Before AppraisalVision, the industry was facing ...
Defect Rates within Reports
Impact on Operations and Financial Performance
While there are plenty of order management systems available today within the residential valuation industry, vendors are still exposed to undefined risk
Rather than building a new order management system or automated review platform, we set out to radically transform the home valuation process - with the long-term goal of shifting the mindset of an entire industry that has seen little to no change in decades.
Oftentimes, systemic issues present misplaced solutions without the proper macro-analysis. Institutions that actively accept and deliver collateral are unable to manage the process accurately, leaving them susceptible to loss on account of siloed data.
Hundreds of millions have been spent on technology to manage processes that were broken to begin with, causing the industry to fall short of efficiently minimizing risk. Lenders and appraisal management companies (AMCs) have become so desensitized to market inefficiency that they look at the products they’re purchasing and accept high defect rates as normal. But this presented us a unique opportunity. We’ve spent the last few years analyzing data and answering questions the industry doesn’t teach participants to normally ask. However, collecting and maintaining that data is – again – inefficient, and even if you could collect all the data, would you know how to interpret it?
Our system has analyzed over one million appraisal orders since we started this journey in 2017. The data associated with each appraisal order has derived the development of a true multitenant data ecosystem. Through the aggregation of data, embedded analytics, and machine learning from a multitude of sources, we’ve made the process SMARTER. Today, data is a commodity, and that data is the key to modernization. We’ve taken a reactionary process and transformed it into a proactive business model. Not only did we create a platform that helps you identify the problem, but we’ve created a platform that prescribes the best solution.
In our efforts to revolutionize the valuation industry, through data and analytics presented in a user-friendly way, we’ve not only identified the inefficiencies in the process, but we’re dedicated to eliminating them. Because there’s a secret that everyone knows, but no one wants to admit - they’re the same inefficacies all your competitors face, too.
The network of brokers, lenders, AMCs, and appraisers that do business within our platform’s proactive, multitenant architecture capitalize on a greater competitive advantage than the industry has seen in decades. It took bringing all the industry and client data into a single-use platform, followed by a shift in our vision as a company, to rebuild unconventional operations around automation, instead of building automation around an inefficient process. AppraisalVision is a digital platform built from the ground up by mortgage lending, valuation, and data experts to bring clients, not the most familiar, but the best and most efficient user experience possible.
By implementing our platform, either as a substitute for or within your current system, we help provide transparency into the reality of your business and supply chain. Our vision is to reinvent the home valuation process by offering our clients innovative technology and a suite of alternative valuation products that mitigate risk for industry stakeholders, while giving them the tools they need to grow.