Valuation offerings continue to instill lender confidence across the industry
RENO, Nev. — October 21, 2020 — Clear Capital, a real estate valuation and analytics fintech leader, today announced it was recently reaffirmed as a top automated valuation model (AVM) provider based on accuracy by credit rating agency Fitch Ratings. Earlier this year, a Fitch Ratings analysis identified Clear Capital’s AVM to be the most accurate among four other vendors. With additional vendors added in the third quarter of this year, Clear Capital remains in its position of having the highest forecast standard deviation in relation to accuracy.
The rankings from Fitch Ratings provide insight into the growing use and robust accuracy of AVMs in the real estate and mortgage industries, which are heavily relied on to develop well-informed property value estimates. Clear Capital’s ClearAVM™ provides values for more than 124 million properties, which are updated frequently using near-real-time data. Its high accuracy is fueled by machine learning and fresh benchmarks to adjust for current market conditions, the dynamic clustering of comparable properties, and consideration to often-overlooked characteristics.
“We’re committed to building trust and confidence in alternative valuation tools in the secondary market where identifying risk is critical,” said Kenon Chen, Clear Capital’s executive vice president of corporate strategy. “As a team, we are constantly innovating — we never stop identifying how and where technology can complement the skill sets of professionals in the industry. In the case of ClearAVM, we’re proud to add that extra layer of confidence, especially during a time when lenders are experiencing unprecedented workloads.”
In its effort to continue to modernize valuation, Clear Capital recently launched ClearCollateral® Review, a review system that automates collateral underwriting in compliance with internal credit policies and government-sponsored enterprise (GSE) guidelines. The system eliminates manual tasks, freeing up lenders to focus on providing a better borrower experience.
For a link to the Fitch Ratings press release, click here.
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About Clear Capital:
Our story began in the mountain town of Truckee, California nearly 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 650 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
