HomeVision develops technology and tools that utilize data analytics and machine learning algorithms to enhance accuracy in residential real estate appraisals. The platform addresses inefficiencies in traditional appraisal methods, providing faster and more reliable property valuations for real estate professionals.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional residential real estate appraisals often involve manual review of unstructured data, leading to inefficiencies and potential inaccuracies. Quality control processes can be time-consuming and prone to human error, resulting in slower turnaround times and increased revision requests.
Solution
HomeVision offers MIRA (Machine Intelligence Review Assistant), a valuation review solution that leverages machine intelligence to automate and enhance quality control in residential appraisals. MIRA uses optical character recognition (OCR), natural language processing (NLP), and machine learning (ML) to analyze every page, word, and image within an appraisal report. The platform identifies relevant passages, errors, and omissions, providing a comprehensive review of unstructured data. MIRA streamlines workflows by offering a live view of appraisal content alongside QC results, enabling custom QC rules based on loan or form type, and automating routing based on pre-defined rules.
Target Audience
HomeVision primarily serves Appraisal Management Companies (AMCs) and lenders seeking to improve the efficiency and accuracy of their residential real estate appraisal review processes.
Features
- Optical character recognition (OCR) to classify every page in the appraisal report, including notes and sketches.
- Natural language processing (NLP) to identify and label all content within the appraisal, including text addenda.
- Machine learning (ML) to analyze every photo and image, detecting blurry images, MLS photos, inappropriate content, and personally identifiable information.
- Customizable QC rules based on loan type, form type, and client-specific guidelines.
- Automated routing of appraisals based on passing or failing rules.
- Integration with existing Loan Origination Systems (LOS) or Appraisal Management Systems (AMS).