Disaster Areas - Feb 2, 2006
New Director of Information Technology - Oct 25, 2004
Superior Hits in Underserved Areas - Feb 27, 2004
New AVM Launched - Jan 5, 2004

Disaster Areas

Colchester, VT, February 2, 2006 – In light of recent natural disasters in southern areas of the country, AVMax® is currently developing internal modeling procedures to identify properties in geographic sectors that may have been, or may be impacted by potentially devastating events. These procedures will reference a disaster database [FEMA] that will aid in calculating the relative impact of events on subject properties within these geographic sectors. The end result will be the notification to end-users of AVMax® reports that a property value “has the potential of having been negatively or adversely affected by a natural disaster or event”. The severity of the degree of “warning” will diminish over time along with the integration of reconstruction/recovery data as it becomes available. In the meantime, AVMax® will continue to deliver values in currently affected disaster areas to allow our clients to assess loss evaluation.

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New Director of Information Technology

Colchester, VT, October 25, 2004 – AVMax®, a leader in automated valuation solutions, announced the appointment of Zachary Kent as Director of Information Technology. Mr. Kent will oversee the company's technical and data departments for its AVM products and services.

Mr. Kent comes to the company with a background in Engineering and Computer Programming. He spent seven years with Boeing (previously MacDonald Douglas) at Tyndall Air Force Base in Florida as Lead Multi-Media Developer. For several years, Mr. Kent was engaged as an independent consultant, producing high-volume, interactive, data-driven applications for clients including the U.S. Army, Centers for Disease Control (CDC), Verizon, Duke University and Agilent Technologies.

William Peters, President of the company notes, "Zach has a wealth of experience working with large data sets and complex technical applications. His background and expertise will help with our continued expansion in the field of automated valuation services to the mortgage banking and real estate markets. We are pleased to have Zach join our team here in Vermont."

AVMax® drew Kent's interest because the company "has taken a very disciplined and systematic approach in both product development and marketing support," he said, adding that he is particularly impressed with the company's business model and quality of the people involved with AVMax®.

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AVMax® Offers Superior hit rates in Underserved Areas

Colchester, VT, February 27, 2004 – While AVM technology continues to gain recognition, use and acceptance among lenders and the investor markets, there have always been certain geographic areas where automated valuation tools have simply been incapable of returning viable valuation results…until now.

AVMax® has sharpened its focus on developing new valuation procedures that allow the model to produce actionable results in a number of historically underserved states.

Utilizing a blend of valuation techniques to estimate the current value of residential properties, the company has identified a dozen states that will benefit from its enhanced valuation technology. Those states include: Maine, Idaho, Kansas, Kentucky, Iowa, Ohio, Louisiana, South Carolina, West Virginia, Nebraska, Arkansas and Georgia.

According to Bill Peters, President of the company, “In reality, there are a large number of inter-related variables that determine a value. Where data elements are limited, our goal is to more precisely match the underlying relationships in the data to produce meaningful valuation results.” “Our goal will be continually to analyze and adjust the AVMax® model, allowing us to consistently improve accuracy, reliability, overall hit rate and performance.”

AVMax® is available via the internet for small volume AVM usage and batch processing capabilities for larger volume applications and quality control functions. To learn more about AVMax®, additional information is available at www.avmax.net or by calling 1-866-342-8629.

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R.J. Peters Associates, Inc. (RJPA) has Announced the Introduction of its New Automated Valuation Model (AVM), AVMax®.

Colchester, VT, January 5, 2004 – AVMax® is a discriminatory, property-specific model that offers the advantages of both comp-based and Hedonic methodology. AVMax® incorporates national data to establish a base value, further refining valuations through proprietary screening and weighting mechanisms to improve valuation accuracy. The model also integrates proprietary logic to manage geographic anomalies, further improving valuation precision and confidence levels.

According to Bill Peters, President of RJPA, "The strength of our model lies in effectively screening data for missing or out-of-range occurrences and inconsistencies, generating a very high useable hit rate." By design, the gross hit rate for the model will be relatively low (45-55%), but the useable hit rate for AVMax® is in the 90% range. Peters adds, "When AVMax® returns a value, its confidence score is typically in the 85+ range out of 100, and, on average, our testing indicates the value will fall within 5-9% of actual market value."

While AVMax® offers national coverage, RJPA is enhancing the model's capabilities to address specific regions and states that are presently underserved by the AVM industry. "By including external data specific to underserved regions and states, we are refining our results in order to return consistent values in these areas. We are constantly working to expand the "effective scope" of our model to increase gross hit rates into additional underserved regions and states."

In order to assure accuracy in its valuations returned, AVMax® is tested in a systematic and on an ongoing basis against known values. This serves two purposes: 1) verification of Data Sources used, and 2) validation of updated algorithms and modeling techniques within the Model itself.

The reliability and accuracy of AVM valuations differ widely depending on the "structure" of the AVM. Because of AVMax's focus on generating only "useable hits", it is positioned in the market as a premium product.

The result of over a year of research and development, AVMax® is designed to perform quick and cost effective collateral assessment services for residential lending. AVMax® is available via the internet for small volume AVM usage, and for batch processing capabilities for larger volume applications and quality control functions. AVMax® is also available online for small volumes or direct for large volume batch-processing.

Additional information is available at www.avmax.net or by calling 1-866-342-8629.

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