HouseCanary and AXIS Appraisal Management Solutions and Mercury Network have partnered to expand HouseCanary’s Agile Appraisal™ platform, HouseCanary recently announced. The collaboration will drive growth of the platform, on which appraisers develop USPAP- and FIRREA-compliant reports. As part of the partnership, AXIS will offer Agile Appraisal to premier appraisers, allowing them to continue their service for their bank and credit union clients by completing a higher volume of appraisals, while still maintaining the accuracy and confidence they expect in their valuations.
“We are excited about expanding with AXIS Appraisal Management Solutions and Mercury Network to continue modernizing the appraisal landscape,” says Alex Villacorta, PhD, executive vice president of Analytics at HouseCanary. “With our comprehensive data and analytics platform, their appraisers can efficiently spend their time and attention on the key aspects of the valuation analysis, especially when utilizing our integrated tools around comp selection and adjustments, which results in reduced revisions and time savings for all parties. Our partnership will bring efficiency and consistency to our mutual property valuation clients through this innovative bifurcation process.”
“Lenders and investors need alternative valuation products based upon risk and need that still include an appraiser’s expert opinion of value,” says Kim Perotti, co-president of AXIS. “Agile Appraisal provides a powerful solution in times when a full appraisal is too much and an AVM is not enough to assess risk in any given market.”
“This product is perfect for portfolio review and HELOCs (home equity lines of credit), and we are proud to be adding this offering to our wide array of products,” says Michael Simmons, co-president of AXIS.
“Alternate valuations are becoming more and more prevalent in today’s market,” says Jennifer Miller, president of Mercury Network, now part of CoreLogic. “We are excited to have both companies on board and to offer this product to other Mercury Network customers.”
Agile Appraisal’s foundation is HouseCanary’s real estate data and analytics, allowing appraisers to focus attention on valuation and significantly reducing the appraisal timeline. The platform uses regression-based adjustments for location, time, and property characteristics, all while leveraging block-level valuation ranges to conduct automated checks of the final value. The platform enables delivery of appraisals to users in as little as five business days by combining HouseCanary’s robust data and analytics with the expertise of local appraisers—all at a lower cost than a Fannie Mae Form 2055.
For more information, please visit www.housecanary.com/agile-appraisal.
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