Saturday, 18 September 2021 | The Latest Buzz for the Appraisal Industry

PropMix’s Appraisal PDF Digitization using OCR & AI Automates Quality Review

PropMix Appraisal Digitization document intelligence solution automates straight through quality reviews of appraisal PDFs.

NEW YORK, NY / Aug 12, 2021 / – PropMix announced the availability of its appraisal digitization solution integrated with its appraisal quality review engine. Data can now be extracted from a PDF appraisal document and processed through quality review workflows to help with decision making and automated appraisal review processes resulting in reduction of labor intensive manual steps and errors.

Appraisal digitization document intelligence is enabled by PropMix’s proven insights platform including Image Processing, Optical Character Recognition (OCR), and Artificial Intelligence (AI) and can handle parseable PDFs commonly called first generation PDFs in the industry and scanned PDFs that require in-depth technical capabilities to parse and extract structured data. Mortgage lenders or servicers and appraisal management companies (AMCs) that currently review appraisals in PDF formats can now extract the data embedded in the documents into MISMO or any other custom structured formats.

“The accuracy and responsiveness of PropMix’s appraisal digitization solution has helped reduce labor costs and increase the reliability of the appraisal data,” said Rob Walker, Vice President of Sales at Veros Real Estate Solutions.

PropMix has now integrated appraisal digitization with their appraisal quality review solutions to enable PDF documents to be reviewed automatically with little manual intervention. Various Universal Appraisal Dataset (UAD) appraisal forms can be processed for XML transformations, photo attachment validations, quality review rule validations, comparable scoring, and comparable recommendations. “We built Appraisal Digitization for scale with a goal of processing hundreds of thousands of appraisals each day for both digitization and quality reviews,” said Umesh Harigopal, CEO of PropMix.

With Appraisal Digitization, PropMix continues to build out a one-stop platform for AMCs and mortgage lenders. Appraisal digitization workflows are available to try at www.propmix.io/appraisal-digitization.

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, 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. http://www.propmix.io

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