Intercontinental Exchange, Inc. announced the addition of two new solutions to its growing suite of intelligent valuation tools for the real estate markets and housing finance industries. The newest solutions, Validate ROVSM and Valuation SelectorSM each address particular challenges inherent in the need for swift, accurate, objective and compliant property valuations. Validate ROV offers confidence to homeowners and buyers seeking reconsideration of an appraised home value, as outlined under the proposed federal Property Appraisal and Valuation Equity (PAVE) initiative.

After accessing a link provided by the lender, homeowners will use their mobile device to follow a series of prompts to take photos of the property, giving examples that show why they believe the appraisal may be in error. Validate ROV uses geofencing and time stamps to confirm that photographs are contemporaneous and accurately reflect current property condition. Through intelligent automation, Validate ROV helps reduce manual steps and paperwork for lenders, while ensuring the homeowner or a potential homebuyer is able to easily provide objective evidence as to why they are seeking reconsideration.

Valuation Selector offers confidence to lenders and investors, helping them to instantly identify the complexity of a particular property's valuation, and recommending the most suitable method for determining value. Pulling from public records, assessor and listing information, Valuation Selector applies advanced logic and analytics to recommend the most appropriate and cost-effective of the following valuation types: automated valuation model (AVM), AVM with inspection, desktop exterior, desktop interior or full appraisal. By helping lenders and investors identify the fastest and most cost-effective valuation method upfront, Validate ROV can reduce the time and cost of home finance, adding efficiency and simplicity to an often fragmented and ad hoc process.