""Bradford Technologies Inc."":http://www.bradfordsoftware.com/, a San Jose-based developer of interactive valuation analytics for appraisers, announced the launch of CompCruncher 3.
[IMAGE]The launch marks the third generation of the technology ""that introduced statistical analysis into collateral valuations with the highly acclaimed valuation product, CVR (Collateral Valuation Report),"" Bradford said in a release.
CompCruncher 3 is the industry's first computer-aided appraising technologies. It introduces several new innovations, including seamlessly incorporating statistical support into traditional appraisal products and auto-generating appraisal reports with a single click.
The upgraded tech also introduces a new ""S"" designation for appraisal reports such as the 1004S and 2055S. The ""S"" designation signifies that the appraisal has a statistically support value derived by analyzing hundreds of properties, making it easier for appraisers to differentiate CompCruncher 3 appraisals from more traditional reports.
""CompCruncher 3 adds the statistical analysis that increases an appraisal's accuracy while dramatically reducing the time it takes to complete the assignment,"" said Bradford CEO Jeff Bradford. ""For lenders, that means lower risks with a more reliable appraisal. For appraisers and AMCs, it means delivering a superior product in less time.""
With the original CompCruncher, appraisers were required to complete training in applied regression analysis to create the CVR. With CompCruncher 3's new functionality, that training is no longer required, as users are intuitively guided through the valuation process in a structured, methodical workflow.
""CompCruncher 3 is empowering appraisers with the tools they need to overcome some of the biggest challenges they've seen since the mortgage crisis, including staying compliant and increasing their earnings,"" Bradford said. ""This is a big milestone for appraisers. We're happy to be launching the industry's first computer-aided appraising technology.""