Market Overview

HUD Awards Bluebook International Five-Year Contract for - RepairBASE REO and P&P Repair Estimator

Lake Forest, California – March 4, 2013:  The Bluebook International, Inc. (www.bluebook.net), the nation's leading provider of repair cost estimating data and software to the real estate and property preservation industries, announced that it has been awarded a five-year contract renewal for RepairBASE (www.repairbase.net) by the Department of Housing and Urban Development (HUD) to supply software and data for validation of repair cost estimates. 
 
Since 2011, HUD has utilized Bluebook's RepairBASE to confirm repair, replacement, preservation, maintenance, and improvement costs on FHA single family homes across the United States.
 
'Bluebook is excited to support the essential work of HUD, and proud to have earned HUD's continued trust,' said Mark Josipovich, CEO.  'With RepairBASE and the integrated Bluebook data, HUD offers its users a reliable, easy to use tool designed specifically for the P&P and REO markets.'
 
RepairBASE, used by lenders, government agencies, and 7 out of the top 10 P&P providers, is the industry standard for repair costs and maintenance activities required by HUD, FHA, mortgage security holders, and lenders.  RepairBASE enables HUD users and contractors to quickly confirm estimates through an easy to use web interface that allows for accurate estimating and effective review and audit.

Bluebook's integration via XML/API and/or web services, makes it simple, fast, and cost effective to make RepairBASE function with any property management system without the need to reconfigure existing workflows.
 
Bluebook's data and RepairBASE engine are also trusted by real estate investors and mortgage security holders to provide solutions that reduce average loan loss severities, address property repair and rehabilitation needs and, provide proven analytic approaches to determine the appropriate disposition strategy for individual properties, whether for sale 'as is', 'as repaired', buy and hold for rental purposes, or, demolition. 

About Bluebook: The Bluebook International, Inc. provides accurate, "on demand" residential replacement cost, repair costs, rental data, depreciation, risk analytic solutions and other essential property value information reports for nearly 91% of the nation's single family residences.  
 
Bluebook's data, repair solutions, collateral valuation and disposition solutions help GSE's, banks, lenders and the broad real estate market with solutions that provide critical valuation, underwriting and cost information thus protecting precious taxpayer and business dollars. 
 
Bluebook's proven best execution solutions provide critical valuation, underwriting and cost data that address property repair and rehabilitation needs, provide proven analytic approaches to determine the appropriate disposition strategy for individual properties, whether sale 'as is', 'as repaired', rental or in certain instances, demolition. 

— WebWireID171022 —


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