The appraisal space has seen its share of challenges and changes in the past two years. Facing the difficult combination of record-breaking volume and a shortage of appraisers, many mortgage and appraisal professionals have turned to appraisal technology solutions.

HousingWire Editor-in-Chief Sarah Wheeler had the opportunity to catch up with Class Valuation Chief Innovation Officer Scot Rose to discuss how appraisal technology be leveraged to improve both the speed and accuracy of the overall process.

“We’ve been testing and piloting new ways of approaching the appraisal process for the last two to three years,” Rose explained. “And it’s really important to understand how the use of technology is not a benefit, it’s a requirement. When you apply the right technologies to these solutions, we’re seeing a huge improvement in performance metrics…when we get into some of the more outlying markets, we’re seeing a huge decrease in cycle time up to 50%.”