HouseCanary has made its valuation solutions available on MortgageHippo's digital mortgage platform through an integration between the two companies.
"While proptech might be a new buzzword and one of the largest investment sectors in real estate today, no one should be without high quality data when dealing in such a strong purchase money environment, especially when the market has cooled off a bit," said Joe Dahleen, executive vice president and chief strategy officer at MortgageHippo.
For lenders, the integration will equip loan officers with the capability to provide better quality data about properties to realtors and to borrowers. Loan officers will have access to a more sophisticated, comprehensive collateral data set--including subject property photos and photos of other active listings.
[adbutler zone_id="326314"]
[adbutler zone_id="326316"]
Also, the data can be used to pre-fill fields in the 1003 loan application. Borrowers will benefit from an improved and faster underwriting process, with property valuation taking far less time than is currently the norm.
[caption id="attachment_11254" align="alignleft" width="300"]
'Loan officers are trying to be different and amaze prospects.'[/caption]
This new property technology integration with HouseCanary allows loan officers to pull live data inside of a home value report from within MortgageHippo's Lender Portal. Loan officers will have the option to edit the property data.
Also, loan officers will be able to order HouseCanary's Agile Evaluations from within the MortgageHippo platform. Agile Evaluation is an automated valuation tool that uses an onsite physical inspection designed to meet the Interagency Appraisal and Valuation Guidelines' definition of an evaluation that can replace an appraisal in certain applications.
Agile Evaluation leverages HouseCanary's proprietary computer image recognition and machine learning technologies to derive an automated value based on a property's present physical condition.
"Lenders are seeking fast access to updated property data and loan officers are trying to be different and amaze prospects while building high quality relationships," said Dahleen. “Having the ability to edit the property and condition data to get updated reports and a three-year future value forecast at the moment of truth is invaluable."
