To establish the replacement cost and actual cash value of residential properties
ValueNOW, Proctor Financial’s (PFI) new web-based service, is said to help lenders, mortgage servicers and investors to establish the replacement cost and actual cash value of residential properties, including 1 – 4 unit single family dwellings and town-house style condominiums.
The service is comprised of PFI’s Mortgage Guard lender-placed hazard insurance program, that includes a replacement cost guarantee and inflation guard endorsement, to provide an integrated insurance solution.
ValueNOW integrates public-record data from three national sources to produce a property valuation report, and utilises proprietary assumption table technologies to bridge voids of key missing information. The tool can be used for single property calculations as well as batch processing tasks of 500 or more properties, said Brown & Brown.
Michigan-based Proctor Financial, a wholly-owned subsidiary of Brown & Brown, is a US-based independent insurance intermediary.