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Collateral risk analytics provider Veros Real Estate Solutions here has updated automated valuation model testing polices for its VeroValue AVM.
"The understanding and proper prioritization of critical test data, such as the definition and calculation of accuracy, confidence score correlation to accuracy, ranking functions, gross hit rates and effective hit rates, along with appropriate confidence score thresholds, and other performance measures are essential to making decisions related to the appropriate use of AVMs as a standalone solution or within an AVM cascade," the company said.
"The validation landscape for AVMs...