Patent ID: 9031881
Filing Date: 2015-05-12
Classification: G06Q

Abstract:
1. A non-transitory machine-readable medium for validating appraisal input data entered into an appraisal report that includes a valuation appraisal comprising computer-readable instructions that when executed by a processor cause the processor to: receive the appraisal input data for a property, said appraisal input data being provided through an interface by an appraiser and said appraisal input data comprising a selection of one or more comparables associated with said property; receive through the interface property data for the property from a public records database; identify a list of appraisal items that are present in the appraisal input data and that form a basis on which the valuation appraisal is performed; setting a user-established discrepancy threshold; calculate with the processor a difference amount between the appraisal input data and the property data for each appraisal item to validate the appraisal input data with the data for the property from the public records database; determine whether the difference amount exceeds the user-established discrepancy threshold; determine a distance between each of the one or more selected comparables and the property; determine whether the distance between each of the one or more comparables and the property falls within a proper guideline for the one or more comparables to be considered a comparable property; identify one or more other comparables from the public record database that are more comparable to the subject property than the one or more comparables based at least in part on a sale price, a sale date, a gross living area, a year built, a lot size, a number of bedrooms, or a number of bathrooms associated with the one or more other comparables; and generate a discrepancy message that reports a discrepancy when the difference amount exceeds the user-established discrepancy threshold so as to alert of a potential fraudulent appraisal, and that includes the one or more other comparables.