Real Estate Tech Firm Clear Capital, BeSmartee to Bring Home Value Verification Solution to Mortgage Lenders

Clear Capital, a national real estate valuation technology company, announced that it has entered into a strategic partnership with BeSmartee, a digital mortgage solution development company, in order “to offer a cost effective and efficient solution for mortgage and home equity origination property valuations.”

Clear Capital’s ClearAVM, a nationwide automated valuation model (AVM) that provides accurate estimates of market value for millions of properties, has been “integrated with BeSmartee’s Mortgage POS and HELOC product to provide users with value verification during the initial application and/or underwriting process on mortgage and home equity loans.”

This unique combination streamlines closing, “while providing lenders with earlier access to leading property analytics.”

Demand for home equity loans “has risen significantly over the last year as an alternative to cash out refinances and with homeowners looking to take advantage of historic levels of equity in their properties.” HELOCs allow homeowners to “tap into the equity in their homes as a source of cash without the need to refinance.”

By reducing the time it takes to properly evaluate a property’s market value, BeSmartee provides efficient access “to HELOCs giving homeowners credit they need.”

Kenon Chen, EVP of Strategy and Growth at Clear Capital, said:

“Our goal is to streamline different aspects of the valuation process, without introducing additional risk or compromise on accuracy. So our mission is two-fold, to help lenders be more efficient in generating loans while also helping them make more informed decisions powered by our analytics. Our partnership with BeSmartee will allow Clear Capital’s AVM to be utilized in more home equity transactions and provide greater value certainty for lenders and homeowners.”

By implementing ClearAVM on the BeSmartee platform, lenders can “be increasingly efficient with satisfying customer obligations while being even more confident of the data points they rely on.”

This partnership allows lenders “to centralize the valuation process and access accurate value predictions on nearly every residential property in the U.S. with the goal of delivering mortgage and home equity loans faster.”

Tim Nguyen, BeSmartee CEO and co-founder, said:

“Our collaboration with Clear Capital brings us closer to our vision of a seven-day mortgage close. BeSmartee is committed to engaging with innovators who’ll continue to streamline the mortgage process, and help people get into their dream homes or take advantage of the equity in their current homes.”

To learn more about how BeSmartee and Clear Capital are automating the mortgage process, while improving quality for lenders, check here.

As noted in the update, Clear Capital is “a national real estate valuation technology company with a simple purpose: 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 their platform technologies.”

Their 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.”

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