on TriNovus, visit www.trinovus.com or contact David Brasfield at 205.991.5636 or david.brasfield@trinovus.com.  

SOURCE TriNovus, LLC



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http://www.trinovus.com