Proptech solutions provider Ascent Software Group (ASG) has acquired property data collection platform Value Acceptance.
Through the acquisition, ASG hopes to modernize the appraisal industry by providing innovative valuation products and solutions and complete new property data reports required by government-sponsored enterprises (GSEs).
In March, Fannie Mae included more options for property valuations in its Selling Guide that put data front and center and moved away from the concept that appraisals are a default requirement.
Terms of the ASG-Value Acceptance deal were not disclosed.
ASG’s Jaro platform – a suite of appraisal management solutions and products –provides an end-to-end appraisal solution for Ascent clients. According to ASG, the Jaro platform reduced average turn times by 25% when a client is fully onboarded.
Value Acceptance’s app uses augmented reality and AI to auto-capture and validate property data — providing data on-site. Once captured, accurate digital floor, photos and reports are pushed to cloud review tools leading to a 10 times improvement in turnaround times, according to its website.
“Joining the Ascent team, along with our ability to integrate our industry leading property data collection technology across the Jaro suite, will supercharge our ability to get our innovative solution into the hands of as many property professionals as possible,” said Tom Spencer, co-founder and head of sales and marketing at Value Acceptance.