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featured innovator

Scot Rose

Class Valuation

Troy, Michigan

Class Valuation – Guild Mortgage – Digital Appraisal

Summary

Class Valuation’s advanced tech creates digital twins of a property. Appraisers don’t visit the property or contact borrower (only review digital data) reducing possibility of misrepresentation or bias toward borrowers.

Description

Our goal is to eliminate all forms of conscious and subconscious bias from the appraisal process. Injecting bias into an opinion of value can falsely drive values both up and down (negative bias can deflate home values, whereas a positive bias can inflate home values). The core idea of the Digital Appraisal is to remove personal preferences from the home value and rely on a standardized, scientific, repeatable process to derive a data-driven value. This means no matter who appraises the home, and no matter what their personal beliefs may be, the same, accurate value is delivered every single time. Increasing representation in the appraisal industry is another important step to reduce appraisal bias. The Digital Appraisal structure has the potential to advance a more diverse generation of appraisers into the appraisal industry.

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