Geography-Based Appraiser Selection for Mortgage Scheduling

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Solution Overview

Problem

The geographical spread of properties to be appraised poses logistical challenges in the mortgage industry, leading to delays in completing real estate appraisals, as appraisers need to travel to collect information, resulting in lengthy appraisal processes that can take up to two weeks.

Innovation Solution

An automatic appraisal inspection scheduling system that selects an appraiser based on proximity to the property location, utilizing real-time location data from appraiser devices to quickly assign the closest available appraiser for the appraisal inspection, thereby streamlining the inspection booking process.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If traditional manual appraiser assignment methods are used, then appraisers can be assigned to properties, but the geographical spread of properties causes long travel times and delays completion up to two weeks

Engineering Contradiction:

Improveappraisal completion speedVSAvoidtravel time and appraisal delay

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The system pre-calculates and stores optimal appraiser-property matching based on geographical locations before appraisal requests are made. Appraiser locations, property locations, and travel time estimates are prepared in advance, enabling immediate assignment when a appraisal request comes in, eliminating the need for manual search and coordination during the appraisal process

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The system creates a digital replica of the physical appraisal workflow by using computer-generated location data, virtual appraiser profiles, and automated matching algorithms. This digital copy replaces the manual physical coordination process, allowing rapid virtual assignment based on geographical proximity without actual physical intervention in the matching process

Inventive Principle:

Principle #26Copying

2Reliability

If appraisers travel to geographically dispersed properties, then appraisals can be conducted, but travel costs and time increase significantly

Engineering Contradiction:

Improveappraisal service availabilityVSAvoidtravel costs and appraiser time

Core Design Contradiction:

ReliabilityVSLoss of energy

Solution Approach 1:

The system divides the service area into local zones based on geographical proximity and assigns appraisers within their local zones. Each appraiser is matched with properties in their immediate vicinity, ensuring that appraisals are conducted by locally-based appraisers rather than requiring long-distance travel. This localizes the appraisal service to minimize travel while maintaining comprehensive coverage

Inventive Principle:

Principle #3Local quality

Solution Approach 2:

The system segments the overall appraisal service into geographically-based micro-regions and assigns different appraisers to different segments. By dividing the service area into manageable geographical segments and allocating appraisers to specific segments, the system reduces cross-regional travel and optimizes the distribution of appraisal tasks across multiple local appraisers

Inventive Principle:

Principle #1Segmentation

3Adaptability or versatility

If manual coordination between lenders, AMCs, and appraisers is used, then appraisals can be scheduled, but the process becomes complex and time-consuming

Engineering Contradiction:

Improveflexibility in appraisal schedulingVSAvoidcoordination system complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The system serves multiple functions through a single automated platform: it performs appraiser matching, scheduling, location optimization, and communication coordination. This universal system replaces multiple separate manual coordination processes between lenders, AMCs, and appraisers, consolidating diverse functions into one integrated solution that handles the entire appraisal assignment workflow

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system enables automated self-service appraisal assignment where the computer system automatically matches appraisers with properties based on geographical criteria without requiring manual intervention. The system independently handles the entire assignment process, from receiving appraisal requests to selecting optimal appraisers and notifying them, eliminating the need for complex human-to-human coordination while maintaining scheduling flexibility

Inventive Principle:

Principle #25Self-service

Data Source

PatentUS11631058B2Systems and methods for scheduling appraisals using automatic appraiser selection based on geography

Publication Date: 2023.04.18 APPRAISERS NOW LTD

AI summary

Disclosed are methods, systems and non-transitory computer-readable medium for scheduling real estate appraisals using an automatic appraisal inspection performer selection process based on geography. For instance, a method may include: receiving a location of a real estate property to be appraised and a request to automatically assign an appraisal inspection performer ID for appraisal inspection of the property; selecting an appraisal inspection performer ID based on proximity of the location of the property to a location associated with the appraisal inspection performer ID, the location associated with the appraisal inspection performer ID being a location of an appraisal inspection performer device corresponding to the selected appraisal inspection performer ID or a location of one or more appraisal inspections already assigned to the appraisal inspection performer ID; and transmitting a notification indicating a new order for appraisal inspection of the property, the new order including the location of the property.