An appraisal can now go from start to finish is as little as a few days! In fact, AppraisalVision can theoretically verify the value of the home at the time of application. Yes, it’s finally true. Now, lenders and AMC's can use AppraisalVision to verify value just as quickly as they verify credit, income, assets and employment today at time of application. What’s more, the appraisal can happen without any of the inefficient and costly manual labor that your employees traditionally perform.
Today, it still takes an average 9 days to obtain an appraisal – and another 10 days for the value to be verified by an underwriter. The delays impact your revenue and they disappoint consumers, whose expectations have changed with the speed of the digital economy. For example, compare the appraisal process with the 1-day to 3-day delivery times of Amazon.
Since mortgage lenders are still highly dependent on suppliers to verify credit, income, assets, employment and the value of the home, even more delays can occur.
The result is that 50% of the time it takes a lender more than 19 days to verify the value of a home, and it still takes over 40 days on average to close.
AppraisalVision uses AI to create the first complete digital marketplace for AMC and Appraiser selection.
The benefits are extraordinary:
Remarkable benefits for all stakeholders
Revolutionizes the way Lenders, AMCs and Appraisers collaborate