Thursday, November 2, 2017

HouseCanary and PCV Murcor Announce Agreement to Fast-Track the Future of Appraisals with Agile Appraisal™ Management Platform

HouseCanary, the leading provider of modern valuation and appraisal solutions, announced a partnership with leading appraisal management company PCV Murcor. The partnership will further the expansion of HouseCanary’s Agile AppraisalTM Management Platform, a fast, flexible valuation platform with full USPAP and FIRREA compliance. PCV Murcor will leverage their appraisers and HouseCanary’s software to fulfill Agile AppraisalTM orders, accelerating Agile’s industry-leading appraisal completion time.

Agile Appraisal™ delivers appraisals to users in as little as five business days by combining HouseCanary’s industry-leading data and analytics with the expertise of local appraisers — all at a lower cost than a 2055. Though the platform starts with the industry’s best AVM, Agile Appraisal™ utilizes an exterior inspection and delivers the final report to a licensed local appraiser for final review, elevating human expertise while still employing the latest in valuation technology. The entire process is fast, accurate, and affordable, all while maintaining full compliance.

As part of the partnership, PCV Murcor is putting Agile Appraisal™ in the hands of its premier appraisers, allowing them to continue their unmatched service for their bank and credit union clients by completing a higher volume of appraisals than ever before while still maintaining the accuracy and confidence they expect in their valuations. Agile Appraisal™uses regression-based adjustments for location, time, and property characteristics, all while leveraging accurate AVMs and block-level valuation ranges to conducted automated checks of the final value. With this technology, HouseCanary and PCV Murcor will be able to continue modernizing the appraisal industry and carry it into the 21st century.

“We are thrilled about partnering with PCV Murcor to continue modernizing the appraisal landscape,” said Alex Villacorta, PhD, HouseCanary’s Executive Vice President of Analytics. “With the Agile AppraisalTM platform, appraisers can efficiently spend their time and attention on the key aspects of the valuation, especially when utilizing our integrated tools around comp selection and adjustments. Agile AppraisalTM also provides quality rule checks at time of completion, thereby reducing revisions and saving time for all parties.  Our partnership will bring efficiency and consistency to property valuation clients through this innovative bifurcation process.”

“We are very excited to partner with HouseCanary to provide leading edge valuations to our customers, and software to our appraisers. The industry desperately needs appraisal software and the expertise of a local appraiser to deliver best in class valuations quicker and lower cost to the consumer, “said Cindy Nasser, PCV Murcor’s Senior Vice President of Operations.

About HouseCanary:

Founded in 2014, HouseCanary’s mission is to help people make better real estate decisions. Built on a foundation of great data, powerful models, and predictive analytics, the HouseCanary platform aggregates millions of data elements, including more than four decades of property data and a rapidly expanding arsenal of proprietary calculations and analytics, to accurately define and forecast values and market influences. HouseCanary is financed by notable investors including Hillspire (Alphabet Executive Chairman Eric Schmidt’s family office), PSP Growth/PSP Capital (firm founded by entrepreneur and former Commerce Secretary Penny Pritzker)Alpha Edison, ECA Ventures, Raven Ventures and others top Silicon Valley investors. The company is headquartered in San Francisco.

Please contact us with any questions or comments at or 855.218.9597.

About PCV Murcor:

For over 35 years, PCV Murcor has provided nationwide real estate valuations for the country’s largest lenders, servicers, brokers and insurers. Founded by Keith Murray, MAI — who continues to serve as President and CEO — PCV Murcor is focused on delivering values and price opinions for a broad spectrum of commercial and residential properties. PCV Murcor offers a full suite of real estate valuation products and consulting services. PCV Murcor operates in all 50 states Puerto Rico, and the Virgin Islands.

Please contact us with any questions or comments at or 855.819.2828.

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Wednesday, September 20, 2017

Disaster Area Appraisals and Shortages: Harvey, Irma and Jose… and Maria is on the Way

Disaster area appraisals and appraisers are impacted by shortages.

In the wake of the devastation caused by hurricanes Harvey and Irma, and with Jose winding down and Maria winding up, the demand for property inspections and other appraisal services in FEMA designated disaster areas is on the rise, and so are the fees and turn times for these services.

In such times of tragedy, it is easy to respond emotionally, and accuse appraisers and the appraisal community of being opportunistic in setting prices and delivery dates. But, disaster areas pose objective challenges to appraisers. Damaged, blocked and flooded roadways inhibit an appraiser’s ability to access and inspect the subject property, comparable properties and relevant neighborhoods. Closure of municipal buildings, and power and telecommunications outages, make it difficult to gather critical market data. And, then there are fuel shortages. All of these factors add time and cost to the appraisal process.

The best advice to lenders is to keep open lines of communication with appraisers and appraisal management companies regarding the evolving challenges in these disaster areas, so you can set reasonable expectations for your borrowers and sales teams.

Want more information on the Florida and Texas counties designated by FEMA as disaster areas requiring individual assistance? See the following links:

Need more information on partnering with PCV Murcor to obtain appraisal services in disaster areas? Contact us at (855) 819-2828.

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Tuesday, May 9, 2017

Fannie Mae Gets Proactive with Appraisal Industry

Fannie Mae is engaging appraisers with their new Appraiser Update Newsletter which “is intended to promote more proactive communication with the appraisal industry and ensure alignment between appraisers, appraisal management companies, lenders and Fannie Mae.”

In this first edition you will find information regarding hot topics such as Day 1 Certainty, Collateral Underwriter stats and Selling Guide updates. There are also links to Fannie Mae in the news and other helpful resources for appraisers.

The Collateral Underwriter stats are of particular interest, indicating data discrepancies and adjustments are the most common quality risk flags. It is important to remember though, that risk identified through automated controls does not necessarily mean the appraisal report is in error. While oversights can happen, it is our experience at PCV Murcor that these risk flags often occur due to discrepancies among typically reliable data sources or variations in reasonable adjustment methods. Regardless of the reason for the flag, users of appraisal reports will need to resolve the indicated risk item. In order to avoid questions from clients, PCV Murcor’s Quality Control team suggests appraisers do the following:

  1. Acknowledge and reconcile within the appraisal report any significant discrepancies between your data and other available sources.
  2. Summarize the logic and reasoning for any adjustments applied in the report along with data that demonstrates the adjustments were market derived.

You can get a copy of the Appraisal Update Newsletter here.

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Tuesday, April 18, 2017

PCV Murcor’s Haghighi Recognized by the Association of Corporate Counsel

Dawn Haghighi, General Counsel, PCV Murcor, accepting Association of Corporate Counsel’s Advocacy Award with Laura Dorman, Managing Director and Associate General Counsel at Berkeley Research Group, LLC, creators of the ACC Regulatory Working Group.

The team at PCV Murcor would like to congratulate, Dawn Haghighi, General Counsel, for her thought leadership and dedication to advancing relationships with regulators and in-house counsel.

“Dawn exemplifies the ‘extra mile effort’ we strive to achieve every day for our clients. This ACC Advocacy Award only offers others what we already know about how committed she is to creating a positive impact in the regulatory community,” shared Keith Murray, Founder and CEO of PCV Murcor.

Building upon members’ strong interest in developing relationships with regulators, Dawn Haghighi and Laura Dorman created the ACC Regulatory Working Group, which provides regulators and public officials with an opportunity to update in-house counsel on various regulatory developments in real-time throughout the year. Haghighi and Dorman’s efforts have maximized corporate counsel’s ability to understand and adjust to new regulations, as well as to educate policymakers about the impact of these rules on their businesses.

“To carry out our responsibilities as CLOs who support growth, manage risk, and drive success, understanding the enforcement priorities of regulators and law enforcement is a key tool to successfully addressing the most pressing issues facing our corporations,” said Haghighi. “Laura and I are proud to have created the ACC Regulatory Working Group as a vital resource for members in this current regulatory landscape.”

The ACC Advocacy Award honors an individual, ACC chapter or ACC committee that has demonstrated a commitment to advocating on behalf of the in-house counsel profession. The recipient of this award has engaged in successful advocacy activities over the past year or has a proven track record of advocacy activity over many years. Individuals need not be attorneys or ACC members.

Dorman and Haghighi organized “Meet Your Regulator” meetings across the United States, including San Francisco, Los Angeles, Dallas, New York, Boston, and Phoenix. These in-person meetings allowed in-house lawyers, members of Congress, and senior officials from the Department of Justice, Department of Homeland Security, Consumer Financial Protection Bureau, and US Securities and Exchange Commission, among others, to advance the unique perspectives of in-house counsel and have open dialogue about public policy issues.

“From shaping relationships with regulators to raising our visibility in legislative affairs to educating the broader business community on issues affecting in-house law, we are delighted to see the positive impacts this year’s award recipients have made in advancing the unique perspectives of in-house lawyers across the globe,” said Veta T. Richardson, president and CEO of ACC.


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