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14 indispensable AI tools for real estate agents

Housing Wire

Artificial intelligence (AI) tools equip real estate agents with unprecedented capabilities. While ChatGPT has become a go-to tool for many of us, predictive analytics tools offer a more efficient, data-driven approach to generating new client leads. When you buy through our links, we may earn a commission. Visit Top Producer 2.

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FinLocker raises $17M in Series B funding round

Housing Wire

Louis-based developer of a leading white-label financial fitness and homeownership platform, announced the closure of a $17 million Series B funding round on Tuesday. The integration between search and valuation technology using computer vision and AI-powered tools will be strengthened by the new funding round, FinLocker executives said.

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Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

Valuation 387
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AI could improve racial equity in homeownership, but there’s work to be done

Housing Wire

While AI is being used in marketing, underwriting, property valuations and fraud detection, AI is only beginning to be incorporated into servicing, according to interview findings. In terms of adopters, government-sponsored enterprises (GSEs), large mortgage lenders and fintech firms have used AI.

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Going to Extremes

Appraisal Buzz

ICON, an Austin based firm, has developed a 3D printed wall system. According to Mehlomakulu, ICON’s homes are 350% stronger and are designed to outlive the traditional spec home by nearly triple their life expectancy. Areas more exposed to such risk are likely to see increased volatility in valuations.”

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Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

The Mortgage Bankers Association (MBA) and the Consumer Bankers Association (CBA) sent a letter to regulators on Monday warning of the “unintended consequences” of new quality control standards for automated valuation models (AVMs). When announcing the proposed rule, Vice President Kamala Harris weighed in.

Valuation 370
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White House marks one year of PAVE appraisal bias action plan

Housing Wire

Thursday, March 23 marks the one-year anniversary since the Interagency Task Force on Property Appraisal and Valuation Equity (PAVE) released its action plan to curb instances of bias in the housing appraisal process. HUD also announced this week that it had awarded $54 million in grants across 42 states designed to curb appraisal bias.

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