SAN FRANCISCO — November 27, 2017 — HouseCanary, the leading provider of modern valuation and appraisal solutions, has expanded its Agile Appraisal Management Platform further through partnerships with leading appraisal management company AXIS Appraisal Management Solutions and Mercury Network. The collaboration will drive growth of Agile Appraisal, a fast, flexible valuation platform on which appraisers develop USPAP and FIRREA compliant reports.
Agile Appraisal enables delivery of appraisals to users in as little as five business days by combining HouseCanary’s robust 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. The entire process is fast, accurate, and affordable, all while facilitating full compliance.
“We are excited about expanding with AXIS Appraisal Management Solutions and Mercury Network to continue modernizing the appraisal landscape,” said Alex Villacorta, PhD, HouseCanary’s Executive Vice President of Analytics. “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.”
“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,” said Kim Perotti, Co-President of AXIS. “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,” agreed Michael Simmons, Co-President of AXIS.
“Alternate valuations are becoming more and more prevalent in todays’ market. We are excited to have both companies on board and to offer this product to other Mercury Network customers,” said Jennifer Miller, President of Mercury Network, now part of CoreLogic.
As part of the partnership, AXIS Appraisal Management will offer Agile Appraisal to premier appraisers, allowing them to continue their unmatched 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. 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.
Founded in 2013, HouseCanary's mission is to help people make better real estate decisions. Built on a foundation of great data, powerful models, and predictive analytics, the HouseCanary platform aggregates millions of data elements, including more than four decades of property data and a rapidly expanding arsenal of proprietary calculations and analytics, to accurately define and forecast values and market influences. HouseCanary is financed by notable investors including Hillspire (Alphabet Executive Chairman Eric Schmidt's family office), PSP Growth/PSP Capital (firm founded by entrepreneur and former Commerce Secretary Penny Pritzker), Alpha Edison, ECA Ventures, Raven Ventures and others top Silicon Valley investors. The company is headquartered in San Francisco.
About AXIS Appraisal Management Solutions:
Founded by experts in appraisal and lending after the housing crisis of 2009, AXIS is one of the leading independent AMCs with nationwide coverage. AXIS invests in the best people, technology, and innovative solutions to serve the mortgage industry and consumers. AXIS helps the mortgage industry and consumers reduce risk and drive profitable and prudent lending decisions by providing the highest quality appraisals completed by local, talented appraisers compensated well above industry standards. A full-service AMC, AXIS also provides expert reviews, and the most accurate valuation intelligence products available. Visit www.axis-amc.com.
About Mercury Network:
Mercury Network, now a part of CoreLogic, serves nearly 1,000 lenders and AMCs with six core valuation technology solutions, including two leading appraisal management platforms, as well as add-on modules for commercial appraisal, appraisal quality control, alternative valuations, and additional closing services such as flood certificates and income verification. For more information about the company, visit www.mercuryvmp.com.