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Hometrack secures Nationwide AVM contract
Hometrack has won a contract to provide Nationwide with an automated valuation model (AVM) and other risk services for the next three years.
The property analytics business will provide the building society with AVM services, sale and surveyor audits, fraud detection, portfolio management and risk assessment.
It has worked with Nationwide since 2008 and will offer several functions designed for the lender’s specific requirements.
David Catt, chief operating officer at Hometrack, said: “Nationwide has always been an important client 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.”
Iain Laing, chief risk officer at Nationwide, added: “Hometrack’s credentials are impressive. Their lender solutions are based on a clear understanding of our sector.
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“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.”
Last month Hometrack announced it was to provide AVM services to specialist lender Investec. It has also joined forces with firms in the Netherlands and Norway to launch a European property alliance earlier this year.