Walker & Dunlop, Geophy Start New Appraisal Company

• Walker & Dunlop (NYSE:WD) and GeopPhy launch Apprise, a new company that will use machine learning to provide more objective, consistent, and transparent FIRREA-compliant multifamily appraisal in as few as five days, the companies say.
• Current methods of preparing appraisals can take up to three weeks to deliver and may include data inconsistencies and result in highly subjective valuation, according to the two companies.
• Focused on the U.S. market, Apprise currently covers more than 30 states and is targeting nationwide coverage by the summer of 2020.