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HomeVision, a collateral underwriting and appraisal review platform, has partnered with artificial intelligence (AI) firm Restb.ai to integrate computer vision technology into real estate valuation processes.
The collaboration will incorporate Restb.ai’s AI-powered image recognition into HomeVision’s Machine Intelligence Review Assistant (MIRA) platform.
The companies say the technology will improve appraisal accuracy, automate parts of the review process and help lenders, appraisal management companies (AMCs) and individual appraisers identify errors.
HomeVision’s MIRA platform uses machine learning, optical character recognition and natural language processing to detect discrepancies in appraisal reports. The addition of Restb.ai’s computer vision tools will allow the system to compare property images against appraisal data and identify inconsistencies.
“As the industry continues to leverage automation, accuracy, and efficiency in appraisal reviews, our partnership with Restb.ai accelerates our mission to create a comprehensive collateral underwriting platform,” Charlie Horton, general manager of collateral underwriting at HomeVision, said in a statement.
“By integrating Restb.ai’s AI capabilities into MIRA, we are helping lenders and AMCs identify critical defects that result in revisions and costly repurchases.”
The companies say the integration will allow AI to analyze property photos, flag potential issues and streamline the review process. Key features include:
- Discrepancy detection: AI compares property images with appraisal data to verify accuracy.
- Image validation: The system flags non-compliant photos before submission.
- Condition analysis: AI extracts property condition and quality scores to assess potential valuation errors.
- Repurchase risk mitigation: The system identifies safety hazards or other concerns that could affect loan underwriting.
Tony Pistilli, Restb.ai’s general manager of valuation, said AI tools can improve efficiency while reducing manual appraisal work.
“Our collaboration with HomeVision underscores the transformative power of AI in the mortgage industry,” Pistilli said. “By integrating our advanced computer vision and AI solutions, we are streamlining the appraisal processes, enabling appraisers, lenders, and AMCs to operate more efficiently while improving accuracy and ensuring compliance.”
This past November, MLS Property Information Network announced a partnership with Restb.ai to bring advanced AI features to its web-based Pinergy MLS system.
