HouseCanary announced last week the addition of its value report to Mercury Network’s OptiVal Automated Valuation Model (AVM) Cascade as well as the hiring of VP of Business Development and Financial Services Josh Seiff.
Mercury Network’s OptiVal Cascade now contains 12 AVMs and is the only independent and objective Cascade that evaluates multiple AVMs to select the most accurate for a particular piece of real estate, according to the release.
Nearly 1,000 of the nation’s lenders and appraisal management companies use Mercury Network’s technology to manage real estate valuation operations and collateral risk.
“We’re proud to be selected for the OptiVal Cascade,” said Chris Stroud, Chief of Research at HouseCanary. “Lenders need easy access to highly accurate data to mitigate risk and HouseCanary’s AVM has an excellent history of pinpointing property values. Objective testing will make our AVM more accessible to lenders when they need it most.”
The same week, Former Fannie Mae VP of Multifamily Capital Markets & Trading Josh Seiff was announced as a new addition to the HouseCanary Staff. Seiff will lead Business Development efforts in the financial services segment of the company and drive its strategic initiatives within the real estate capital markets ecosystem. His hiring will further HouseCanary’s goal of bringing price transparency to the real estate market.
“During his 13 years at Fannie Mae, Seiff traded municipal bonds, residential and commercial mortgage-backed securities, structured products, and derivatives, while also leading a variety of key technology and finance initiatives,” the release said. “As part of Fannie Mae’s multifamily senior management team, Seiff created and led the GeMS securitization program and the issuance of more than $70 Billion in Agency CMBS securitizations. In 2017, Seiff pioneered the first ever large-scale agency securitization of Invitation Homes’ portfolio of single-family rental properties.”