HomeVision and Restb.ai Partner to Bring Advanced Computer Vision to Collateral Underwriting

Dallas, TX – March 10, 2024 – RealEstateRama – Home Vision, the industry-leading collateral underwriting and appraisal review platform, and Restb.ai, a trusted innovator in computer vision AI for the mortgage industry, today announced a strategic partnership to advance the real estate valuation workflow. By integrating Restb.ai’s advanced artificial intelligence into HomeVision’s MIRA (Machine Intelligence Review Assistant) platform, this collaboration will enhance appraisal accuracy, streamline valuation workflows, and reduce costly revisions for lenders, AMCs, and appraisers.

HomeVision’s MIRA platform leverages machine learning, optical character recognition (OCR), and natural language processing (NLP) to identify discrepancies in appraisal reports. With Restb.ai’s AI-powered image recognition and property intelligence solutions, MIRA will now provide an enhanced layer of automation, detecting inconsistencies between appraisal data and property imagery, and confirming that the condition and quality of subject properties and comparables align. It also complements MIRA’s native image models to enhance the detection of issues in images to ensure that appraisal reports maintain the highest quality and compliance standards.

With Restb.ai’s visual insights, HomeVision provides an AI-powered collateral underwriting solution to instantly aggregate and analyze all relevant appraisal data, delivering a comprehensive risk assessment and summary report within minutes.

“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 where customers have everything they need in to complete their review,” said Charlie Horton, General Manager, Collateral Underwriting at HomeVision. “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.”

Enhancing appraisal accuracy with AI-powered automation

HomeVision’s integration with Restb.ai introduces advanced capabilities to the appraisal review process by using best-in-class AI to automate the review of property photos and other images. The benefits include:

• Automated discrepancy detection – AI identifies inconsistencies between data and imagery to ensure valuations align with market comparables, reducing manual review time.
• Image validation and compliance – Flags non-compliant images for revision before submission.
• Enhanced property condition analysis – Extracts photo-based condition and quality scores for both the subject and comparable properties to identify potential over/under valuations.
• Repurchase mitigation – Automatically identifies issues in photos, such as health and safety, to help reduce lender loan repurchases.

“Our collaboration with HomeVision underscores the transformative power of AI in the mortgage industry,” said Tony Pistilli, General Manager, Valuation at Restb.ai. “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.”

Driving trust and transparency in mortgage valuations

HomeVision and Restb.ai are award-winning mortgage tech firms and pioneers in mortgage technology. By integrating with Restb.ai’s proprietary AI solutions, HomeVision’s MIRA platform helps advance the modernization of appraisal processes.

“At Restb.ai, we are committed to unlocking the full potential of AI for mortgage valuation,” added Nathan Brannen, Chief Product Officer at Restb.ai. “Our collaboration with HomeVision is another step forward in empowering the industry with real-time, AI-driven insights that improve decision-making and enhance appraisal quality.”

For more information on HomeVision and Restb.ai, visit homevision.co and restb.ai. 

About HomeVision

HomeVision is transforming collateral underwriting by bringing together advanced technology with human expertise in a more accurate, efficient, and transparent review process. Its flagship platform, MIRA (Machine Intelligent Review Assistant), leverages machine intelligence, optical character recognition, and natural language processing to streamline appraisal review–enhancing quality, reducing errors, and ensuring compliance. Top Lenders, Appraisal Management Companies (AMCs), and appraisers trust MIRA to improve quality and productivity while eliminating bias and minimizing costly revisions and investor issues. Based in San Francisco and backed by Initialized Capital and Newark Venture Partners, HomeVision is redefining collateral underwriting for the digital age. Learn more at homevision.co. 

About Restb.ai

Restb.ai, the leader in AI-powered computer vision for real estate, provides image recognition and data enrichment solutions for many of the industry’s top brands and leading innovators in the mortgage industry with AI solutions for valuations and appraisals. Its advanced AI-powered technology automatically analyzes property imagery to unlock visual insights at scale – including property conditions – empowering mortgage, valuation, and appraisal firms with relevant and actionable property intelligence. Its proprietary artificial intelligence technology transforms property imagery into actionable insights, helping clients unlock new value from visual data and providing deep insight into each of the 1 million property photos uploaded daily. 

Media contacts:
Restb.ai
Maya Makarem

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Kevin Hawkins | WAV Group
206-866-1220