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Clear Capital and EDR Partner To Offer Commercial Evaluations, Broker Price Opinions
March 10, 2015, Shelton, CT —EDR, a national provider of data, applications, and insight for the property due diligence industry, today announced it has contracted with Clear Capital to deliver commercial valuation reports through the EDR Lender Portal. Clear Capital is a nationwide provider of residential and commercial real estate valuations, data and analytics, quality assurance services and technology solutions.
Under the contract, EDR will offer Clear Capital’s Commercial Evaluations, fully compliant valuation reports that are available in all 50 states, as well as their Commercial Broker Price Opinions (BPO). Commercial BPOs and Evaluations are used on certain real estate transactions as defined by the Interagency Appraisal Guidelines. Both BPOs and Evaluations are generally less expensive as compared to traditional appraisals and can be completed in less time.
The EDR Lender Portal is a web-based application that streamlines workflow associated with property due diligence, simplifying critical lending processes such as collateral valuation, environmental investigations, flood investigations, site inspections and other third-party services. In the area of valuation, the EDR Portal provides lenders a platform where they can procure full appraisals, evaluations, or BPOs. It allows lenders to easily manage their entire appraisal operations – everything from putting projects to bid, generating engagement letters, and tracking assignment status, to managing appraiser lists, monitoring licenses and E/O insurance, and measuring performance.
“The addition of Clear Capital’s BPO and Evaluation solutions expands EDR’s valuation offerings, providing lenders with options other than a full appraisal for certain collateral. We selected Clear Capital because of their reputation for exhaustive quality control and superior customer service. There’s a direct benefit to cost and turnaround time when you get it right the first time, and Clear Capital gets it right. We know our lenders are in good hands,” said Guy Tassinari, managing director of EDR’s Lender Solutions Group. “In the future we will continue to deliver new products and services that are core to helping our clients advance their lending operations, remain competitive, and meet compliance obligations.”
“For over a decade, we’ve been delivering accurate and comprehensive commercial valuations to the mortgage finance industry,” said Duane Andrews, CEO of Clear Capital. “With the integration of our real estate valuations solutions with the EDR Lender Portal, EDR’s clients will benefit from Clear Capital’s proprietary data repositories and analytics, valuation review practice and automated review platforms.”
For more information on commercial evaluations, or other services available through the EDR Lender Portal, contact an EDR representative at 800.352.0050 or at edrnet.com. For more information on Clear Capital’s residential and commercial real estate valuations, data and analytics, quality assurance services and technology solutions, please contact a Clear Capital team member at 530.550.2525 or at ClearCapital.com.
EDR provides data and workflow solutions to property due diligence professionals. Since 1990, EDR has been curating America’s most comprehensive repository of environmental and land use information from both public and private sources. This national database contains over 3.1 billion current and historical records —including the complete Sanborn Library archive of land use maps. EDR also conducts market research and shares strategic industry intelligence through a variety of online channels and in-person events. Headquartered in Shelton, CT, EDR has regional offices located throughout the U.S. The company is wholly owned by the Daily Mail and General Trust, plc (DMGT). For more information about EDR, please visit www.edrnet.com.
About Clear Capital
Clear Capital (www.clearcapital.com) is a nationwide provider of residential and commercial real estate valuations, data and analytics, quality assurance services and technology solutions. The Company’s customers include mortgage lenders, servicers, investors, GSEs, and Ratings Agencies. Clear Capital products include appraisals, broker price opinions, property condition inspections, value reconciliations, appraisal review and risk scoring, automated valuation models, and home data indices. The Company’s innovative technology, experienced valuation experts, and a well-trained network of more than 40,000 field experts set a new standard for accurate, up-to-date, and well documented valuation data and assessments. Morningstar Credit Ratings issued Clear Capital its highest Residential Vendor Ranking, MOR RV1. Clear Capital’s home price data can be accessed on the Bloomberg Professional service by typing CLCA <GO>.