has announced the launch of Property Vision, an appraisal inspection tool to empower appraisers with consumer-provided photographic data. Property Vision gives borrowers the assurance that their lender cares about their health and safety and gives lenders fully-compliant real estate valuations, all while keeping appraisers out of harm's way.
"While the government has offered the industry the option of using desktop and exterior-only appraisals in a variety of circumstances, lenders are still finding the need to order interior inspections," said Frank Danna, chief executive officer of Appraisal Logistics. "As it is necessary to keep our appraiser partners safe, give borrowers the assurance that their lender cares about their health and safety and give our lenders fully-compliant real estate valuations, Appraisal Logistics has introduced Property Vision."
Appraisal Logistics developed the software, which allows the consumer to take interior photographs of their home using any Web-enabled device equipped with a camera. There is no app to download and consumers are provided with simple instructions that walk them through the process. The technology automatically collects geocoding information and other metadata to ensure that the photographs are of the subject property and then makes them available to the appraiser for use in arriving at an opinion of value.
"Property Vision is now an integral part of our new COVID-19 valuation products, including our COVID-19 Desktop Valuation and our new COVID-19 Drive-By evaluations," said Mark Tague, vice president of sales for Appraisal Logistics. "We're making it available to all of our appraisers, banks that use our AIM-Port appraisal management tool and even competing AMCs who want to protect their appraisers."
AIM-Port is a single source solution developed to bring management and operations teams, technical tools and vendor partners together seamlessly. The platform improves workflow efficiency and accuracy in a cost-effective manner to support the lender's own vendor process. The software can be used for residential or commercial valuations and BPO transactions.