Category: News

Jumpstart services for product modernization, cost reduction and generative AI adoption

Las Vegas, NV/ August 7, 2023 / – PropMix, the leading provider of real estate and mortgage AI platform is pleased to announce the launch of the AI Innovation Center for Appraisal Management Companies and Mortgage Lenders. Jumpstart services provided in partnership with Innovation Incubator Inc. will accelerate artificial intelligence driven product modernization and cost reduction using Generative AI, Prompt Engineering, AI chatbots and immersive experience technologies on Amazon and Microsoft cloud.

“Generative AI is disrupting valuation risk assessments and lending decision making, mortgage product customization, customer service, document generation and marketing,” said Umesh Harigopal, CEO at PropMix.io LLC. “Our partnership with Innovation Incubator will help AMCs and Lenders extend their innovation lab by subscribing to the AI Innovation Center and to accelerate time to market and continue to be essential in this rapidly changing market”.

The jumpstart services offered through the AI Innovation Center broadly are as follows:

Product Modernization to protect and grow the Customer Base

• Add omnichannel self service AI chatbots to engage borrowers for marketing, point of sales, and customer service.
• Use your historical repository of past appraisals and transaction data with Generative AI models and automate the most common decision points.
• Migrate on premise/legacy applications to web/mobile in a Virtual Private Cloud with REST APIs and immersive experience

Cost Reduction and Productivity Enhancements

• Use Robotic Process Automation (RPA) to automate repetitive tasks, freeing up valuable resources and enabling teams to focus on strategic initiatives.
• Add AI based decision support capabilities to improve customer engagement, underwriting and radical personalization
• Accelerate Data migration to unlock a wealth of new opportunities and superior data-driven outcomes.

“We are excited to partner with PropMix.io to help the Real Estate ecosystem leverage artificial intelligence and modern platform and app delivery capabilities”, said Aiswarya H., Director of Portfolio and Product Management at Innovation Incubator Inc. “Our Cogfab.ai brand experiences in combination with PropMix’s deep knowledge in real estate allows us to accelerate time to value for our customers”.

In an era defined by rapid technological advancements and increasing market demands, PropMix remains steadfast in its commitment to empowering the real estate industry with cutting-edge solutions. The introduction of Generative AI as a service will be a significant milestone in our journey to redefine the landscape of mortgage operations. PropMix stands ready to collaborate with AMCs and Mortgage Lenders, offering a transformative partnership that will shape the future of the industry. For more information on how to leverage these groundbreaking services and position your business at the forefront of innovation, visit our website, http://www.propmix.io or contact us today.

About PropMix.io LLC:

PropMix is the leading provider of the real estate and mortgage AI platform along with apps, insights and data to value, automate and make decisions. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York.

About Innovation Incubator Inc:

Innovation Incubator is one of the leading Artificial Intelligence and immersive experience solution startup incubator/accelerator and technology services company with investments in Real Estate, Health care and wellness, Automotive and Social Retail. Innovation Incubator portfolio companies benefit from entrepreneurs in residence and jumpstart digital accelerators such as the Cognitive Fabric and Data Factory. Founded in 2015 and headquartered in New York, we also have presence in FL, GA, KY, MA, NJ, VA in the USA and Trivandrum, Kerala in India.

PropMix Media Contact:

Sakeer Hassan
PropMix.io LLC
sakeer@propmix.io

Innovation Incubator Inc Media Contact:

Aiswarya H 
+1 470-460-0083
aiswarya@innovationincubator.com

To help consumers and professionals with real estate decision making

NEW YORK, NY / July 6, 2023 / – PropMix, one of a handful of companies in the US that aggregates real estate market data, announced that it is opening up access to nationwide market insights starting with 15 major metropolitan markets. This will help consumers and industry professionals gain quick and easy access to accurate and reliable market indicators.

PropMix gathers real estate data in near real time from various sources across the US and computes numerous predictive insights to support real estate and valuation professionals. The data lake contains billions of data points and over 20 years of history covering over 151 million properties. The platform utilizes deep learning, data science, natural language processing, geospatial analysis, and computer vision techniques to enrich and deliver some of the most comprehensive and accurate decision support systems in the industry.

“While we are opening access for a few selected markets we will soon be adding more markets and geographical boundaries,” said Sakeer Hassan, Chief Operating Officer for PropMix. “We also plan to introduce some cool market visualizations and property level insights in the coming months.”

PropMix also embeds these insights into its solutions for agents, brokers,and appraisers. Thousands of professionals in the housing industry rely on the PropMix platform for their daily operations, risk analysis, and decision making. 

Bookmark the open market insights page and come back to it for the latest updates: https://www.propmix.io/interactive-market-insights

About PropMix.io:

PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York. http://www.propmix.io

PropMix Media Contact:

Sakeer Hassan
PropMix.io LLC
sakeer@propmix.io

PropMix’s Appraisal Digitization now powers Tavant’s Touchless Lending® platform

NEW YORK, NY / April 4, 2023 / – Tavant, a leading provider of AI-powered digital lending solutions for the consumer lending industry, today announced expanded functionality within its Touchless Lending® platform through a new partnership with PropMix, a fast-growing real estate valuation, decision support, and automation platform.

Tavant’s Document Analysis product within the Touchless Lending platform completely transforms the document-intensive mortgage origination process by automating recognition, classification, indexing, splitting, extracting loan data, and eventually, contextualizing this data for algorithmic processing and associating it with the borrowers on the loan. “PropMix’s Appraisal Digitization platform has helped us accelerate our product offering with a simple API interface to the complex process of extracting reliable data from appraisal PDFs,” said Mohammad Rashid, Head of Fintech Innovation at Tavant. “This partnership helps Tavant vastly improve (and for some cohort of loans, remove) the underwriters’ loan review process within the Touchless Lending loan manufacturing pipeline.”

Appraisal Digitization from PropMix combines image processing, deep learning, OCR, and real estate valuation knowledge to deliver an accurate and consistent service to transform PDFs of various quality levels and different standard appraisal forms such as single-family, condo, or multi-family appraisals. “We are excited to work with Tavant to power their digital lending solutions for the industry,” said Daniel Mancino, EVP at PropMix. “Digitizing and extracting data from appraisal documents is an integral part of our appraisal modernization strategy.”

PropMix specializes in implementing AI and machine learning models for extracting data from unstructured sources such as documents and images and integrating such data with its comprehensive housing market and public property data to deliver business solutions for mortgage, valuation, and real estate sectors.

About Tavant

Headquartered in Santa Clara, California, Tavant is a digital products and solutions company that provides impactful results to its customers across North America, Europe, and Asia-Pacific. Founded in 2000, the company employs over 3000 people and is a recognized top employer. Tavant is creating an AI-powered intelligent lending enterprise by reimagining customer experiences, driving operational efficiencies, and improving collaboration.

Find Tavant on LinkedIn and Twitter.

About PropMix.io

PropMix.io LLC is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with an intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York. http://www.propmix.io

Tavant Media Contact:

Adrie Morales
adrie@williammills.com
678-781-7227

PropMix Media Contact:

Sakeer Hassan
PropMix.io LLC
sakeer@propmix.io

Buy Box alerts, powered by nationwide market data and geospatial analytics, helps instantly connect agents with potential buyers

NEW YORK, NY / March 6, 2023 – PropMix, a leading provider of data, insights, and solutions for the real estate and mortgage industries, today revealed Buy Box, part of its Prospektr suite, to help iBuyers, investment managers, and single family rental companies easily identify properties that fit their investment strategy and connect with listing agents.

PropMix’s nationwide data platform collects data near real time  from 400+ data sources composed of listings, for-sale-by-owner, pre-foreclosures, and HUD sales making it one of the most comprehensive single-source to know when a property is on the market. Combining that with the AVM and rent values on every property gives investors the ability to include criteria such as undervaluation, cap rates, and ROI into buy boxes.

“We buy and sell foreclosed homes that meet our unique business strategy which aims to maximize the returns for investors,” said Daniel Testa, Director of Acquisitions at Castlerock REO. “In this shifting market, PropMix’s buy box service has been adapting to our changing strategy to find the best buying opportunities.”

PropMix combines property data with numerous geospatial data points such as water bodies, power lines, highways, airports, waste or contamination sites, and so on to enable better targeting of the buy-boxes. “Our comprehensive data and geospatial analytics combined with cutting edge technology is enabling new channels for listing agents to reach potential buyers,” said Umesh Harigopal, CEO of PropMix. “We are excited to serve as the platform enabling highly targeted connections between agents and buyers.”

Buy Box is part of the Prospektr suite which offers a wide range of capabilities for various real estate industry participants such as agents, mortgage lenders, and title companies to collaborate and simplify the home buying process while empowering the homeowner to optimize their largest lifetime investment.

To learn more about Prospektr, visit prospektr.ai

About PropMix

PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the real estate industry enables brokers and agents to nurture long term customer relationships and to create new partnership channels to build and grow their businesses. PropMix also provides valuation solutions under its Profet.ai brand. PropMix was founded in 2016 and is headquartered in New York. www.propmix.io

About Castlerock REO

CastleRock REO is a real estate investment company that specializes in acquiring and selling bank owned or previously foreclosed single-family homes. CastleRock has acquired and carried through to sell more than 15,000 homes since the company was founded in 2010. Through long standing relationships with banks and financial institutions, the company buys bank owned homes  and passes the discount to first-time home buyers and investors. With more than 50 years of combined experience in REO, CastleRock’s team is dedicated to managing all aspects of trading foreclosed homes to the highest ethical standards.

Profet.ai now includes Profet Review – appraisal quality control powered by customizable rule sets, automated comparable scoring, and risk assessment.

NEW YORK, NY / September 7, 2022 / – Today, PropMix has added appraisal reviews to Profet.ai, their flagship platform for property valuations. Profet Review is a comprehensive review platform that automates rule based validations, comparable scoring, and risk analysis to improve appraisal accuracy and compliance. 

Profet Review also supports the extraction of images from the appraisal PDF document and analysis of the images to ensure the required property photos are included. For example, the images should cover different types of property photos – front view, back view, living room, etc., aerial maps, plat maps, appraiser license documents, etc. In addition, it also checks for the presence of humans in the pictures.

The Profet platform is built on PropMix’s nationwide real estate data and machine learning platform and as a result supports deep analysis of comparables to indicate to reviewers of any missed comparables. Profet Review is unique in the industry in the way it combines rule based validations and data driven comparable validation. “AMCs have long asked us for a single platform for all their review needs instead of using different tools for rule drive reviews and comparable scoring.” said Umesh Harigopal, CEO of PropMix. “Profet Review is our answer to streamline the appraisal review process”.

Profet Review, like all other products in the Profet suite, supports single sign-on and fully open and customizable features – custom rule sets, custom review reports, and integration into any order management system or valuation platform. Profet.ai is an ever-growing toolset for the valuation industry to deliver accurate and consistent valuations and reviews. 

About PropMix

PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York. http://www.propmix.io

Publishers can expand their content offerings with automated real estate news stories

NEW YORK, NY / July 21, 2022 / – PropMix.io LLC and United Robots AB have entered into a partnership that enables online publishers to deliver hyper local real estate articles containing sales and market insights. This partnership automates the generation of highly relevant and timely real estate news stories for media companies to attract readers.

It is well known in the media business that local real estate news is publishing gold and gets attention from readers. The combination of data-driven insights from PropMix and groundbreaking AI-driven natural language generation from United Robots enables such content to be automatically published thereby expanding their content offerings with minimal impact to their editorial staff. Cynthia DuBose, VP Audience Growth & Content Monetization at US local media group McClatchy, who publish automated real estate content in 10 of their markets: “We want our journalists to produce journalism, not track down information. They should focus on what they are skilled to do.”.

United Robots provides Content-as-a-Service – a giant content factory, delivering thousands of pieces of automated texts, images, graphics, and more to serve clients in various vertical industries. “We are excited to partner with PropMix to disrupt the real estate news industry and create efficiencies in objective and timely news reporting”, said Sören Karlsson, CEO of United Robots. PropMix gathers and curates real estate data, geospatial data, crime statistics and more from across the nation and extracts insights using machine learning which are trusted by mortgage companies, investors, and realtors. 

“We created the real estate industry’s largest open data and insights platform to power innovations we cannot dream of ourselves”, said Umesh Harigopal, CEO of PropMix. “United Robots is a great example of composing layers of AI to create value in the publishing industry”. PropMix supports an ecosystem of startups and established players by delivering its data and insights such as real estate trends, predictive analytics, and computer vision via 100s of APIs and other traditional integration options.

About United Robots

United Robots is the world’s leading Content-as-a-Service solution for automated editorial content. The company provides automated editorial content from structured data using data science and AI, including NLG (Natural Language Generation). United Robots have provided some 100 news sites with > 4mi automated texts since launch in 2015. The company works as a partner to publishers in Scandinavia, Europe and North America who are using robots as newsroom resources to launch new verticals, drive conversions, provide real-time services, do geo targeting and more.

About PropMix.io

PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions empower users to seamlessly engage with data and insights to research markets, assess valuation complexity, and make real estate decisions. PropMix was founded in 2016 and is headquartered in New York. Visit http://www.propmix.io

Our development center in India opened a new office on July 4, 2022, near Technopark in Trivandrum, Kerala. The facility provides a dedicated space for our employees to work together and have fun from an office space. The new office is located in an upcoming area for the IT industry corridor in Trivandrum, with easy access to both Technopark and Technocity campuses. A central location in the IT hub, easy access to software development talent, convenient transit facilities, and physical and network security infrastructure were important factors in choosing this location. Plenty of options for dining, entertainment and residential facilities make this an ideal choice for our employees, especially the youngsters in the team.

The new facility enables our team members to work from a physical office after having worked from home for more than 2 years. This addresses the need of having an office space that allows people to have in-person interactions with each other and solve problems through face-to-face discussions. The water cooler talk is a reality once again! Working from the office is optional, with some team members opting to work all days from the office, while some others opting to work a couple of days from the office. Those who opt for long term work from home will continue to have the option to do so to maintain the flexibility and convenience of being at home while taking care of their work products, and strike the right balance between work and life priorities.

Profet.ai now includes building sketches from county websites and floor plans where available to help with alternative valuation models.

NEW YORK, NEW YORK, UNITED STATES, June 30, 2022 /EINPresswire.com/ — Today, PropMix is releasing a new version of Profet.ai, their flagship platform for property valuations which includes building plans of residential properties. Profet.ai’s Building Plans, which are also available via APIs, will help appraisal management companies improve appraiser productivity and valuation accuracy by embedding sketches and floor plans directly within the valuation software.

Profet.ai is an ever-growing toolset for appraisers and appraisal management companies to deliver accurate and consistent valuations. The new version of the platform includes building plans as an add-on to any valuation analysis performed within Profet.ai – traditional appraisal, desktop appraisal, hybrid valuation, evaluations, or appraisal complexity analysis.

The add-on supports:

• Building Sketches show exterior walls and limited interior features. They are gathered from counties and curated within the PropMix data lake to provide a consistent interface to utilize them.
• Floorplans show the interior walls and dimensions. They are gathered from builders, MLS listings with permissible use, and contributions from other appraisers.
• Upload of sketches and floor plans by appraisers where they are not publicly available nor are derivable from images.

“Profet.ai is at the forefront of appraisal modernization and we want to support appraisers where the GSE is ready to accept data driven valuations”, said Daniel Mancino, VP of Data Solutions at PropMix. “Providing building plans within Profet.ai saves valuable time for appraisers and in many cases will cut the cost of floor plan generation”.

This upgrade is part of PropMix’s ongoing journey to reimagine the valuation process for appraisers and lenders – to enable a one stop solution for valuation that is transparent and accurate.

To read more, visit https://www.einpresswire.com/article/579121093/propmix-adds-building-plans-to-its-profet-ai-valuation-platform

About PropMix
PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York. Visit http://www.propmix.io

Sakeer Hassan
PropMix.io LLC
sakeer@propmix.io 

PropMix’s Profet.ai platform delivers valuation insights from its curated data lake of MLS and public record data.

NEW YORK, NY / June 24, 2022 / – Accurate Group, a leading provider of technology-driven real estate appraisal, title data, analytics and e-closing solutions announced today that they have integrated with PropMix’s Profet.ai platform. Accurate Group’s ValueNet desktop appraisal technology suite now incorporates valuation insights from Profet.ai to further its market leadership and innovation.

“We selected PropMix and their Profet platform for the exhaustive geographical coverage, data consistency and ready to use insights,” said Tony Pistilli, Chief Appraiser and Director of Valuation Operations at Accurate Group. “We are always looking for unique ways to continue modernizing our appraisal workflows and practices and PropMix’s Profet.ai will be a vital component in that journey.”

Profet.ai is a property valuation platform composed of APIs and applications and is driven by nationwide listing and public record data and insights. Profet provides comprehensive valuation capabilities including flood data and maps, plat maps, and building sketches. Its OneScore appraisal complexity reports are used extensively by AMCs to assess valuation complexity, risk, and effort before accepting an assignment.

“Accurate Group is one of the leaders in the valuation space and we are excited and thankful for the opportunity to enable their valuation business,” said Umesh Harigopal, CEO of PropMix. “The Profet.ai platform has been growing both in terms of market footprint and functionality directly driven by appraisers.”

ValueNet and Profet.ai together simplify the valuation process by enabling a single point access to sales and listing comparables and inventory analytics from all 3100+ counties in the US. The result is improved appraiser productivity and reduced turnaround times on valuation assignments. 

About Accurate Group

Accurate Group is a real estate technology and services leader delivering technology-driven property appraisal, title data, analytics and digital closing solutions to banks, credit unions, servicers, non-banks and capital market firms. By combining modern process automation, accurate data and innovative SaaS and mobile technologies, Accurate Group provides its clients with the best combination of speed, quality, regulatory compliance and price. With Accurate Group, the real estate finance community and consumers benefit from market-leading solutions that enable modern digital frameworks, improve accuracy, lower costs and improve compliance across all types of real estate loans, mortgage-related assets and real estate portfolios. Visit www.accurategroup.com.

About PropMix.io

PropMix.io LLC, is a real estate data, insights, and solutions company with deep experience in commercializing Artificial Intelligence. PropMix’s platform and solutions are widely used by mortgage lenders, appraisers, realtors, and investors. Built on industry open standards and with intuitive user experience, PropMix’s solutions for the appraiser and lender market empower users to seamlessly engage with data and insights to understand collateral risk, assess appraisal complexity, and make valuation decisions. PropMix was founded in 2016 and is headquartered in New York. Visit http://www.propmix.io

Accurate Group Media Contact:
Correne Jackman
Accurate Group, LLC
216.672.3620
cjackman@accurategroup.com

PropMix Media Contact:
Sakeer Hassan
PropMix.io LLC
sakeer@propmix.io