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.

Abstract: A comparable property selection system and method employs dynamic gating in the selection of comparable properties. When the most restrictive comparable selection algorithm fails to identify enough comparable sales to use as inputs to the downstream analytics processes, the system does not simply expand the pool or solely expand the corresponding geographical area. Instead, the system automatically loosens and tightens property search filters iteratively to expand and shrink the size of a local geographic and economic market to locate comparables that have property characteristics that most closely reflect the real estate market considerations a buyer, or an appraiser acting as a buyer, would evaluate in a heterogeneous market.

Abstract: An appraisal error detection method includes accessing a database of appraisal-data-field entries of property appraisals. Because sales transactions are cited repetitively as comparables on multiple appraisals, it is possible to inspect appraisal-data-field entries for consistency. An error detection operation is performed for each of the corresponding appraisal-data-field entries by detecting any discrepancies, both between appraisers, and between different appraisals by the same appraisers, where corresponding appraisal-data-field entries are for a same property characteristic of a same property. Appraisal-data-field entries determined by the error detection operation to be erroneous are flagged, and a discrepancy score may be assigned to flagged erroneous entries that indicates an amount of risk posed by the entry. Appraisals in the database may be assigned a score based upon the sum of their entries' discrepancy scores.

Abstract: A device including a memory with an automated collateral fraud and risk detection application installed thereon, wherein the application determines whether a final appraised value of an appraisal was correctly reconciled from comparable properties listed on the appraisal by extracting reconciliation information from the appraisal, the reconciliation information including adjusted sale prices for each comparable property listed on the appraisal and the final appraised value; applying a rule set to the reconciliation information to generate sub-scores; applying a heuristic to the sub-scores to generate a reconciliation score; and outputting a scorecard for the appraisal based on the reconciliation score.