Despite the challenges, the company added both clients and staff during COVID-19.
Washington, D.C., – January 22, 2021 – Appraisal Logistics, a leading provider of high quality appraisal management services, technology and compliance solutions for the residential/commercial mortgage industry, announced that the company grew top line revenue by over 50 percent last year, despite the pandemic and its negative impact on the economy, making 2020 the best year for the company from a growth perspective since it’s inception in 2007.
“Our new technology offerings played a significant role in our ability to weather the COVID crisis in 2020 and grow our business,” said Dennis Ashcroft, Executive VP/Sales of Appraisal Logistics. “Our ability to provide an innovative solution that kept appraisers working without putting themselves or borrowers at risk allowed us to assist our lender clients with historic loan volumes. The result was a very good year, for appraisers, lenders and Appraisal Logistics.”
In 2020, Appraisal Logistics released two new technologies for remote, contact-free property valuation that allowed professional appraisers to work with homeowners to return accurate opinions of value.
Property Vision allows the consumer to take interior photographs of their home using any web-enabled device equipped with a camera and share them with the appraiser. There is no app to download and consumers are provided with simple instructions that walk them through the process. The technology automatically collects geocoding information and other metadata to ensure that the photographs are of the subject property.
PropertyVision Live allows appraisers to speak directly to consumers as they take interior photographs of their home using any web-enabled device equipped with a camera, directing them to acquire the images the appraiser needs.
Both products are acceptable to agency investors and meet the GSEs’ guidelines for collateral valuation during the COVID-19 crisis. Their acceptance by the industry played a major role in Appraisal Logistics’ company growth in 2020.
About Appraisal Logistics
Annapolis, Md.-based Appraisal Logistics is a nationwide appraisal management company for the residential and commercial mortgage industry. With a team of industry experts and a nationwide network of highly qualified and trusted appraisers, Appraisal Logistics provides immediate and exceptional services to regional and community banks and standalone mortgage originators to ensure each appraisal is 100 percent compliant in a customized, customer-focused environment. The company also owns and maintains the secure proprietary communications platform – AIM-Port®. For more information, please visit http://www.gotoals.com or call (443) 949-7862.