Skip to main content

Bradford Technologies Unveils CompCruncher 3

NationalMortgageProfessional.com
Mar 27, 2013

Bradford Technologies Inc. has launched CompCruncher 3, the third generation of the technology that introduced statistical analysis into collateral valuations with its valuation product, CVR (Collateral Valuation Report). CompCruncher 3 introduces several innovations, including seamlessly incorporating statistical support into traditional appraisal products and auto-generating appraisal reports, such as the 1004, with a single click. With the original CompCruncher, statistical support was only available in the CVR appraisal. The new version enables statistical analysis to be used in traditional appraisals. CompCruncher 3 introduces a new “S” designation for appraisal reports, such as the 1004S and 2055S. This designation signifies that the appraisal has a statistically supported value derived by analyzing hundreds of properties, rather than the three comparables typically used to support a traditional appraisal. The “S” designation in a 1004S or 2055S will help appraisers to quickly differentiate their superior, statistically supported appraisals from traditional appraisals. CompCruncher 3 offers the industry’s first and only single-click population of appraisal forms, generating a 100 percent USPAP- and UAD-compliant appraisal report in seconds. CompCruncher 3’s form filling engine eliminates the appraiser’s tedious and time-consuming form filling tasks, saving appraisers hours of time that can now be allotted to higher yield activities. The system automatically generates all the analysis documentation for the appraiser’s work file to ensure compliance with USPAP guidelines. “CompCruncher 3 adds the statistical analysis that increases an appraisal’s accuracy while dramatically reducing the time it takes to complete the assignment,” said Jeff Bradford, CEO of Bradford Technologies. “For lenders, that means lower risks with a more reliable appraisal. For appraisers and AMCs, it means delivering a superior product in less time. ”  With the original CompCruncher, appraisers were required to complete rigorous training in applied regression analysis to create the CVR. That training is no longer required. CompCruncher 3 has made the analysis so intuitive that statistics can now be applied effectively by all appraisers, with minimal training and instruction. CompCruncher 3 is easy to use because it guides the appraiser through the valuation process in a structured, methodical workflow. At each step of the process, special “worksheets” are used to automatically analyze the different facets of the market and subject property. All worksheets are part of the appraiser’s work file. They fully document the entire appraisal process and the due diligence that was performed in arriving at the value conclusion, which can help appraisers rigorously support their value conclusions if needed. “CompCruncher 3 is empowering appraisers with the tools they need to overcome some of the biggest challenges they've seen since the mortgage crisis, including staying compliant and increasing their earnings,” said Bradford. “This is a big milestone for appraisers. We’re happy to be launching the industry’s first computer-aided appraising technology.”
Published
Mar 27, 2013
More from
Tech
Liquid Mortgage Technology Supports Efficient Debt Market

Liquid Mortgage received a U.S. patent for its distributed ledger technology to support its future vision of efficient and transparent debt markets.

Tech
Jul 22, 2021
Rocket Expands Home Search Tool To All 50 States

Rocket Homes announced its growing home search tool now includes listings from all 50 states.

Tech
Jul 21, 2021
Better's One-Click Checkout Now Offers Title Insurance For Refi's

Better announced it has been licensed as a title insurance provider for refinance transactions through Better Settlement Services (BSS) in Virginia. 

Tech
Jul 20, 2021
Fairway Independent Mortgage Uses Doma To Improve Refinance Business

Doma Intelligence platform will remove key points of friction and frustration that affect traditional mortgage closings.

Tech
Jul 16, 2021
Total Expert For Salesforce Improves Customer Engagement

Total Expert announced their integration with Salesforce to enable marketing and customer engagement on behalf of advisors, loan officers, and personal bankers. 

Tech
Jul 15, 2021
Lendsmart Integrates With Freddie Mac To Digitize Underwriting

Lendsmart’s platform unifies all the parties involved and reduces operational costs.

Tech
Jul 14, 2021