Capabilities enhance data reliability from prequalification through closing, ensuring accuracy in property valuation
Reno, NV – November 14, 2024 – Clear Capital, the national real estate valuation technology company, today announced the launch of its Property Analytics API, providing a streamlined, data-driven solution to support home equity lenders and alternative finance companies. The API empowers lenders with comprehensive property valuations and insights that persist consistently from prequalification through closing, helping to avoid valuation discrepancies that commonly disrupt the loan process.
Property Analytics API allows users to create a customized valuation report by starting with a value from Clear Capital’s industry-leading ClearAVM™ in prequalification and adding comparables or other property data once a file gets to underwriting — up to 90 days later. This solution stands out as the only API enabling a consistent loan experience for lenders.
“For lenders, AVM values used in loan prequalification often change in underwriting, leading to frustration and loan fallout when borrowers face modified terms or opt out altogether,” said Erica Vigen, Senior Product Manager of Real Estate Analytics at Clear Capital. “This is one of the biggest pain points in home equity lending, and Clear Capital’s Property Analytics API addresses this issue by enabling lenders to maintain the same valuation across the entire loan lifecycle. By enabling a seamless and consistent valuation, we’re helping lenders deliver a smoother, more reliable loan experience.”
With Property Analytics API, lenders no longer need to order multiple analytics products to meet Investor Guidelines for underwriting. Lenders can create a single valuation report with the exact property insights and data needed, right-sizing the speed of delivery and the price paid.
Clear Capital’s new Rental AVM is also accessible via Property Analytics API and offers reliable, automated monthly market rent estimates for individual addresses using the same high-quality data and modeling engine as ClearAVM™. An automated evaluation of rent can increase the speed and reliability of decisions for property valuation, and it helps property managers and institutional investors properly price listings and assess future cash flows. Additionally, users can access Interactive ClearAVM™, which allows users to include a property’s condition and characteristics as input to further refine the valuation for enhanced confidence.
In addition to launching Property Analytics API and Rental AVM, Clear Capital has also enhanced its Property Valuation API, a comprehensive solution designed to streamline property valuation by providing easy access to the company’s full suite of valuation tools. Recent updates include the addition of AURA, the company’s appraisal underwriting risk analyzer, which strengthens valuation accuracy by assessing potential risks within appraisals. The Property Valuation API integrates seamlessly with loan origination and order management systems, helping lenders increase efficiency and transparency while simplifying the valuation management process.
This announcement follows the recent launch of the Clear Capital Product Portal, a self-service platform that removes friction from the valuation process by allowing customers to order Clear Capital products quickly and easily, decreasing the time it takes for users to receive a reliable valuation and provide analytics products that aid in the decision-making process.
To learn more about the Property Analytics API, Property Valuation API, and Clear Capital, please visit www.clearcapital.com/. To learn more about the Clear Capital Product Portal, visit portal.clearcapital.com.
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About Clear Capital
Clear Capital is a national real estate valuation technology company with a simple purpose: to build confidence in real estate decisions to strengthen communities and improve lives. Our goal is to provide customers with a complete understanding of nearly every U.S. property through our field valuation services and analytics tools, and improve their workflows with our platform technologies. Our commitment to excellence – wherever it leads, whatever it takes® – is embodied by our team members across our brands (Clear Capital, CubiCasa, and REO Network) and has remained steadfast in this pursuit since our first order in 2001.
Media Contact:
Derrius Rodgers
Caliber Corporate Advisers for Clear Capital
derrius@calibercorporate.com
