Originally published in the March 31, 2026, issue of AI’s Appraisal Now
Reprinted with permission from AI

The BRAVE (Banking Real Estate Appraisal Valuation Exchange) standard has been released to pair the appraisal PDF with a structured, spreadsheet‑friendly data file. That consistent dataset can become a “source of truth” inside financial institutions, supporting commercial appraisal review, underwriting decisions, and portfolio monitoring throughout the life of the loan.

BRAVE attempts to modernize how appraisal information is delivered and used. In addition to the traditional PDF report, the appraiser provides a standardized data file that captures a defined set of key fields from the appraisal. Because the fields are consistent from report to report, bank teams can validate, ingest, and reuse appraisal data across systems instead of treating the PDF as the only usable record.

Jeff Garvin, MAI, Chief Appraiser of Bank OZK, helped lead efforts to advance the BRAVE standard. In a recent conversation with Appraisal Now, Garvin shared insights on how a consistent appraisal dataset can serve as a source of truth throughout the life of the loan, including for portfolio monitoring inside financial institutions.

This is important well beyond speeding up intake. When appraisal values, assumptions, and core property attributes can be carried forward as structured data, they are easier to track, reconcile, and reference later during servicing, renewals, modifications, and ongoing portfolio monitoring. That continuity helps institutions embed the appraisal’s role in risk management processes and systems, strengthening controls, auditability, and consistency in collateral analytics.

BRAVE is open and designed to be practical. The standard is easy to implement and does not require a “middle entity” to control distribution. Large and small appraisal firms can access a validator tool to check BRAVE files and support interaction with commonly used appraisal software as well as proprietary, in‑house systems, helping firms and banks adopt a consistent exchange format without disrupting existing workflows.