With a foundation built on 43 years of experience, PCV Murcor brings a deep understanding of our clients’ goals that complement appraisal modernization. Our use of state-of-theart AI technology ensures precision and efficiency in every aspect of our service.
“As we navigate the ever-evolving landscape of real estate, it’s imperative that we embrace change and modernize our products. By leveraging technology and innovative strategies, we can streamline operations, enhance efficiency, and stay ahead of the curve,” PCV Murcor’s Founder, President & CEO Keith Murray said.
PCV Murcor helps lenders make their borrowers’ real estate needs happen. Licensed in all 50 states, plus D.C., PCV provides nationwide coverage for traditional appraisals, alternative products, and a full suite of commercial and multifamily products.
Future-Ready Solutions for Today’s Appraisal Management
AI’s ability to enhance efficiency, accuracy, and flexibility is reshaping the way properties are evaluated with distinct advantages. By automating data extraction, improving document management, and accelerating the appraisal process, results are being delivered at the forefront of innovation and excellence.
How PCV is using AI to improve our clients’ businesses:
- Fewer revisions are needed, reducing back-and-forth time
- Higher quality, lower risk, faster turn times
- Report consistency and alignment with customized rules
- Deeper understanding of external factors
- Identifies suggestive language and labels potential imagery issues
“I see AI as the engine driving modernization in our appraisal products. Its evolution is not just a technological advancement; it’s a transformative force reshaping how we perceive, evaluate, and improve our operations. AI enables us to move beyond traditional methodologies, unlocking efficiencies, accuracy, and agility previously unimaginable,” said David Schiffmayer, SVP of Operations.
What Is at the Core of This AI Renaissance in Modernizing the
Appraisal World?
Computer Vision: Uses machine learning to extract meaningful data from images, videos, and other visual inputs. Through image classification, object detection and tracking, and content-based image retrieval to identify property conditions (and damage), find inaccurate descriptions such as room counts, and generate labeled recommendations or actions needed.
Optical Character Recognition: OCR has revolutionized the way property appraisals are conducted, offering customizable solutions tailored to specific requirements. This type of AI converts an image of text into a machine-readable text format. The two main types of OCR algorithms used for text recognition are pattern matching and feature extraction, making way for better document flow and accelerating turnaround time.
Digital Scanning: Compared to full appraisals, inspection-based waivers provide significant time and cost-saving advantages by harnessing the power of digital scanning. This form of AI uses a 3D tour of interior and exterior, an ANSI floor plan with GLA, and data reports for both GSEs’ solutions to confirm the validity of a property’s value/sale price.
AI Is More Than a Technological Upgrade—It’s a Strategic
Investment
Over our long history, we have honed our processes to provide reliable and unparalleled appraisal management services, setting the standard for excellence in the industry.
It would be easy to rest on our laurels and four decades of experience, but we owe it to our clients’ and their customers (the borrowers) to do all that we can to make the process as smooth as possible,” Murray shared.
AI technologies enhance risk management and compliance efforts by continuously monitoring data and identifying potential issues or anomalies. By providing early warnings and actionable insights, AI systems enable our teams to proactively mitigate risks and ensure compliance with regulations and industry standards.
Our Focus Remains on Being a Reliable Partner for Accountability, Connectivity, and Performance
Beyond all of the technology and advancements, it still boils down to the same principle that we’ve followed for all of these years—to keep in mind that, at the end of the transaction, there is a father, a mother, a family, who are making one of the biggest, if not the biggest, financial commitments in their lifetimes by purchasing a home,” Murray said. “If we deliver service that is timely, professional, and high quality, it eases the transaction for all parties.”
