Asteroom Inc. recently launched its new nationwide desktop appraisal data collection service. This service enables the new property valuation method called desktop appraisal endorsed and approved by Fannie Mae and Freddie Mac that started on March 19, Asteroom stated in a press release.
The first complete solution to be introduced in support of desktop appraisals, which do not require an appraiser's physical inspection, Asteroom said it’s national desktop appraisal data collection service features the company's proprietary 3D tour and floor plan technology to document interior and exterior visual and dimensional data for residential properties.
AMCs and appraisers can receive ANSI-compliant 2D floor plans with GLA calculations and a complete 3D tour of the interior and exterior, including street view shots, within 24 hours, the company stated. The unique national desktop appraisal data collection solution mobilizes Asteroom's network of Realtors, who have real estate knowledge and property access, to collect the data using Asteroom's smartphone-enabled 3D tour kits, the company said.
According to the company, appraisers prefer Asteroom’s data because it includes a 3D tour that allows the appraiser to view the property remotely in its entirety for accurate and reliable appraisal results. Appraisal management companies leverage Asteroom’s photography technology and in-person coverage to manage the data collection process in just 24 to 48 hours.
To streamline the loan process with reduced appraisal times, the mortgage industry is encouraging desktop appraisals, which are likely to see increased adoption, particularly with validated, accurate values made possible through Asteroom’s all-inclusive solution.
“We are expediting the appraisal process with many of our initial desktop assignments being completed in three days start-to-finish,” Asteroom CEO Eric Tsai said. “The property can be visited the same day the order is placed so that data is provided to the appraiser the next day. By serving as the “onsite eyes” of the appraiser, we are able to give them confidence in their valuation while also increasing their efficiency and volume by eliminating travel and inspection time.”