We’re excited to announce that lenders with PDF-only Uniform Residential Appraisal Report (URAR) volume can now conduct an automated collateral review using AURA, our appraisal underwriting risk analyzer.
Automate collateral underwriting for PDF appraisal volume
AURA is an intelligent automated collateral underwriting review tool that enables customers to close loans faster by applying a risk-based approach to the appraisal review process, leading to fair and accurately valued appraisals. AURA aggregates all the data necessary to fully analyze the risk of an appraisal and provides a detailed summary report back to the lender.
With this update, lenders can submit a standard URAR appraisal in PDF format into AURA which is then converted into a 2.6 MISMO XML to automatically run Clear Capital’s data and review tools, including ClearQC® rules, ClearCollateral® scores, and ranked comparables. Lenders no longer need to conduct manual reviews on their PDF volume — reducing review efforts by 50%.
Comprehensive review to enhance appraisal quality
AURA helps prevent costly repurchase requests by including UCDP findings, investor-specific rules, and ClearPhoto — which helps quickly identify discrepancies within the photos and sketch. Additionally, AURA helps detect bias within the appraisal by running risky terms rules. The appraisal is scanned for problematic language to help detect racial bias and other issues.
Provide a better customer experience
AURA leverages our years of experience and knowledge to understand what matters most for each appraisal review. This enables you to significantly reduce your time per appraisal — improving your turnaround time and delighting your customers.
Want to learn more about AURA?
You can learn about AURA here or send us a note at sales@clearcapital.com. Our team is happy to walk you through AURA or answer questions.
