Smithfield & Wainwright Collaborates with Marshall &
Swift/Boeckh To Offer A Valuation Solution for the U.S. Real Estate
Markets
MILWAUKEE, Nov. 15, 2012 /PRNewswire/ -- Smithfield &
Wainwright (S&W), in collaboration with Marshall &
Swift/Boeckh, has released its ground breaking, Residential Asset
Monitoring (RAM) solution. RAM automates the process by which banks
value residential real estate, using the three accepted appraisal
valuation approaches – sales comparable, cost, and income. RAM
provides banks with an automated and forward-looking method to
monitor and value their mortgage loan portfolios and in accordance
with the Dodd-Frank Financial Reform Act of 2010.
Accurately valued estate portfolios promote U.S. real estate
market stability by forecasting a floor and a rational ceiling,
helping to prevent artificially depressed or inflated
valuations. RAM enables banks to enter individual property
addresses via a browser or, to use a batch process for high volumes
of property addresses. Using Smithfield & Wainwright's
proprietary LPV® system, banks receive automated valuation reports
for each property with valuation ranges and confidence scoring for
all three appraisal valuation methods.
Over the past four years, Florida State
University, working with other leading U.S. universities,
entered into a joint collaboration with Smithfield & Wainwright
to test and validate the accuracy of the RAM solution.
"The RAM solution allows for an objective view of valuation and
provides a standardized valuation approach for dealing with Tier 1
Capital requirements and Capital Impairment. The ability to provide
a concise view of assets provides assurance that the institutions
holding real estate portfolio assets provide a transparent picture
not only for regulators but also for rating agencies and
shareholders. This paradigm of the RAM solution will help stabilize
the U.S. Real Estate markets," said "Big" Hogan E. Copeland II,
Chairman and Chief Executive Officer of Smithfield &
Wainwright.
"We're pleased that Marshall & Swift/Boeckh's trusted
re-construction cost data is an important part of the RAM solution.
Our collaboration with Smithfield and Wainwright provides a
solution to help banks value residential mortgage collateral using
multiple forward looking approaches to value," said Todd Eyler, VP for MSB's Real Estate-Government
business.
About Smithfield & Wainwright
Smithfield & Wainwright specializes in residential and
commercial real-estate appraisal valuation and analytics, and
valuation regarding securitization, whole loans, securitized
mortgage pools and mortgage-backed securities. The firm's signature
proprietary platforms include LPV® Logical Property Valuation, RAM,
CAM and IAM.
About Marshall & Swift/Boeckh (MSB)
Marshall & Swift/Boeckh (MSB), a Decision Insight
Information Group company, is the leading provider of building cost
information, residential and commercial analytics solutions and
book of business management services for property insurance
companies, financial services organizations, appraisers, and
government entities. Through eight decades of experience, MSB
has compiled a strong track record of consistently developing
innovative property solutions, analyzing our clients' needs and
providing them with the assistance to significantly improve their
business results.
About Decision Insight Information Group
Decision Insight Information Group, located in the U.S.,
Canada and Europe, delivers a comprehensive range of
information, infrastructure and decision support products and
services for financial and legal professionals. Operating at
the heart of the property industry, Decision Insight Information
Group manages complex information solutions and provides clarity on
decision making for buying, selling, conveyancing, financing and
insurance. Decision Insight companies include MSB and DataQuick in
the U.S., Access Point Information Canada, SearchFlow, xit2 and
Decision Insight Hub in the UK, Millar & Bryce in Scotland, Rochford Brady Group in the
Republic of Ireland, and
Wertweiser, a joint venture with HVB Bank, in Germany. Decision Insight has 1,100 employees
in 16 offices. For more information, visit
www.decisioninsightgroup.com. Decision Insight Information Group is
a TPG Capital portfolio company.
SOURCE Marshall & Swift/Boeckh