Cape Analytics’ property condition data covers 110 million buildings in the United States and can be used to improve home valuation, underwriting models, and portfolio monitoring.
Today, Cape Analytics, the leader in AI-powered geospatial property intelligence, is announcing its new solution for real estate and mortgage investors, lenders, and other collateral stakeholders. The company has built this new, groundbreaking remote intelligence product based on its market-leading offering for property insurance, where it has become a cornerstone of the underwriting process for over 40 insurers.
Real estate decisions need to be made in real-time and with trading-quality accuracy. Existing approaches such as appraisals and broker price opinions (BPOs) are costly and time-consuming, while automated valuation models (AVMs) miss critical and current property features that impact value. Cape Analytics is closing this information gap by leveraging geospatial imagery and advanced computer vision to provide the industry’s first property condition dataset spanning 110 million unique structures across the United States. Cape Analytics’ property condition data describes the condition of each home’s roof, the presence and quantity of debris in every yard, the extent to which each property is covered by vegetation, and much more. Cape Analytics’ data is proven to predict property risk and loss in the insurance space.
Now, the company has turned its attention to real estate and mortgage, in order to drive the increased accuracy and confidence of collateral valuation. The company’s robust infrastructure — capable of processing millions of homes per day — can provide address-level data instantly and at scale, as well as aggregations up to the census tract or neighborhood level to help zero-in on promising investments and uncover trends. Current clients across the real estate and loan space are finding deep value by generating a more accurate understanding of the investments they own, making more informed trading decisions, and benchmarking address-specific condition information against nearby comparables.
“Real estate and adjoining capital markets are a cornerstone of the real economy. However, every year, real estate and mortgage companies spend trillions of dollars investing in properties using antiquated valuation approaches that either miss key data elements or are subject to human error. At Cape Analytics, we’re using deep learning and geospatial imagery to create more structured, accurate, and timely property intelligence that allows real estate stakeholders to make better decisions regarding their assets and investments,” said Ryan Kottenstette, CEO at Cape Analytics.
“Cape Analytics picks up where standard industry solutions leave off. While drive-by valuations and AVMs are part of a standard suite of valuation tools, Cape’s ability to remotely and instantly gather consistent property characteristics across the country is a unique and powerful solution to a longstanding problem in the mortgage industry,” said Matt Rosen, Senior Managing Director at PRP Advisors.
Cape Analytics’ geospatial property intelligence has applicability across real estate markets:
- Loan Origination, Underwriting, and Investment: Cape property condition attributes inform appraisals, BPOs, and AVMs with unique insights for more accurate and trading quality collateral valuation.
- Real Estate Investment: Cape condition information at the address-level or aggregated by census tract, zip code, or CBSA, improves the valuation and selection of real estate investments, increasing investor upside.
- Property Portfolio Monitoring & Servicing: Integrating data from Cape Analytics — such as real-time yard condition, tree coverage, or the presence of solar panels — provides investors and property managers access to recent condition information critical for mitigating loss, monitoring properties, and managing real estate portfolios and loan investments.
Cape Analytics is laser-focused on building the same rigor into its real estate solutions as it has for its property insurance products. The company is building out a deeply experienced team to support this new market, led by Head of Real Estate Markets, Raj Dosaj, who was previously Managing Director at Unison and Senior Vice President at Black Knight Financial Services. Sean Begley, previously a Senior Managing Director at RiskSpan and VP at Black Knight Financial Services, has also joined the real estate team as Director of Business Development.
About Cape Analytics
Cape Analytics provides instant property intelligence for buildings across the United States. Cape Analytics enables property stakeholders to access valuable property attributes instantly, with the accuracy and detail that typically requires an on-site inspection, but with the speed and coverage of traditional property record data. Founded in 2014, Cape Analytics is backed by leading venture firms and insurers and is composed of computer vision, data science, and property risk experts.
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