SAN JOSE, CA (May 23, 2014) -- Bradford Technologies, the pioneer in computer-aided appraising technology, was recently recognized by Mortgage Technology magazine as one of the mortgage industry’s Top 50 Service Providers for 2014. This is the fourth consecutive year that the company has achieved this respected designation.
Mortgage Technology magazine’s Top 50 Service Providers list, released annually, acknowledges 50 companies for their accomplishments in four criteria: continued advancement of technology and services, viable revenue model and value proposition, exceptional customer service and unique impact on the mortgage industry. Several of the magazine’s editors evaluate the nominees based on these criteria, with strong emphasis on each company’s achievements over the past 12 months.
Bradford Technologies made numerous enhancements over the past year to CompCruncher, its computer aided appraising technology. The company improved its technology by: enhancing the system’s ease-of-use with new color-coding for dashboard information; increasing speed and accuracy in completing an appraisal by the addition of new automation features that expand the technology’s data extraction and auto-population capabilities; and providing more relevant data for appraisers to begin their analyses by refining the system’s regression analysis to automatically eliminate statistical outliers.
“Appraisers have seen a major downward shift in the amount they get paid per appraisal, and it’s presenting a huge challenge for them, not only as individuals, but also as an industry,” said Jeff Bradford, CEO of Bradford Technologies, who credits this shift as a major factor contributing to the declining number of qualified appraisers. “Seemingly minor enhancements like color coding dashboard information or upgrading auto-population can reduce the time needed to complete an appraisal. That means appraisers are able to generate more income in a given period of time. CompCruncher provides a solution to the challenge that appraisers face most often: being able to earn enough income to remain viable.”
During the 12-month evaluation period for the 2014 Top 50 Service Providers list, Bradford Technologies also introduced a new USPAP (Uniform Standard Professional Appraisal Practices)-compliant appraisal product that can be used for home equity and second mortgage lending.
Bradford Technologies is known for pioneering computer aided appraising, the process of utilizing analytical technology to help determine the value of a property. Much like other computer-aided professional practices, such as drafting, manufacturing and engineering, computer aided appraising maximizes the professional’s time and skillset by leveraging automation and business intelligence to fulfill the process of researching and analyzing data. The result is significantly deeper analysis and much greater accuracy than can be accomplished with manual processes. With computer aided appraising, rather than relying on comparable sales from three to five properties, appraisers can use CompCruncher to analyze data from hundreds of neighboring properties to validate their opinions and improve the accuracy of their evaluation.
“Our customers and partners continually tell us what a great service our technologies provide to them,” said Bradford. “We’re so honored that Mortgage Technology magazine has recognized our contributions again this year.”
About Bradford Technologies, Inc.
For over 25 years, Bradford Technologies has been dedicated to producing innovative solutions for Valuation Professionals. Ranging from the most intuitive appraisal applications available to cutting-edge Computer-Aided Appraisal Software, Bradford continues to develop trailblazing products that set the benchmark for the industry. For more information on Bradford Technologies, call 800-622-8727 or visit www.BradfordSoftware.com or www.AppraisalWorld.com.
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Jeri Yoshida
Strategic Vantage Marketing & Public Relations
JeriYoshida@StrategicVantage.com
(310) 396-8813