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Use caseUC0033

Catch buried assumptions in a mortgage lender's appraisal reports

Appraisal reports can hide an assumption about a septic system or a foundation mid-paragraph, with no heading. This app reads each report, fills in its key details and sends any report that states an assumption to a review appraiser.

For the appraisal review deskCross-domain · Banking

Why it matters

Today's manual process, and the same job with the app

A collateral review team at a mortgage or consumer lender, checking appraisal reports before a loan decision.

✕Today's manual process

1Read every report end to end, not just the Extraordinary Assumptions heading.
2Copy the details into the loan file: address, appraiser, dates, value and square footage.
3Hunt for assumptions buried mid-paragraph in Scope of Work or Comments, with no heading.
4One missed assumption means a loan decided on an appraisal that should not be relied on.
Every report read in full, manually

✓With the app

1Every report is read in full, every section, not only the headed ones.
2Ten details are filled in, most showing the section of the report they came from.
3Any stated assumption is pulled out word for word, wherever it sits.
4Those reports go to a review appraiser, who still makes the call. Nothing is accepted or rejected automatically.
Flagged reports go straight to review

See it work

One real case, read by the app, step by step

Avery C. Duarte's report on 8810 Willow Creek Rd assumes a workmanlike completion, in a line buried under Scope of Work.

Catch buried assumptions in a mortgage lender's appraisal reportsReference appBuilt to be shaped to your process
  1. 1The report's details address, appraiser, both dates, the approach and the reconciled value from one report.
  2. 2Where each came from the section of the report behind a detail, so it can be checked.
  3. 3An assumption is stated yes, even though the report has no heading for one.
  4. 4The buried line a workmanlike completion is assumed, found under Scope of Work.
  5. 5Sent for review a review appraiser decides; the app never accepts or rejects the value.

For engineers

How it is built, and how we measured it

All fourteen steps of the build are written up, from the business case to running it in your own environment.

Kit overview →
29 of 29reports with an assumption sent for reviewmeasured in 06 Evals →
0 of 26clean reports flagged by mistakemeasured in 06 Evals →
514 of 524details read exactly rightmeasured in 06 Evals →
7.7¢to read all 55 reportsmeasured in 07 Unit cost →

The build, step by step

14 steps

Make it yours

What you see is a reference app. We shape it to how you work.

Every part of it is built to change, and none of it means starting over.

Your rulesWhich assumptions, conditions and wording send a report to your review appraisers.
Your recordsYour own appraisal reports and the details your loan files already track.
Your systemsFinished details go to your loan origination system and your review queue.
Your screensThe fields, names and layout your review desk already uses.

Want this for your team?

Talk to us

We can run this on your own appraisal reports, with your own review rules, inside your environment.

Talk to us →
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