Anow powered by Voxtur, an AI optimized valuation platform for the global appraisal market, hit a major milestone with 2,000 appraisals processed through its exclusive express order program, which launched recently.
“Hitting milestones like this allows us to move the needle to help appraisers be more efficient,” said Anow President Marty Haldane. “The express program helps appraisers and lenders to attain certainty and leverage insights by working smarter and faster. We aren’t waiting for the GSEs to change policies in order to make appraisals more efficient. Instead, by working with a very select group of appraisers armed with this technology, everyone involved in the mortgage transaction benefits.”
The express order program leverages artificial intelligence to facilitate real-time mobile geolocation of appraisers and their upcoming availability, combined with a homeowner and realtor communication chat bot that facilitates placement of appraisers with properties same or next day. This scheduling tool, combined with a patent-pending collaborative appraisal report generator tied to multiple data sources, significantly accelerates the completion timeline for an appraisal. For example, in Houston, full 1004 and 1073 appraisals are completed in as little as two hours. AI-enabled automated reviews ensure these appraisals exceed every standard. By comparison, the average residential appraisal takes over six business days to complete, and as long as a month in some markets.
“We are thrilled to be able to deploy Voxtur’s unique AI to allow appraisers to compliantly execute appraisals with unparalleled efficiency as they navigate through their pipeline,” said Voxtur President Jim Albertelli.
Anow is part of Voxtur Valuation which is an AI-enabled, generative platform containing a broad product suite employing machine learning and underpinned by big data, all combined to deliver an optimized experience. Each year, close to 1 million homes are appraised using the Anow platform.
“The Anow appraiser-first model reinforces the Voxtur vision of an on-demand ecosystem of the entire real estate transaction,” said CEO & Chairman Gary Yeoman.