HouseCanary, the leading provider of modern valuation and appraisal solutions, has expanded its Agile Appraisal Management Platform through partnerships with leading appraisal management company AXIS Appraisal Management Solutions and Mercury Network. The collaboration will drive growth of Agile Appraisal, a valuation platform on which appraisers develop USPAP and FIRREA compliant reports, HouseCanary announced in a press release.
Agile Appraisal enables delivery of appraisals to users in as little as five business days by combining HouseCanary’s data and analytics with the expertise of local appraisers — all at a lower cost than a Fannie Mae Form 2055. The platform’s foundation is HouseCanary’s real estate data and analytics, allowing appraisers to focus attention on valuation and significantly reducing the appraisal timeline.
“We are excited about expanding with AXIS Appraisal Management Solutions and Mercury Network to continue modernizing the appraisal landscape,” House Canary’s Analytics Executive Vice President Alex Villacorta said. “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.”
As part of the partnership, AXIS Appraisal Management 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 than ever before while still maintaining the accuracy and confidence they expect in their valuations.
“Lenders and investors need alternative valuation products based upon risk and need that still include an appraiser’s expert opinion of value. 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,” AXIS Co-President Kim Perotti said.
“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,” AXIX Co-President Michael Simmons said.
Agile Appraisal 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. With this technology, HouseCanary, AXIS Appraisal Management Solutions and Mercury Network will continue modernizing the appraisal industry.
“Alternate valuations are becoming more and more prevalent in today’s market. We are excited to have both companies on board and to offer this product to other Mercury Network customers,” Mercury Network President Jennifer Miller said.