The wide-ranging licence includes use of automated valuation model prices at origination, point of sale, surveyor audit, fraud detection, portfolio management and risk assessment. The licence agreement builds on an eight year relationship with the bank stretching back to 2005.
David Catt, chief operating officer at Hometrack, said: “We are delighted that Hometrack has been chosen by Santander UK as its preferred partner. We have been working with the bank for some considerable years during which time we have developed a close working relationship with the bank and its retail risk teams.”
David House, head of property risk at Santander UK, said: “We have been working closely with Hometrack for some eight years now and its automated valuation and risk modelling services has come to play an integral role in our mortgage processes. We value both Hometrack’s independence and accurate housing market intelligence which lie behind its products. Santander’s aim is to meet the financial needs of its clients and Hometrack helps us achieve that.”
