Boxwood introduced its Property-Conditioned Mercury PRO report, or "Mercury PRO-PC" for short, that seamlessly integrates the assessment of property conditions with the results of Boxwood's commercial automated valuation model (AVM). Mercury PRO-PC is designed to assist regulated financial institutions in meeting revised Interagency Appraisal and Evaluation Guidelines for lending. "Commercial banks and other regulated institutions seek new, cost-effective solutions to the added requirements for collateral valuation and portfolio monitoring imposed by the Guidelines," said Randy Fuchs, Boxwood principal and co-founder in a recent press release. "Mercury PRO-PC answers the call - and is not only compliant with a commercial evaluation - but also delivers unparalleled accessibility, price, data quality and data congruity with typical bank CRE loan collateral."
Mercury PRO-PC incorporates a property inspection into the pre-existing Mercury PRO report that is available in 120 U.S. metropolitan areas and contains neighborhood small-cap market data, trends and a market value estimate derived from Boxwood's commercial AVM.
Boxwood also introduced the release of its Property-Conditioned VALPRO report, or "VALPRO-PC", a more abbreviated report that supports commercial evaluations with integration of Boxwood's AVM and a property inspection. VALPRO-PC is available in roughly 250 metro areas.
Fuchs added, "The Mercury PRO-PC and VALPRO-PC reports enable our subscribers to move forward with lending programs to small business real estate owners and property investors, along with enhanced portfolio monitoring capability, knowing that these tools complement safe and sound banking practices and will get the job done with the least amount of effort and cost."
Boxwood's full suite of small-cap CRE collateral and market reports are available on the company's subscription-based web site, SmallBalance.com. .