Introducing Reggora's Industry-First Appraisal Review Warranty
I’m incredibly excited to share this announcement for mortgage lenders today. At Reggora, we've always been focused on streamlining the appraisal process—everything from ordering and appraisal vendor management to communication and workflow optimization. But over the last two years, we’ve been especially focused on one of the most critical areas: underwriting.
We all know how important it is to ensure high-quality appraisals to maintain proper risk management while balancing cost efficiencies. Underwriters are among the most valuable (and expensive) professionals in the mortgage industry, and their time is precious. Meanwhile, lenders face the constant threat of repurchase requests, which can be incredibly costly.
That’s why we built Reggora Appraisal Review; a tool designed to help underwriters do their job faster and more effectively. Our solution extracts data from the appraisal, applies rules for validation, simplifies PDF comparisons, streamlines revisions, and more. By using this tool, we can reduce the time it takes for an underwriter to review a report by nearly half. This reduces operating costs and creates a much faster origination process for everyone involved.
But we saw an opportunity to provide even more value to our customers. Today, I’m excited to announce that Reggora is launching the industry’s first Appraisal Review Warranty.
Here’s how it works: If you're using our best practice rules and the appraisal passes our criteria, we will contractually warrant against future defects and assume the relevant financial penalties. This means that if there’s ever a repurchase request or fee from a loan level price adjustment, due to an issue with an appraisal that passed our review, Reggora will cover the cost.
Eliminate underwriting review on 70% of your appraisals
Our analysis shows that up to 70% of appraisals qualify for this warranty, meaning the majority of your appraisals can be underwritten safely without the need for a human underwriter to review them. This can significantly reduce your operating costs, especially as mortgage volume increases over the next 12-24 months. Lenders won’t need to scramble to hire additional underwriters, and appraisals will be reviewed more quickly—without those frustrating two-day back-and-forths on revisions.
So how are we making this possible? The short answer: AI. Advances in technology, like computer vision and AI model analysis, allow us to check for discrepancies in property photos, identify potential issues like water damage, and much more. Large language models (LLMs) help us better understand the content of appraisal reports and verify the accuracy of the commentary. And by leveraging third-party MLS and public record data, we can analyze comparable properties and subject property information with incredible precision.
As technology continues to improve, it’s becoming easier to identify and underwrite lower-risk appraisals. By integrating all of these advanced tools into our comprehensive platform, we’re proud to offer this warranty on our appraisal review solution. This allows underwriters to focus on the higher-risk, more complex appraisals that truly require their expertise.
We’re putting our money where our mouth is—and we’re confident that this warranty will provide truly meaningful efficiency to lenders big and small.
Get in touch with us
To learn more about the warranty, and see how much of your volume is eligible, contact us. Our team would love to understand your unique operations and see where our technology may be able to help.
