Introducing Reggora's Industry-First Appraisal Review Warranty
A First for the Industry
Today, Reggora is proud to announce the industry's first appraisal review warranty: a repurchase and LLPA adjustment warranty that gives lenders unprecedented confidence in their appraisal review process.
Reggora's AI-powered review automatically approves 70% of appraisals, backed by a repurchase warranty.
Considering automation? Six Benefits of Automating Appraisal Review covers the case (reviewer capacity, cost per loan, turn times, consistency, bias screening) and the repurchase warranty most review vendors don't offer.
Why This Matters
The average mortgage loan repurchase costs $32,288. For lenders, the risk of repurchase due to appraisal deficiencies is a constant concern. Until now, no appraisal review provider has been willing to put their money where their mouth is with a warranty.
How It Works
Reggora's Appraisal Review uses a combination of advanced technologies to evaluate every appraisal:
- Computer vision: analyzes property photos for condition and feature verification
- Large language models (LLMs): review narrative content for completeness and accuracy
- MLS data integration: cross-references comparable sales and market data
- Automated rule engine: checks compliance with GSE, FHA, and investor guidelines
The Review Process
- Automated review: AI analyzes the appraisal across 100+ data points
- Auto-approve: ~70% of appraisals pass automated review and are approved instantly
- Expert review: remaining appraisals are routed to human reviewers for manual evaluation
- Warranty applied: approved appraisals receive the repurchase warranty
The Warranty
For appraisals that receive an automated approval through Reggora's Appraisal Review, lenders receive:
- Repurchase protection: coverage against GSE repurchase demands related to appraisal quality
- LLPA adjustment coverage: protection against loan-level pricing adjustment penalties
Want to learn more? Visit the Appraisal Review product page or request a demo.
