MANHASSET HILLS, N.Y., May 5, 2020 – PropMix.io, a leader in real estate data, insights, and solutions today announced the launch of the HomeRun – a digital mobile friendly solution that enables appraisers to collect property information and interior photos from homeowners using a secure platform and minimize their valuation risk.
The Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac have recently announced many modifications to the appraisal requirements to deal with limitations of appraisal processes under the unprecedented circumstances imposed by COVID-19. One such modification obviates the need for interior inspections for certain mortgages. But lending institutions, appraisers, and appraisal management companies (AMCs) are eager to gather as much information and photos as possible to manage their valuation risk. PropMix.io developed HomeRun to address this need in the industry during the COVID-19 emergency.
HomeRun enables an appraiser to gather vital property information and photos from a homeowner in the most convenient, reliable, and secure manner while complying with the required social distancing guidelines. It also ensures that the homeowner provides the necessary attestation for the information provided. HomeRun is being offered for free to all industry participants in response to the COVID-19 situation.
“An appraiser can simply initiate an order with just the property address and the homeowner’s contact information,” said Daniel Mancino, VP of Data Solutions at PropMix.io. “The app walks the homeowner through a few simple steps to complete a form and upload photos which are validated against our nationwide public record data and geocodes.”
In addition to the validation of the location of the photos, PropMix.io is in the process of integrating HomeRun with AppraisalVision, their deep learning engine for image recognition, to improve automated guidance for homeowners. Such guidance will significantly decrease the time to gather information and also reduce the back-and-forth between appraisers and homeowners during the information collection process.
Visit homerun.propmix.io for more information and start using the tool now.
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, PropMix.io empowers users to engage with data, make decisions using insights and build the real estate technology of the future. PropMix was founded in 2016 and is headquartered in New York