Fannie Mae Patent applications |
Patent application number | Title | Published |
20150302419 | APPRAISAL ADJUSTMENTS SCORING SYSTEM AND METHOD - A system and method for appraisal adjustments scoring rates the quality of adjustments made by appraisers in their appraisals of real property. This is done by accessing a model adjustment database that is based on an automated valuation model and a peer adjustment database that is based on an aggregate of appraiser peers in the same geographic location as the subject property. A comparison is conducted for adjustments made by the appraiser to both model adjustments and peer adjustments to determine discrepancies. When a discrepancy is larger than a threshold, a message or warning may be generated. A sales pool composition database is also accessed to determine a valuation impact of the flagged adjustments given the particular set of comparable sales selected by the appraiser. After data evaluation, a rating score is calculated for the property appraisal based on the number and severity of messages and the valuation impact. | 10-22-2015 |
20150261791 | DYNAMIC DISPLAY OF REPRESENTATIVE PROPERTY INFORMATION WITH INTERACTIVE ACCESS TO SOURCE DATA - A system and method may aggregate into a data structure property information from multiple databases, e.g., from all records included in those databases, and upon selection of any subject property or a characteristic thereof curates the often imperfect and discrepant property information to create suggested values. Similarly, the system and method may perform an on-the-fly evaluation of any characteristic of a selected record, when the property information for that characteristic includes an unlikely value, by triggering from the data structure a dynamic extraction of property information corresponding to a subject property of the selected record, where the dynamic extraction further generates and compares a suggested value to the unlikely value. | 09-17-2015 |
20150228037 | DYNAMIC GATING FOR AUTOMATED SELECTION OF COMPARABLES - A comparable property selection system and method employs dynamic gating in the selection of comparable properties. When the most restrictive comparable selection algorithm fails to identify enough comparable sales to use as inputs to the downstream analytics processes, the system does not simply expand the pool or solely expand the corresponding geographical area. Instead, the system automatically loosens and tightens property search filters iteratively to expand and shrink the size of a local geographic and economic market to locate comparables that have property characteristics that most closely reflect the real estate market considerations a buyer, or an appraiser acting as a buyer, would evaluate in a heterogeneous market. | 08-13-2015 |
20150178795 | PERFORMING AUTOMATED APPRAISALS WITH AUTOMATIC DETECTION AND REMEDIATION OF SITUATIONS INVOLVING FAULTY CHARACTERISTICS - Performing automated appraisals with automatic detection and remediation of situations involving faulty characteristics is disclosed. Property information characteristics are extracted from properties listed on electronic appraisals. For a subject property, faulty characteristics include the absence of characteristics, or errors in characteristics. Such faulty characteristics are those that would cause an automated appraisal of the given property to be invalid or unsuitable. In response to the detection of faulty characteristics, interfaces may solicit input addressing the faulty characteristic and upon remediation indicate a clean and complete characteristic set. Thereafter, automated appraisal of the subject property based on the clean characteristic set is initiated to provide an automated valuation of the subject property. | 06-25-2015 |
20150154664 | AUTOMATED RECONCILIATION ANALYSIS MODEL - A device including a memory with an automated collateral fraud and risk detection application installed thereon, wherein the application determines whether a final appraised value of an appraisal was correctly reconciled from comparable properties listed on the appraisal by extracting reconciliation information from the appraisal, the reconciliation information including adjusted sale prices for each comparable property listed on the appraisal and the final appraised value; applying a rule set to the reconciliation information to generate sub-scores; applying a heuristic to the sub-scores to generate a reconciliation score; and outputting a scorecard for the appraisal based on the reconciliation score. | 06-04-2015 |
20150154663 | PROPERTY APPRAISAL DISCREPANCY DETECTION AND ASSESSMENT - An appraisal error detection method includes accessing a database of appraisal-data-field entries of property appraisals. Because sales transactions are cited repetitively as comparables on multiple appraisals, it is possible to inspect appraisal-data-field entries for consistency. An error detection operation is performed for each of the corresponding appraisal-data-field entries by detecting any discrepancies, both between appraisers, and between different appraisals by the same appraisers, where corresponding appraisal-data-field entries are for a same property characteristic of a same property. Appraisal-data-field entries determined by the error detection operation to be erroneous are flagged, and a discrepancy score may be assigned to flagged erroneous entries that indicates an amount of risk posed by the entry. Appraisals in the database may be assigned a score based upon the sum of their entries' discrepancy scores. | 06-04-2015 |
20140325324 | ELECTRONIC DOCUMENT - An electronic document includes header, view, data, and signature sections. The data section provides data typically processed in transactions involving the electronic document. The view section includes presentation formatting for displays corresponding to the data. Linking elements identify corresponding main data values and view data values respectively used to populate the data section and display presentation formatting, and are accessible for determining whether the data in the display and data section, providing assurances that processed data matches that found in documents used by parties to a transaction. A digital signature section allows a digital signature to be provided, and used to wrap that data and view sections, to ensure authenticity. The header section provides document type, state and other information that is readily accessed without otherwise scanning the electronic document. | 10-30-2014 |
20140279387 | AUTOMATED RISK EVALUATION IN SUPPORT OF END USER DECISIONS - A system comprises a device including a memory with an automated collateral fraud and risk detection application installed thereon, wherein the application evaluates risk in an acquisition in support of end user decisions by accessing at least one database to retrieve documentation corresponding to the acquisition and secondary information corresponding to the documentation, the documentation and secondary information each including data fields; compares the documentation data fields with corresponding secondary information data fields to identify acquisition defects; applies risk heuristics on the acquisition defects to generate a probability estimation for each acquisition defect; and outputs a risk evaluation for the acquisition including a confidence metric based on an aggregation of the probability estimations. | 09-18-2014 |
20140149297 | AUTOMATED VALUATION MODEL WITH CUSTOMIZABLE NEIGHBORHOOD DETERMINATION - Automated valuation model with customizable neighborhood determination. A map image is displayed corresponding to a geographical area, and then user input accommodates definition of a particularly defined geographic area to provide custom identification of a neighborhood to be subject to automated valuation. Once the defined geographic area is established, the automated valuation model is applied to property data corresponding to properties within the defined geographic area. A subject property and corresponding properties within the defined geographic area are then displayed on a map image, preferably with articulation of the defined geographic area as the neighborhood of interest. The neighborhood may be defined by, among other criteria, inclusion within a user-defined shape, as well as exclusion of a user-defined shape from a displayed geographic area. | 05-29-2014 |
20140074733 | PHOTOGRAPH INITIATED APPRAISAL PROCESS AND APPLICATION - The present invention relates to photograph initiated property assessment. In one example, an electronic device performs a photograph initiated property assessment by accessing a photographic assessment itinerary that includes a plurality of target portions for the subject property and a set of image capture requirements for each of the plurality of target portions. Further, when performing the initiated property assessment the electronic device prompts a plurality of image capture requests according to the photographic assessment itinerary while displaying a menu that permits the addition of information to the set of image captures. | 03-13-2014 |
20140074732 | LOCATION DRIVEN APPRAISAL DATA EXTRACTION, PAST APPRAISAL AND VALUE COMPARISON AND COMPARABLE PROPERTY FINDER - A method for location triggered home evaluation for an electronic device that determines a location of the electronic device and identifies a subject property associated with the location. Further, a set of appraisal information for the subject property that includes a listing of comparable properties determined to be appropriate comparable properties for the subject property is requested. | 03-13-2014 |
20140074731 | SYSTEM AND METHOD FOR AUTOMATED DATA DISCREPANCY ANALYSIS - A method for automatic detection of inconsistencies in an appraisal by extracting data from the appraisal to create component data arranged into a predetermined set of categories and selecting a control identifier to trigger a generation of comparison data. Further, through a comparison between the comparison data and the component data, inconsistencies within the appraisal are identified. | 03-13-2014 |
20140063020 | SYSTEM AND METHOD FOR MAPPING AND COMPARING CHOROPLETHIC HOUSING STATISTICS - The present invention relates to a mapping and comparing choroplethic housing statistics. In one example, this comprises accessing property data corresponding to a geospatial area. Analytics are used to generate usable property data statistics from the accessed property data. A thematic map image based on the usable property data statistics is then generated according to comparison categories, so that the thematic map image may be displayed. | 03-06-2014 |
20130339255 | AUTOMATED VALUATION MODEL WITH COMPARATIVE VALUE HISTORIES - An automated valuation model and corresponding analysis tool that graphically displays value history information in association with a subject property is disclosed. In one example, the tool generates a graph plotting the valuation history of a subject property over an adjustable time range in relation to a general price index for a pertinent geographical area. When looking at an appraisal for a property, the graph also supports selective plotting of appraiser-selected comparable properties' valuation histories against that of the subject property. The valuation history for comparable properties can be scaled on a pro-rata basis according to the percentage of the adjustments made within the appraisal. In addition, the graph selectively incorporates model-generated comparables and their valuation histories. | 12-19-2013 |
20130339094 | SYSTEM AND METHOD FOR INCLUDING AND EXCLUDING SPECIFIC COMPARABLES - A system and method for automatically accessing property data corresponding to properties within the geographic area and displaying on a display device a map corresponding to said geographic area. Applying a comparable selection model based on a subject to the property data to generate a set of comparable properties, altering the set of comparable properties based on a variation command to generate an altered comparable property set, and displaying on the display device the map with the altered comparable property information. | 12-19-2013 |
20130238512 | AUTOMATED VALUATION MODEL USING ORDINAL VARIABLES SUCH AS CONDITION AND QUALITY VARIABLES - An automated valuation model that uses condition and quality variables. In response to user queries, the model ranks and displays comparables for a subject property. The comparables are selected based on their similarity to the subject. Data on quality and condition of properties is incorporated into the model and corresponding comparable assessments. For example, the quality and condition inputs may be used in a hedonic adjustment factor model, comparable selection exclusion rules, economic distance calculations, and adjustments for differences between the subject and comparables at comparable selection stage. The comparables may be displayed in ranked order based on the calculated similarities between the properties, with indications of the quality and condition categories, to provide an overall assessment of the comparables as well as displayable indications of the underlying quality and condition categories and related information. The model may also use other ordinal variables and may perform any type of valuation. | 09-12-2013 |
20130179357 | PROPERTY APPRAISAL EVALUATION USING TRAFFIC DATA - A valuation model accounts for traffic features associated with modeled properties, generates listings of model-chosen comparables, and evaluates property appraisals and appraisal-chosen comparables accordingly. In one embodiment, traffic features of homes are used in automated electronic appraising and in the electronic review of appraisals. It first uses GIS techniques to convert traffic features associated with a property into a numeric variable, allowing hedonic price models to measure the price impact of traffic features. This allows traffic features to be used in the automated selection of comparable properties and in the adjusting of comp prices in appraisals. It also allows automated review of appraisals to determine if they fairly accounted for the traffic dimension in the selection of comps and in making any price adjustments. In one example, the automatic valuation uses a regression that models the relationship between price and explanatory variables, with the explanatory variables including traffic feature variables. | 07-11-2013 |
20130151422 | RANK AND DISPLAY COMPARABLES WITH USER-ALTERABLE DATA POINTS - Automatically rendering a new valuation for a subject based on real-time property characteristic alterations or manipulations using a comparable selection model. A user alters one or more property characteristics for the subject and the comparable selection model determines a ranked listing of comparable properties for the subject in a given geographical area based on those alterations. The comparables are then displayed in a ranked order that reflects the alterations based on prior data point changes. | 06-13-2013 |
20130144796 | ASSIGNING CONFIDENCE VALUES TO AUTOMATED PROPERTY VALUATIONS BY USING THE NON-TYPICAL PROPERTY CHARACTERISTICS OF THE PROPERTIES - Automatically assigning confidence ratings to properties valued by an automated valuation model. A value confidence model determines a set of typical property characteristics for properties in a geographic area, automatically determines a deviation from the set of typical property characteristics for a candidate comparable property, and assigns a confidence factor to an automated valuation of the candidate comparable property based upon the deviation. | 06-06-2013 |
20130132287 | MODEL-BASED SCORING OF COMPARABLE PROPERTIES BASED UPON THEIR APPROPRIATENESS FOR USE AS COMPARABLES FOR A SUBJECT PROPERTY - Automatically rating comparable properties by accessing property data and comparable assessment information, in which a regression is performed, on to model the relationship between the comparable-appropriateness of the property data and explanatory variables. A set of comparable-appropriateness values for each of the plurality of comparable properties based upon differences in the explanatory variables between the subject property and each of the plurality of comparable properties are chosen and an assessment is outputted. | 05-23-2013 |
20130103597 | EVALUATING APPRAISALS BY COMPARING THEIR COMPARABLE SALES WITH COMPARABLE SALES SELECTED BY A MODEL - Automatically rating appraisal quality and evaluating comparables listed on the appraisal. A comparable selection model selects control comparables using transaction data and property characteristics relative to a subject from a database. An evaluation model compares the control comparables to the listed comparables to generate a quality rating for the appraisal based on category scores that result from an appraisal evaluation over a set of categories. | 04-25-2013 |
20130103595 | SEARCHING REAL ESTATE USING SPATIAL EXCLUSION CONDITIONS - Automated valuation model with customizable neighborhood determination, including spatial exclusion conditions. A map image is displayed corresponding to a geographical area, and then user input accommodates definition of a particularly defined geographic area to provide custom identification of a neighborhood to be subject to automated valuation. Once the defined geographic area is established, the automated valuation model is applied to property data corresponding to properties within the defined geographic area. A subject property and corresponding properties within the defined geographic area are then displayed on a map image, preferably with articulation of the defined geographic area as the neighborhood of interest. The neighborhood may be defined by, among other criteria, inclusion within a user-defined shape, as well as exclusion of a user-defined shape from a displayed geographic area. | 04-25-2013 |
20130066766 | SYSTEM AND METHOD FOR COMMITTING TO PURCHASE OR SELL LOANS - A method for generating a price for a loan comprises providing a seller of one or more loans with an ability to make an N-day forward commitment, wherein N is an arbitrary number selectable by the seller. The method further comprises receiving a commitment from the seller for the one or more loans and generating a market-based price for the one or more loans based on the N-day forward commitment. | 03-14-2013 |
20130066765 | SYSTEM AND METHOD FOR PROCESSING DATA PERTAINING TO FINANCIAL ASSETS - A method of processing data in connection with a security is provided. The security is collateralized by a plurality of home mortgage loans or by portions of the plurality of home mortgage loans. The method comprises generating payment projections regarding principal and interest payment projections for the plurality of home mortgage loans; determining that the payment projections have errors; and modifying loan characteristic data to eliminate errors in the loan characteristic data that cause errors in the payment projections. According to another embodiment, a method comprises receiving payment data regarding the plurality of loans a plurality of times separated by a plurality of days during the reporting cycle. Each time the payment data is received, the payment data is processed and the opportunity to make corrections is provided. | 03-14-2013 |
20130060714 | DEBT AND DERIVATIVE ALLOCATION FOR GAAP ACCOUNTING RECONCILIATION - An apparatus for dividing a balance sheet of a financial instrument from a portfolio level to a sub-portfolio level that includes receiving an asset portfolio and a debt and derivative portfolio of the financial instrument; dividing the asset portfolio and debt and derivative portfolio into a plurality of asset sub-portfolios and debt and derivative sub-portfolios; assigning a portion of each debt derivative sub-portfolio to a specific asset sub-portfolio; allocating a percentage value to each debt and derivative sub-portfolio; calculating a set of financial attributes based upon the allocation percentage; computing a residual error based upon the allocation percentage; and comparing the plurality of residual errors. | 03-07-2013 |
20120323798 | VALUATION OF PROPERTIES BORDERING SPECIFIED GEOGRAPHIC FEATURES - Modeling comparable properties and rendering map images with automatic valuation of properties bordering specified geographic features. A valuation model identifies and accounts for the proximity of properties to geographic features. For example, estimating property value includes accessing property data corresponding to a geographic area and performing a regression based upon the property data. The regression models the relationship between price and explanatory variables, with the explanatory variables including proximity to geographic features. Proximity may be a categorical variable wherein properties bordering the geographic feature are determined to possess the proximity characteristic. Alternative explanatory variables may incorporate different degrees of proximity. | 12-20-2012 |
20120215703 | PROPERTY VALUE ESTIMATION WITH CATEGORICAL LOCATION VARIABLE PROVIDING NEIGHBORHOOD PROXY - Model-based property value estimation with that implements a categorical location variable providing a neighborhood proxy. A regression models the relationship between sale price and a set of explanatory variables. These explanatory variables include a location variable that is defined at a level of granularity such that the location variable acts as a proxy for location within a neighborhood. An infill process remedies the effects of insufficient amounts of location variable data. | 08-23-2012 |
20120203771 | Ranking and displaying appraiser-chosen comparables against model-chosen comparables - Ranking and displaying comparable properties entails receiving appraisal information comprising a subject property and appraiser-chosen comparable properties corresponding to the subject property. Property data corresponding to a geographical area is accessed, in support of determining model-chosen comparable properties based upon the appropriateness of each of the comparable properties as comparables for the subject property. A map image is displayed for the geographical area, along with indicators on the map image indicative of the subject property, at least one of the appraiser-chosen comparable properties, and at least one of the model-chosen comparable properties. | 08-09-2012 |
20120158598 | Modeling and mapping comparable properties - Modeling and mapping appropriate comparable properties comprises accessing property data corresponding to a geographical area, and then weighting comparable properties based upon the appropriateness of each of the plurality of comparable properties as comparables for a subject property. For example, the weighting may be based upon economic distance from the subject property, geographic distance from the subject property, and age of transaction. Using this information, a map image of the geographical area is displayed, with indicators on the map image indicative of the subject property and at least one of the comparable properties. | 06-21-2012 |