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Walker & Dunlop and GeoPhy Team Up to Launch Appraisal Company, Modernizing the Multifamily Valuation BusinessBETHESDA, Md., Jan. 21, 2020 /PRNewswire/ -- Walker & Dunlop, Inc. and GeoPhy announced today the launch of a new industry-changing appraisal company called Apprise. Current methods for preparing appraisals of multifamily assets have been in place for decades and are highly antiquated. As a result of these outdated processes, appraisal reports can take up to three weeks to deliver, may include data inconsistencies, and result in a highly subjective valuation, which varies dramatically from appraiser to appraiser. By combining Walker & Dunlop's deep industry knowledge, GeoPhy's powerful data science and analytics technology, and the experience of a team of highly respected appraisal professionals, Apprise will eliminate the outdated, manual processes that plague the multifamily valuation industry. The new company will employ machine learning to provide a more objective, consistent, and transparent FIRREA-compliant multifamily appraisal delivered in as little as five days. In the U.S. multifamily sector alone, more than $2.9 trillion of assets depend on valuation expertise for every transaction. Apprise will put information in owners' and operators' hands sooner, empowering them to make more informed decisions on acquisitions, financing, and equity investments, all of which directly impact their businesses. Apprise also benefits real estate investment firms and lenders who can use the shorter underwriting and appraisal processing timelines as a competitive advantage. "We are extremely excited to launch Apprise in partnership with GeoPhy," said Willy Walker, Chairman & CEO of Walker & Dunlop. "We saw an opportunity to revolutionize this crucial part of the multifamily mortgage process to better serve borrowers and lenders alike. Appraisals have often been a pain point in the underwriting process, but we're turning them into a differentiator that will not only save time, but money. We are always looking for ways to better serve our customers, and we believe this technology will be immediately accretive to our clients." "What sets Apprise apart from the competition is that our technology is designed to accelerate 80 percent of the appraisal preparation process," said Teun van den Dries, Founder and CEO, GeoPhy. "This automation eliminates the issue of human error and resolves data discrepancies on behalf of underwriters and borrowers. In addition, GeoPhy's Automated Valuation Model (AVM) complements the traditional valuation methods in Apprise to give appraisers an extra layer of validation against outlier results." "The innovative solutions we've built have allowed us to recruit some of the most respected talent in the appraisal industry, including Meghan Czechowski, MAI, previously the national multifamily practice leader at Cushman & Wakefield, and Amanda Cooper, MAI, formerly Colliers' Florida multifamily practice leader," said Brad Savage, MAI, CCIM, Chief Product Officer, Apprise. "These trusted veterans are attracted to Apprise because they want to bolster their expertise with the industry's best technology and data platform, allowing them to allocate more time to draw conclusions and advise their clients." Focused exclusively on the U.S. market, Apprise currently covers more than 30 states and is targeting nationwide coverage by the summer of 2020. As the nation's multi-trillion-dollar multifamily market continues to reach new heights, Apprise represents a tremendous growth opportunity for an industry-changing multifamily property appraisal solution. For more information on Apprise, visit https://www.apprise.us.
About Walker & Dunlop About GeoPhy View original content to download multimedia:http://www.prnewswire.com/news-releases/walker--dunlop-and-geophy-team-up-to-launch-appraisal-company-modernizing-the-multifamily-valuation-business-300989779.html SOURCE Walker & Dunlop, Inc. |