RISMEDIA, May 29, 2008-Appraisal imagery provider Visre, Inc. announced a multi-year partnership with JVI Appraisal Division, LLC, a national leader in providing REO valuations, portfolio evaluations, and origination appraisal services. Armed with Visre’s ability to rapidly capture and authenticate high quality property photos and video, JVI will introduce new image-enabled valuation products designed specifically to meet industry demand for improved reliability, faster turnaround, and lower costs.
A single Visre vehicle mounted DriveBy Camera system can capture images of thousands of properties in a single day. The DriveBy Camera system includes 8 cameras, a GPS device, high capacity drives, a laptop PC, and broadband mobile connections. Each of the eight cameras captures twelve high resolution images per second while the GPS device simultaneous records location. The system then links each photo to the GPS coordinates as well as the time and date of capture.
With this information, Visre can deliver those photos or videos that meet the needs of its partners and their customers. Specifically, Visre can “authenticate” the images; meaning, that Visre can link the images to the location, time, and date of capture. With these capabilities, JVI will bring new offerings to its client base. Image enabled features will range from address authenticated photos to supplement valuation reports, to 360° DriveBy videos that empower a broader review and comparisons with neighboring properties on the street. Resulting in a higher quality valuation, the visual data brings with it new levels of analysis never before available to a desktop review.
“This is a win-win for JVI, our clients, and our family of appraisers,” explained Ron L. Nation, MAI, SRA, founder and president of JVI. “With Visre, we can verify the source of the image, the date of capture, and the location of the property. To reduce the risk of alteration, we can also imprint this information as well as embedded logos and trademarks on every image frame. The net results for our clients are improved reliability, security, faster turnaround, and lower costs.”
As one of Visre’s first national partners, JVI will use Visre imagery to offer new and improved products and services in the REO valuation, portfolio evaluation, and mortgage origination markets.
To accelerate the availability of image enabled products and services throughout the country, Visre will offer JVI’s national network of appraisers the opportunity to license territories and Visre DriveBy Camera systems. “We think our appraisers will see the benefit in joining Visre as imaging partners,” explained Hank Pruett, senior vice president of JVI Appraisal Division. “As the valuation industry demands increase for these image enabled products, they will share in that success. As we generate orders for our new image enhanced products, our appraiser licensee network will also benefit from the additional increase in appraisal volume.”
“With our ability to image thousands of properties per day with a single DriveBy Camera system, we hope to provide JVI and its lender clients with the ability to perform bulk appraisals of existing portfolios,” summarized Visre president and CEO Billy Meadow. “Our goal is to help JVI, appraisers, and lenders each generate additional value and mitigate risk with Visre’s image capture and processing capabilities.”
For more information, visit www.visre.com.