Clear Capital, a national real estate valuation technology company, announced an expanded relationship with CoreLogic, a global property information, analytics and data-enabled solutions provider, “to assist lenders in modern valuation and appraisal readiness.”
Through an existing integration, Clear Capital’s recently launched Universal Data Collection (UDC) product is now “available to be ordered and fulfilled through CoreLogic’s suite of Valuation Workflow Solutions.”
Together, Clear Capital and CoreLogic are supporting industry-wide modern appraisal efforts by providing the ability for lenders to order data collection products in a streamlined way.
CoreLogic’s platforms make workflow and order management easier for lenders, and with UDC, lenders can ensure that both Freddie Mac and Fannie Mae data standards are met.
This provides quick and easy transfer to the agency “with the loan program that best meets the borrower’s needs.”
Kenon Chen, EVP of Strategy and Growth at Clear Capital, said:
“The key to appraisal modernization is wide-spread adoption, and alongside CoreLogic, we are expanding access to modern appraisal tools with the aim of pushing the mortgage industry closer to this new standard. We have been long-time partners with CoreLogic, and we are looking forward to continuing to collaborate as we advance appraisal modernization together.”
Clear Capital’s UDC property data collection solution “provides interchangeability and less complexity in management of loans, as well as ease of adoption by integrating with CoreLogic’s Valuation Workflow Solutions.”
In addition to the flexibility provided, UDC is “available at a fraction of the cost of a traditional appraisal, and completed in half the time.”
Bob Jennings, Executive of Platforms, Collateral, & Risk Solutions at CoreLogic, said:
“At the root of our alliance is simplifying ordering and creating an efficient set-up and implementation process for lenders. Clear Capital and CoreLogic have supported the industry together for some time now, and this expansion of our relationship is a natural next step as the industry embraces a more modern approach to valuations.”
CoreLogic’s Valuation Workflow Solutions reportedly “power over 1,400 of the nation’s mortgage lenders.”
Clear Capital currently “serves more than 70 market leaders through integrations into CoreLogic’s platforms, and have delivered tens of thousands of monthly valuation orders across loan origination and loan servicing clients.”
As noted in the update, 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.”
Their goal is “to provide customers with a complete understanding of every U.S. property through our field valuation services and analytics tools, and improve their workflows with our platform technologies.”