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Respected financial data and economic modelling sources combine to forecast home prices

Brookfield, Wis. Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial and insurance industries, today announced that, in an exclusive arrangement, it has incorporated Moody’s Economy.com home price forecasts into its popular CASA Automated Valuation Model (AVM).

Download sample CASA avm.pdf

Now, in addition to providing an automated estimate of property value, CASA users will also be able to obtain a 12-month Forecast Value for each property, in addition to a chart of future and historical price appreciation trends in the property’s geographical area.

“The market is screaming for a reliable indicator of future value in the midst of the current crisis in residential housing and lending,” says Walter Morgan, executive vice president of Valuation Services at Fiserv. “Now we are able to offer arguably the best econometric forecasting tool along with the property valuation and historical trend information - literally on a property-by-property basis.”

Economy.com’s home-price forecasts use the Fiserv Case-Shiller^® Home Price Indexes, widely recognized as the most accurate measure of home price trends in the United States. The Indexes, created by notable industry experts, Karl Case and Robert Shiller are now combined with Moody’s Economy.com’s U.S. macroeconomic and regional economic models. These models include data for hundreds of economic variables, including interest rates, demographic trends and labor market conditions.

"The forecasting model looks at the difference between estimated equilibrium price levels and actual price levels,” said David Stiff, Fiserv economist. “Based on historical home price cycles, including previous bubbles, booms and busts, the model forecasts the future path of prices as they adjust toward equilibrium, affordable levels. If prices are too high relative to equilibrium, the model will forecast weaker price appreciation and rapid price declines in markets that are substantially over-valued. The rate of price adjustment is driven by the degree of over- or under-valuation, the cost and financial returns of housing, and local labor market conditions.”

The Fiserv CASA automated property valuation model (AVM) leverages a very large, meticulously filtered property records database and multiple market-specific analytical approaches to estimate current market values. CASA uses many of the same data inputs that an appraiser does, such as comparable sales, home characteristics and time adjustments, but delivers an objective and reliable home value more quickly, enabling a quicker loan decision.

Source: FISERV

For more information on the CASA AVM, please call (800) 872-7882 or visit our website at www.fiservlendingsolutions.com.

About Moody’s Economy.com

Moody’s Economy.com, a unit of Moody’s Analytics, is a leading independent provider of economic, financial, country, and industry research designed to meet the diverse planning and information needs of businesses, governments, and professional investors worldwide. Moody’s Economy.com information and services are used in a variety of ways, including strategic planning; product and sales forecasting; risk and sensitivity management; and as investment research. For more information, visit www.economy.com or call 866.275.3266.

About the Fiserv Case-Shiller^® Indexes

The Fiserv Case-Shiller^® Home Price Indexes measure changes in state, metro area, county, and zip code markets. The indexes use repeat sales pricing technique to evaluate the housing markets. The approach, developed by economists Karl Case and Robert Shiller, uses data on single-family home re-sales, instead of appraised values, to spot the trends in constant-quality home prices. Fiserv produces the Standard and Poors/Case-Shiller Home Price Index.

About Fiserv, Inc.

Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree (www.checkfree.com), a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007. For more information, please visit www.fiserv.com.

AZ Real Estate Commentary

Press Release: Automated Valuation Model (AVM) to Include Home Price Forecasts powered by Fiserv Case-Shiller® Home Price Indexes and Moody’s Economy.com