Axios Valuation Solutions, based in Fort Worth, Texas, is increasing its standing in the mortgage banking and capital markets industries with its Desktop Appraisal, released earlier this year.
According to the company, Desktop Appraisal has become an attractive option to Axios' clients because it goes far beyond the traditional drive-by appraisal or automated valuation model (AVM). They have observed that Axios clients are using the product because it meets guidelines set forth by the Uniform Standards of Professional Appraisal Practice (USPAP) and is performed and reviewed by an appraiser.
"This product is transforming the valuation space by delivering a high quality, credible, and compliant product at a time when the industry is searching for alternatives to a full appraisal," said Tony Pistilli, chief appraiser for Axios.
With Desktop Appraisal, a combination of a local market appraiser's expertise and Axios proprietary technology, analytics, and data produces a compliant valuation of the property. A local licensed real estate professional then inspects the property and combines that inspection with the local market appraiser's expert analysis.
"This is exactly how we positioned the company, to integrate data and analytics with the expertise of local experts to provide products and information that are credible and easily validated," said Ralph Sells, president and CEO of Axios. "We are providing reports that provide more than just a value; they provide insights and validity to how that value was derived."