Yodlee, a trusted leader in providing innovative financial solutions, announced today the addition of a new Real Estate Center to its market-leading personal financial management (PFM) solution: Yodlee PersonalFinance.
Using tools from Zillow.com, an online real estate community with data and home value information on more than 70 million homes, consumers will now have access to a real-time market value of their home, allowing for a more holistic view of their total net worth.
Yodlee PersonalFinance automatically consolidates and tracks consumer data from a variety of financial sources such as bank accounts, investments, insurance, mortgages, 401(k) plans, etc. This feature is designed to help consumers easily understand where their money is and how it's being spent, as well as the ability to set personalized budget goals, monitor against fraud, and much more. The new Real Estate Center leverages data from Zillow to add Zestimate values to the financial picture. A Zestimate value is Zillow's starting estimate of a home's worth, based on hundreds of data points and local market trends.
In a March poll released by Bankrate.com, more than three in 10 U.S. homeowners have no idea what type of loan they own. This indicates a lack of consumer awareness when it comes to financial health and other key elements affecting one's net worth, such as housing and mortgage status.
"Our goal is to make managing finances online as easy as possible for consumers, and we recognize that a net worth picture is incomplete without many people's most important asset: their home," said Anil Arora, president and CEO of Yodlee. "Our usage of Zillow's Zestimates and home data empowers consumers to make more informed financial decisions, while giving financial institutions an opportunity to deepen customer relationships. This is another important step for consumers towards understanding and improving their financial health."
Key Features of Yodlee's Real Estate Center include:
- Complete Financial Picture - provides a live representation of equity in a home, including a debt/equity ratio, for a more complete asset equation
- Home Value Alerts - consumers can set personalized alerts to be notified when a home value or overall net worth changes significantly
- Market Value Comparison - allows consumers to compare their home value to others, based on neighborhood, zip code and state
- Mobile Access - the net worth view and PFM capabilities available online are also automatically enabled for mobile devices for true anywhere, any time access