The Federal National Mortgage Association‘s patent involves an automated valuation model that indexes and adjusts property conditions. It utilizes regression analysis to correlate property characteristics and conditions, generating a property-condition index to enhance property comparisons in a specified geographical area. GlobalData’s report on Federal National Mortgage Association gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Federal National Mortgage Association, Virtual banking assistant was a key innovation area identified from patents. Federal National Mortgage Association's grant share as of June 2024 was 55%. Grant share is based on the ratio of number of grants to total number of patents.
Automated property condition indexing for valuation modeling
The granted patent US12045899B2 describes a non-transitory data storage device that incorporates computer code designed to enhance property information visualization and analysis. When executed by a processor, the code generates a map image of a geographical area alongside alphanumeric characters that detail properties within that area. The system allows users to interact with the map by highlighting property information when a cursor hovers over an icon representing a specific property. Additionally, the device performs two types of multivariable regressions—property-characteristics and property-condition regressions—utilizing distinct sets of explanatory variables to derive a property-condition index for the geographical area.
Further functionalities of the device include the ability to display the map in full screen and sort property information based on specific characteristics. The alphanumeric data can be derived from appraisal reports and may include insights identified through regression analysis. The first set of explanatory variables may encompass factors such as gross living area, age, number of bathrooms, and location, while the second set may include condition remarks, year built, and the number of photos. The device also facilitates the reception of property information via a distributed network, enhancing its capability to provide comprehensive and up-to-date property insights.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
