Auto pilots

Quick and accurate identification of the most appropriate loss-mitigation strategies has never been more important - for borrower and lender alike. Can automated valuation methods really rival the established - but time-consuming - standard of broker price opinions? First American Core Logic's Mark Fleming and Robert Walker investigate

The stock of homes in foreclosure in the US has been rising for the past two years, a trend expected to continue through 2008 and beyond. The number of homes in foreclosure throughout the US stood at 1.5% in May 2008, compared with 0.8% in May of 2007. Serious delinquency rates, 90 days delinquent, are also rising - up 2.2% in May 2007 and 4% in May 2008. Furthermore, 2008 is the year in the US in which subprime adjustable rate loans reset at their highest rates. By early 2009, the vast majority

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