Move faster. Reduce rework. Close more loans.
How we make each step faster:
Precise property values that align with appraisal. Full loan history, current payment, principal and LTV that generate the optimal product
Accurate appraisal and collateral underwriting that speed up the loan process
Real-time portfolio value and full view of market risks that help optimize opportunities
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Based on our simulation models and continual feedback loops, we are able to generate the most accurate real estate valuation models available online. Today, we are % more accurate than the rest...and improving daily.
MdAPE is short for median absolute prediction error, and is a statistical measure of the valuation model accuracy. The valuation MdAPE is computed as follows:
Step 1: In any given month, HouseCanary produces and stores a set of 100m property valuations nationwide.
Step 2: Over the next month we obtain actual prices of arms length transactions occurring nationwide.
Step 3: We measure the absolute percent deviation of actual sales prices to what we had estimated the property values to be prior to the observed sale.
Step 4: Finally, the MdAPE is computed as the median absolute percent deviation of all transactions observed nationwide.
In summary, A lower MdAPE indicates a more accurate valuation.