Axios Valuation Solutions, a nationwide appraisal management company, has announced the release of the Desktop Appraisal.
The Axios Desktop Appraisal combines Axios’ proprietary technology, data, analytics and the expertise of a local market appraiser to deliver a compliant and reliable valuation. The subject property is inspected by a local licensed real estate professional and is then combined with the local appraiser’s geographically competent market analysis and opinion of value. This combination provides confidence beyond a traditional evaluation, at nearly half the cost, according to Axios.
“This product will transform the valuation space by delivering a high-quality, credible and compliant product to financial institutions at a time when the industry is searching for alternatives to a full appraisal,” said Tony Pistilli, executive vice president and chief appraiser for Axios Valuation Solutions. Pistilli is also the creator of the Desktop Appraisal. “Compliance is a key component of the Axios Desktop Appraisal. Each of the components meets or exceeds the requirements within the Interagency Appraisal and Evaluation Guidelines. As AVMs combined with Property Condition Reports become more difficult to use, I see this as an excellent product to meet the needs of the lending industry while remaining totally compliant with the regulatory agencies.”
"We have a number of lenders that intend to use this product for home equity originations, but every day we are learning of new ways our clients plan to use the Axios Desktop Appraisal," said Christopher Thurber, senior vice president of business development for Axios. “This extends beyond providing an alternative product at a more affordable price. Fraud detection continues to be at the forefront of industry concerns. We utilize our proprietary technology and processes to validate the information provided in every report. This nearly eliminates the opportunity for valuation fraud. This, along with providing 20 sales and 10 listings beyond the standard three comps, provides our clients with an extra layer of confidence. We couldn't get this product delivered fast enough. It is an exciting time for the mortgage space.”