Validate™
Increase pull through and reduce turn times on home equity loans
Validate provides a fast, objective property-valuation tool that helps increase pull through, lower origination costs and accelerate turn times on home equity loans. The solution combines computer-vision technology, a condition-adjusted AVM and up-to-date property data with borrower-supplied photographs to automatically determine a property’s value and the available equity.
Fast, objective, reliable
Provides an app to upload property photos
Using an intuitive app, homeowners upload property photos and verify property data.
Calculates property condition
Validate’s computer-vision capabilities assess the photos sent by the homeowner, then assign a numeric value to the home’s condition using the Uniform Appraisal Data Set’s (UAD) six condition levels.
Determines value range
Based on the condition of the property, Validate uses a condition-adjusted AVM to provide a range of the home’s value.
Runs comps and equity
Using additional tools and public records data from ICE, Validate provides a similarity score compared to other homes in the market, and calculates the property's estimated equity.
Simplifies the property-valuation process for home-equity loans
Once the homeowner accesses the Validate application on their mobile phone via a lender-provided link, several fields for the property’s features are displayed, such as street address, year built, number of bedrooms and bathrooms and so on. Using our comprehensive property records data, Validate automatically completes these fields. The homeowner simply confirms or updates this information.
The Validate app then prompts the homeowner to use their mobile phone’s camera to take several key photos of the property – including interior and exterior shots — and upload them directly in Validate. Homeowners have the option of uploading additional photos of amenities or views that would impact the property’s value. GPS verification and maps show where the photos were taken to confirm their legitimacy, and the photos are also time stamped.
Photos of any damage or necessary repairs, such as foundation cracks, leaky roof, smoke damage or peeling paint are identified and uploaded before the homeowner digitally certifies that the photos are true and unaltered. The lender is also provided various authorizations, including for digital signature and permission for the lender to use the uploaded data/photos.
By combining actual property photos with computer-vision technology, the AVM can more accurately reflect the property’s condition to determine its value, while saving you time and money.
Since Validate increases valuation accuracy, it enables you to focus on loans with a higher probability to close and, as a result, help increase pull-though rates.