Boxwood Lands Major Appraisal Validation Contract (5/06)

Boxwood Means signed a multi-year agreement with a top national bank to provide testing of residential valuation models. Boxwood will design and implement statistical tests of reliability for several automated valuation models (AVMs) that the bank utilizes in various residential lending programs. Boxwood harnesses a massive database of millions of residential sales transactions to assemble appropriate statistical samples for most jurisdictions across the U.S. Boxwood’s appraisal validation services support bank initiatives to ensure that AVM use is grounded in safe and sound practices that also meet the requirements of bank regulatory authorities.