Real Estate Valuation Tech Firm Clear Capital Announces ClearInsight+ to Support Freddie Mac’s ACE+ PDR Solution

Clear Capital, a national real estate valuation technology company, has announced the launch of ClearInsight+, a technology-enabled set of valuation products “to support Freddie Mac’s ACE+ PDR (automated collateral evaluation plus property data report), a new offering for certain loan types.”

Freddie Mac began offering ACE+ PDR in mid-July, “allowing lenders to originate cash-out and certain no cash-out refinance loans without an appraisal.” With ACE+ PDR, property information is physically “collected on-site by trained data collectors using a Freddie Mac PDR dataset in place of an appraisal.”

In cases when a PDR states required C5 or C6 repairs, lenders must “obtain a completion report that verifies the repairs have been made.” In cases when the PDR notes a professional inspection needs to be performed, “a licensed professional in that particular field, such as a plumber or pest inspector, must perform the inspection.”

The lender then must “obtain either a signed report that states the repairs are not required, or a signed report or invoice stating the repairs are completed and the issue has been corrected.” In certain situations, if the review of the PDR reveals certain characteristics or conditions that make the property ineligible for the offering, “the lender may upgrade to a hybrid appraisal (Freddie Mac Form 70H) or traditional appraisal.”

Backed by a vast experience in GSE appraisal modernization, Clear Capital’s ClearInsight+ and Hybrid Appraisal are “designed to address each scenario and support a complete Freddie Mac ACE+ PDR implementation among mortgage lenders nationwide.”

ClearInsight+ includes Property Data Report (PDR) and Completion Report. ClearInsight+ and Hybrid Appraisal are “supported by the award-winning ClearInsight mobile app, CubiCasa automated floor plan technology, the company’s vast network of trained and certified real estate brokers/agents, experienced appraisers, and dedicated quality assurance and customer support teams.”

Duane Andrews, CEO of Clear Capital, said:

“We applaud Freddie Mac for their commitment to appraisal modernization and efforts to drive change in our industry. The ACE+ PDR solution will help streamline processes, increase property data accuracy, and ultimately save lenders and borrowers time and money. We’re pleased to support Freddie Mac to offer lenders a comprehensive set of dependable property valuation products they need to adopt ACE+ PDR, all in one spot.”

Clear Capital’s PDR provides “a verified property dataset that fulfills Freddie Mac’s requirements, with trained real estate brokers/agents utilizing ClearInsight to gather property data, photos, and generate CubiCasa floor plans and gross living area (GLA).”

Once collected, the data is “reviewed for quality assurance and typically provided to the lender in three days, depending on appointment scheduling with the point of contact.”

When the PDR states C5 or C6 repairs are needed, and lenders need to obtain a completion report, ordering Clear Capital’s Completion Report “engages their national real estate broker/agent-based data collection service to verify if property repairs or alterations for ACE+ PDR eligibility are complete.”

When certain property condition factors are identified in the PDR and a lender needs to upgrade to an appraisal, Clear Capital’s Hybrid Appraisal (Freddie Mac Form 70H) “provides a trustworthy opinion of value up to 50% faster than a traditional appraisal.”

Daniel Miller, Single-Family Director of Strategic Technology Partnerships at Freddie Mac, said:

“We are thrilled to announce the addition of Clear Capital to our list of verified software partners supporting our PDR dataset. Clear Capital and their network of trained data collectors and experienced appraisers support bringing our ACE+ PDR solution to market in a meaningful way.”

Clear Capital has “completed more than 235,000 data collections for loans that utilized various GSE modern appraisal programs.”

The company’s panel of more than 3,700 background-checked and trained real estate brokers/agents “enables lenders to provide 97% coverage nationwide with proven performance and quality.”

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