ClearInsight includes a revolutionary floor plan automation tool to spur industry transformation
RENO, Nev. — April 15, 2021 — Clear Capital, a real estate valuation and analytics fintech leader, today announced its latest product, ClearInsight™, an easy-to-use mobile app that enables real estate professionals, homeowners, and appraisers alike to quickly generate a complete digital picture of a home. This is part of appraisal modernization common in the industry. ClearInsight offers straightforward instructions to ensure all critical on-premise elements of the home — which are needed for the appraiser to complete a valuation report — can be captured, uploaded, and utilized almost immediately.
The first mobile application of its kind, ClearInsight automatically calculates the gross living area (GLA) through an integration with CubiCasa, and generates a high-fidelity floor plan sketch of the home, including interior walls. This tool’s functionality and output empower real estate professionals, appraisers, and other users to efficiently produce a trustworthy property report.
“Automating the creation of a floor plan will unlock massive potential for appraisal modernization,” said Dan McAlister, product director for valuation solutions at Clear Capital. “It will also offer the opportunity to democratize property data collection, create efficiencies across the industry, improve the collateral underwriting process and bring far more consistency to the way traditional GLA is calculated. ClearInsight, powered by CubiCasa’s floor plan-capture technology, will not only benefit our customers, but it will also serve as a sustainable model for other customers — and the industry as a whole — moving forward.”
“Digital GLA and floor plan automation are two of the most promising opportunities for innovation in the market, and we believe this solution will be game-changing for real estate professionals,” said Kenon Chen, executive vice president of corporate strategy for Clear Capital. “These types of advancements in mobile technology align with the industry-wide push toward modern hybrid appraisals.”
Actively used by members of Clear Capital’s broker panel today, ClearInsight will be available to the market later this year. This announcement signals Clear Capital’s ongoing commitment to modernization and comes on the heels of the company’s latest whitepaper, “Why We’re Heading Into a Golden Age for Appraisal Modernization.” The whitepaper was released weeks after the Federal Housing Finance Agency (FHFA) issued a request for input (RFI) on appraisal-related policies, practices and processes.
ClearInsight joins Clear Capital’s growing suite of innovative technology and data-driven products aimed at solving the real estate and mortgage industry’s most pressing challenges. In the past year, Clear Capital expanded its valuation offerings to lenders by making ClearAVM™ available through the ICE Mortgage Technology’s Digital Lending Platform; introduced ClearLabs™, an in-house innovation lab; and rolled out ClearCollateral® Review, a review system that automates collateral underwriting in compliance with internal credit policies and government-sponsored enterprise (GSE) guidelines. Also, in the wake of the global pandemic, Clear Capital launched OwnerInsight™, a tool that enables safe social distancing while empowering homeowners to provide timely, high-quality information and images of the interior and exterior of their homes to lenders, appraisers, and appraisal management companies (AMCs) through a secure interface.
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About Clear Capital:
Our story began in the mountain town of Truckee, California 20 years ago, when we pioneered delightfully simple, web-based valuation technology solutions for an industry relying on paper. Today, we’re grateful to call the nation’s largest banks and financial institutions our customers. We’ve grown to more than 700 team members who share and embody our unwavering commitment to build a better way. As we continue our journey to modernize valuation, we’ll hold on to our promise from day one: to go wherever it leads and do whatever it takes to serve our customers with remarkable technology and uncompromising service.
Media Contact:
Michelle Mead
Caliber Corporate Advisers for Clear Capital
michelle@calibercorporate.com
888-550-6385, ext. 7
