APPRAISAL ADJUSTMENTS SCORING SYSTEM AND METHOD
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United States of America Patent
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Issued Date -
Oct 22, 2015
app pub date -
Apr 22, 2014
filing date -
Apr 22, 2014
priority date (Note) -
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Abstract
A system and method for appraisal adjustments scoring rates the quality of adjustments made by appraisers in their appraisals of real property. This is done by accessing a model adjustment database that is based on an automated valuation model and a peer adjustment database that is based on an aggregate of appraiser peers in the same geographic location as the subject property. A comparison is conducted for adjustments made by the appraiser to both model adjustments and peer adjustments to determine discrepancies. When a discrepancy is larger than a threshold, a message or warning may be generated. A sales pool composition database is also accessed to determine a valuation impact of the flagged adjustments given the particular set of comparable sales selected by the appraiser. After data evaluation, a rating score is calculated for the property appraisal based on the number and severity of messages and the valuation impact.
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