Clear Capital’s New Disaster Property Inspections Provide Clear View of Disaster Affected Collateral
Company recently launched new Post-Disaster Inspection and Disaster Desk Inspection to meet the industry’s changing need for more up-to-date disaster information.
Truckee, Calif. (October 24, 2005) – In light of this year’s continuing hurricane season, Clear Capital, a proven and reliable provider of loan valuation outsourcing, responded to the industry’s need for more up-to-date disaster damage information by launching two new property inspection reports to help their customers gather more specific disaster-related damage information.
By combing the inspections with the company’s enhanced FEMA Alerts, Web Service and Data tools, the new Post-Disaster Inspection and Disaster Desk Inspection help to complete Clear Capital’s disaster damage assessment solution.
For disaster inspections within areas that have received minor to catastrophic damage, but are accessible, the new Post-Disaster Inspection provides a more comprehensive analysis of the specific damage sustained. The report grades the damage as “1 – No Damage”, “2 – Damage Exists” or “3 – Total Loss”. This disaster damage ranking system enables one to quickly make decisions by sorting many inspections into severity classifications.
The Post-Disaster Inspection also groups the damage into more detailed specific categories, such as roof, siding, windows, etc. This information, along with the cost-to-cure and time-to-cure estimates, helps to gauge the general severity of the disaster damage. The report also addresses neighborhood condition and the impact to surrounding homes.
For those areas that became inaccessible Clear Capital developed the Disaster Desk Inspection.
“When properties in Louisiana and Mississippi became inaccessible, our customer’s need for disaster information changed overnight, and we adapted by creating the new Disaster Desk Inspection,” says Duane Andrews, CEO of Clear Capital. “By combining the use of aerial imagery, GIS Mapping and FEMA severity reporting, the Disaster Desk Inspection clearly identifies flood locations and damaged properties in the hardest-hit locations.”
In order to give a clear point of reference, the report not only allows the reader to view the property location and neighborhood immediately after the disaster, it also delivers aerial images before the disaster.
“Clear Capital has gone “above and beyond” to provide this service, and our folks in Customer Service, Risk Management and Collections very much appreciate their immediate response to our needs,” noted Anna Stark, REO Specialist, First Magnus Financial Corporation.
“By utilizing Clear Capital’s enhanced FEMA web service and data tools, Clear Capital customers can determine whether a subject property is located within a FEMA-designated disaster area. A Post-Disaster Inspection can be completed in the field to assess damage on properties that are accessible. If the property is inaccessible, the Disaster Desk Inspection allows the condition of the property to still be known,” explains Duane Andrews, CEO of Clear Capital. “A field inspection is the best-case scenario, but when you can’t get to the property, the Disaster Desk Inspection is the next best alternative.”
About Clear Capital
In addition to disaster inspection services, Clear Capital customers have access to multiple valuation products to meet their tape-to-tie-out (“T2TO”) and servicing needs. Clear Capital boasts 100% completion on BPO and property inspection order fulfillments, unparalleled turn-around time, exceptional customer care and efficient technology.
Whether it’s an order of 10 or 1,000+ reports, Clear Capital’s team and web-based platform helps customers order, manage, track and share their valuation and due diligence reports quickly and efficiently. The company has built its success on accurate, on-time and on-budget valuation services for mortgage originators, secondary market institutions and mortgage services.
The company is headquartered in Truckee, CA. For more information call 866.278.0120 or visit www.clearcapital.com.
Clear Capital is a registered trademark of ClearCapital.com, Inc.