Our automated appraisal review platform, ClearCollateral® Review, is now available through the Encompass Partner Connect™ API Platform. Read on to learn more about ClearCollateral Review, and how to easily automate your appraisal review workflow using the Automated Servicing Ordering tool in Encompass® by ICE Mortgage Technology®.
What is ClearCollateral Review?
ClearCollateral Review is an automated appraisal review platform powered by robust data and analytics, and includes risk-based features to improve the review workflow for underwriting teams — speeding up the process by 50% or more. The platform centralizes all the data necessary for underwriters to evaluate if the appraisal is compliant and satisfies investor guidelines. Additionally, it gives your underwriting team a hub where they can utilize risk-based features including auto-approve functionality, configurable rules, auto-assignment for collateral review team management, and Clear Capital’s industry-leading ClearAVM™ to assess valuation risk.
ClearCollateral Review’s valuable review tools include:
- AURA®: A powerful appraisal analyzer that determines valuation accuracy and report quality risk using ClearAVM™, a robust rules engine, PhotoAI, local market insights, and more.
- ClearPhoto®: A set of AI-driven rules that automate the review of property photos and sketches, ensuring alignment with the appraisal data and eliminating manual review.
- ClearProp®: A powerful research and verification tool that unites fragmented data, allowing users to dig into property details, view a robust list of comparables, and access historical records.
- Condition Model: Powered by AI, it quickly assesses the property condition using appraisal photos and property data, comparing it to the appraiser’s C-rating to flag any discrepancies.
Powerful appraisal review features include:
- Rule configurability: Fully customizable rulesets with the ability to configure weights and thresholds, allowing you to tailor rules for any situation.
- Review forms: Fully configurable review forms with the capability to automatically fill out fields based on objective information from the appraisal.
- Automated workflow: A suite of risk-based workflow tools to automatically assign incoming volume to the underwriter best suited for review, tailor the underwriting experience, and auto-approve appraisals.
Automate appraisal review within Encompass to close loans quickly
With ClearCollateral Review now available in Encompass, our automated workflow tools and robust risk analyzer are right at your fingertips. Through Encompass’s Automated Service Ordering (ASO) tool, appraisals automatically flow from the eFolder right into ClearCollateral Review for your underwriting team to immediately review. ClearCollateral Review automatically analyzes the appraisal, determines the assignment and scope of the review, and provides the reviewer with all the tools and data necessary to quickly underwrite the appraisal. Once a review is complete, all review documents are automatically uploaded back into the eFolder, reducing operational tasks so you can close loans quickly.
How to use Automated Servicing Ordering to automate workflow between Encompass and ClearCollateral Review
Encompass’s ASO tool provides automated workflows within Encompass. Users can create rules based on certain criteria within the loan or workflow that can trigger actions such as ordering products. Begin by setting up ASO rules to automate the flow of appraisals and revisions between Encompass to ClearCollateral Review. The set up is simple and only needs to be done once, allowing your review team to immediately begin their work in ClearCollateral Review as loans flow in automatically.
Start using Clear Capital through Encompass
To use ClearCollateral Review or our additional residential valuation products available in Encompass, add Clear Capital as a service provider in Encompass. You can complete this using the Administrator application through the Desktop Version or Web Version of Encompass.
After adding Clear Capital to your Encompass account, users can use the Desktop Version or Web Version of Encompass to place, manage, and view orders.
Need help getting set up? Let us know — we’re here to help!
