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Class Valuation solutions modernize appraisals using mobile technology and machine learning

Property Fingerprint combines mobile technology and machine learning for greater transparency, granularity, consistency and credibility

The word “innovation” has rarely been used when referencing appraisal management companies. Class Valuation plans to change that by delivering technology that improves upon an already stellar customer service record, provides lender and investor certainty, and enhances the experience of all users along the way.

At a time when so many are competing to bring the industry modernization, Class Valuation has delivered a holistic digital solution that will change the future of the profession.  

The introduction of Property Fingerprint and Class INtelligence combine unbiased comprehensive property data collection, enhanced quality control and other performance factors connecting the feedback loop and providing for end-to-end improvements and efficiencies.

“Industry stakeholders have been pleading for innovation and improvement from our profession,” said Scot Rose, chief innovation officer at Class Valuation. “Class Valuation is leveraging advanced technologies to answer their call. Whether an investor, lender, appraiser or a consumer, we will improve the experience and bolster the confidence of all stakeholders in the process.”

Class Valuation’s Property Fingerprint combines mobile technology and machine learning to generate virtual tours, detailed floorplans and enhanced property data to ensure greater transparency, granularity, consistency and credibility.

User validations are integrated ensuring accuracy and reduced QC revisions. Property deficiencies cannot be concealed, photo capture is automated and the potential for fraud is practically eliminated. All while significantly reducing overall cycle-times.

Class reports that appraisers have embraced the technology with open arms, as it standardizes the inspection and provides a higher level of service to their clients. Lenders and secondary market participants have been impressed with the improved quality of appraisal reports and the keen insight into property characteristics that augment collateral risk mitigation.   

“Appraisers and lenders currently use antiquated processes that haven’t been significantly updated in years,” said Tim Staudenmaier, chief digital officer at Class Valuation. “Property Fingerprint streamlines the appraisal workflow while improving quality, consistency, reliability and data.”

Class INtelligence was developed in 2018 and implemented into the Quality Control (QC) process. Class INtelligence deploys advanced algorithms and analytics on system data to assess data accuracy and appraiser competency as well as validate against industry guidelines and regulations.

For the lending community, this means assurance that not only is each order vetted by their QC team, but the data is further analyzed by Class INtelligence to expedite order assignment and ensure each one gets into the correct hands based on appraiser performance, property complexity and geographic criteria.

These advancements firmly place Class Valuation at the forefront of innovation in the mortgage space, but this Detroit MI-based appraisal management company has not forgotten its core values, rooted in providing an exemplary experience for all. “While Class is busy helping to lead our industry into the future, we are laser-focused on exceeding our outstanding track record of best-in-class customer service.” CEO John Fraas said.

Class Valuation is a company to watch in 2020, as they lead the way in modernizing the appraisal industry well into the future. To learn more about partnering with this trailblazing organization, contact info@classvaluation.com.

John Fraas, CEO

As the CEO of Class Valuation, John Fraas is responsible for overseeing the day-to-day operations and aiding in the execution of the company’s strategic plans. Fraas is passionate about helping the company to continue to grow through innovation and exceptional service.

Scot Rose, Chief Innovation Officer

With over 20 years of valuation industry experience, Scot Rose joined Class Valuation in April 2018 as the chief innovation officer. In his role, Rose partners with industry stakeholders and the Class executive team to drive thoughtful change and modernize the appraisal and collateral risk process.  

Tim Staudenmaier, Chief Digital Officer

As chief digital officer, Tim Staudenmaier is responsible for digital strategy supporting products and solutions. Prior to joining Class, he served as Fannie Mae’s Manager of Collateral Strategy & Innovation. In this capacity he helped design and roll out Collateral Underwriter (CU), Fannie Mae Connect Collateral Reporting and the Appraisal Process initiative.

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