Appraisal solutions firm Restb.ai has unveiled its new Valuation Product Suite, designed to expedite the modernization of property appraisals.
With the introduction of the new GSE standards (PDR/PDC), requiring more detailed data for each property report, efficient processing and handling of inspections is paramount.
Restb.ai’s latest venture dovetails with a significant shift by Fannie Mae, which now evaluates photos for condition and has been rejecting appraisals when comparables are used without the appropriate adjustments.
“Restb.ai’s computer vision solution empowers the appraisal industry with what it needs for this change by Fannie Mae,” says Tony Pistilli, general manager, valuations, for Restb.ai, in a release.
“The new products we are launching for the appraisal industry are all about modernization,” adds Nathan Brannen, chief product officer for Restb.ai. “Our AI solutions enable appraisers to more quickly analyze properties and markets so they can spend more time using their expertise to produce better valuations.”
Restb.ai’s computer vision can automatically pre-populate and/or validate most required fields for appraisal reports, the company claims.
Key features of the suite include the following:
Comparable Properties: The API delivers up to 200+ recently sold comparable properties when provided with a subject property address, distinguished by Restb.ai’s proprietary image-based condition and quality analysis.
Data Collection: A solution crafted for mobile data collection apps, enabling real-time image analysis and auto-populating of relevant features within the app. It is also capable of validating client-entered details with corresponding photos.
Form Pre-Population/Validation: Restb.ai’s APIs can pre-populate and/or validate common appraisal and inspection forms based on public records data, property data, and most importantly, the property photos included in the report.
Appraisal Complexity Score: Prior to an appraiser being assigned, Restb.ai’s complexity score provides instant clarity on the intricacy of a property based living areas and lot sizes, as well as image insights like its condition or unique style.
Photo: Alexander Andrews