Remine Calculations

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How does Remine calculate Net Equity?

Remine calculates net equity with the following steps:

  1. We collect information about the active mortgage loan amount and interest rate from First American and create a modeled amortization schedule.
  2. Based on the modeled amortization schedule and current date, we calculate the remaining loan balance.
  3. We subtract the remaining loan balance from the First American valuation for the property. See the How does Remine calculate Property Values? question below to learn about valuations or visit our Remine Valuations article.
Note: Our estimate will be incorrect if an owner has missed a payment or made extra payments.
How does Remine calculate Property Values?

While each provider has its own special sauce, AVMs look at the following data:

  • Recent sales recorded at a courthouse
  • Tax assessment values
  • Comparable properties, including the following factors:
    • Condition of the property
    • Square footage
    • Bedroom/bathroom count
    • Year built
    • Lot size
Where does Remine get its valuation data from?

The valuations you see are provided to Remine by

  • First American
  • Black Knight
  • Redfin

You'll see a table with the different valuations, their ranges, and the latest date updated. 

What does AVM stand for?

AVM stands for automated valuation models. Our data providers calculate valuations using AVMs that look to data such as tax assessment values and comparable properties.

What data goes into the Property Value filter?

The Property Value filter uses First American valuations. First American updates their valuations every 30 days.

How do I add a valuation to a property?
  1. Go to the Property Details page of the property for which you want to add your valuation. Click Valuation tab at the top of the page or scroll down to the Valuation section.

  2. Within the Valuation section, in the Valuation Amount box, type your valuation. Alternatively, you can use the slider to drag the valuation to your desired number.

    Note: If you add a valuation that's outside the bounds of the slider, a text box appears where you can type details to justify your valuation.

  3. When you're done, click the Submit Valuation button. If you're confident in your valuation, click Done.

    For more information on valuations, visit our Remine Valuations article.
How does Remine calculate Ownership Time?

We calculate ownership time by counting forward from the last filed deed. Occasionally, this means that ownership time is reset in situations (like divorce) where a deed is filed but one owner remains the same.

For more information about deed changes in Remine, view the question "What are the most common deed changes?" below. 

What are the most common deed changes?

The following list includes a handful of the deed types you'll frequently see in the Property History section of the Property Details page. Ownership time resets whenever there is a new deed for a property. 

Note: If you see that the Property Notification card in Daily says "Deed information has updated" but the Property History doesn't include a new deed, there may have been changes made at the county level. These changes can include situations like county-wide deed updates or even just a spelling change. 
Deed Description
Deed A deed is a legal document that establishes the existence of a property and allows for the transfer of property titles between parties (e.g., people, trusts, or banks).
Foreclosure

A foreclosure is a process that begins when a borrower stops making payments on the property to the lender. The lender seizes and sells the property in an attempt to recoup the money still owed on the loan.

See the Distressed Properties article for more information.

Intrafamily Transfer & Dissolution An intrafamily transfer & dissolution is a deed that transfers ownership from one family member to another. Dissolution usually occurs in the case of a divorce, where ownership is transferred from the couple to just one person.
Joint Tenancy Deed A joint tenancy deed is available only to married owners and creates a right of survivorship. This means that when one owner dies, the surviving owner assumes the deceased owner's interest in the property.
Warranty Deed A warranty deed proves that the title being conveyed via the deed is clear.
Limited/Special Warranty Deed A limited (or special) warranty deed guarantees that the title has been clear only for the period of time that the seller has owned the property.
Vendor Lien A warranty deed with vendor's lien gives the lender (vendor) the right to hold the property as security for an unpaid debt. This means that should the buyer fall behind on payments, the lender can seize the property until the property is paid for in full.
Quitclaim Deed A quitclaim deed transfers a title from one person to another, with no guarantee (warranty) whether the seller has a clear title. The seller terminates their right or claim to the property, allowing the buyer to assume right or claim. Quitclaim deeds are used to transfer title in unique cases like divorces, gifts, or public auctions.

For more information on how ownership time is calculated, view the question above How does Remine calculate Ownership Time?

What if I disagree with the Ownership Time?

We want to provide you with the most valuable information about the properties you interact with! If you disagree with an ownership time calculation, you can view all deeds filed since 1996 in the Property History section of the Property Details page. You can use this information as context for your own calculation model. 

Should you have documentation backing your calculation of the Ownership Time that you believe to be accurate and true, use Chat to speak with our Customer Success Associates and tell them what you know!

How does Remine calculate Sell Score?

Remine calculates Sell Score using weighted values, so you may occasionally come across some surprising results (e.g., a property that transacted within the last year with a high Sell Score).

The following are the primary variables that affect the Sell Score:

  • Property attributes (e.g., square footage, bedrooms/bathrooms, and current valuation).
  • Property transaction history (e.g., time since last sale, current mortgage(s), and foreclosure history).
  • Neighborhood averages of the previous two variables, for many different neighborhoods (e.g., by ZIP code, by city, and by state).

When any of these data points change, the Sell Score changes accordingly.

For more information on Sell Score, visit our Remine Filters and Layers FAQs.

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