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Hometrack has won a three year contract to supply Nationwide with an extensive range of automated valuation and risk modelling services.
The contract cements a relationship which dates back to 2008. The licence includes the use of AVM services at origination, point of sale, surveyor audit, fraud detection, buy to let, portfolio management and risk assessment. It takes in Hometrack’s leading AVM (automated valuation model) but also includes the development of new initiatives designed to meet Nationwide’s specific needs.
David Catt, Chief Operating Officer, Hometrack said, “Nationwide has always been an important client to us and we are delighted that they are strengthening their relationship with us. We look forward to working with them on new initiatives which will help support the strategic growth of their mortgage business.”
Hometrack is an independent property analytics business with a proven track-record of providing impartial, accurate housing market intelligence to the lending and property sectors. The company’s extensive client base which includes lenders, developers, and providers of affordable housing, means it has an unrivaled 360 degree view of the property market. With leading authorities in both the lending and housing sectors, Hometrack understands the challenges being faced by its clients today.
Iain Laing, Chief Risk Officer, of Nationwide added; “Hometrack’s credentials are impressive. Their lender solutions are based on a clear understanding of our sector. Their experience in the AVM space is unrivalled as is their understanding of the housing and lending markets. I am delighted to be working with them and look forward to strengthening our relationship in the years ahead.”
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Paragon has worked with Hometrack since 2014 and the expanded agreement means Hometrack will provide Paragon with its Automated Valuation Model and Rental Value Model services for portfolio valuation.
Acquisition will help Hometrack reach its vision faster and in a more comprehensive way. Hometrack will also welcome a team of experts from EDM to Hometrack who will play an important role as Hometrack's business continues to grow in the months and years to come.
Hometrack, the leading provider of insight and intelligence to the mortgage market, has announced an industry-first partnership with Ambiental and Terrafirma, two leading UK climatology specialists, to deliver a leading climate change risk solution for mortgage lenders.