Appraisal technology and its battle with bias

Flushing unconscious bias out of the appraisal industry’s system is a huge task that Class Valuation, an appraisal management company, believes can be accomplished with the help of impartial and rational technology.

“There’s a lot of discussions today regarding appraisal bias,” Cristy Conolly, executive vice president of valuations modernization at Class Valuation, said in an exclusive interview with Mortgage Professional America. “There are things that have come to light that [mean] the industry is banding together to take a step back, look at the appraisal process, and determine how to modernize it in a responsible, meaningful, and equitable way.”

Class Valuation offers an arsenal of appraisal tech tools, such as 3D scans, to provide a consistent, repeatable process that results in source-of-truth property data.