Home Value Explorer® (HVE) is an AVM that generates a property estimate within seconds. HVE streamlines the collateral valuation process and saves lenders and consumers hundreds of dollars on every transaction. HVE has extensive coverage and is one of the most precise AVMs available. In nationwide tests conducted by large wholesale lenders, HVE consistently performs at the top in the areas of coverage, accuracy, and reliability.
HVE actually encompasses several models rolled into a single product, for one low cost. When you use HVE you benefit from Freddie Mac’s unique proprietary algorithm that blends multiple model estimates returned by the repeat sales model and the hedonic model. Home Value Explorer® (HVE) is a Freddie Mac Automated Valuation Model (AVM) tool that simplifies the mortgage process by streamlining the collateral valuation cycle. For over 15 years, Freddie Mac has effectively employed AVMs internally for its own risk and portfolio management. AVMs have become an integral part of today’s mortgage market and AVM technology has advanced the world of automated valuation services from novelty to necessity.