We’re excited to announce that lenders with PDF-only Uniform Residential Appraisal Report (URAR) volume can now conduct an automated collateral review using ClearCollateral® Review, our automated collateral underwriting platform.
Automate collateral underwriting for PDF appraisal volume
ClearCollateral Review (CCR) is an intelligent automated collateral underwriting review platform that enables lenders to close loans faster by automating their workflow and applying a risk-based approach to the appraisal review process, leading to fair and accurately valued appraisals. CCR aggregates all the data necessary to fully analyze the risk of an appraisal, improving productivity and saving time by eliminating manual work.
With this update, lenders can submit a standard URAR appraisal in PDF format into CCR either through their integrated Order Management System/Loan Origination System, or manually through the CCR platform. The PDF is then converted into a 2.6 MISMO XML to automatically run Clear Capital’s data and review tools, including ClearQC® rules, ClearCollateral® scores, UCDP/EAD results, 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
CCR 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, CCR helps detect bias within the appraisal by running risky terms rules. The appraisal is scanned for problematic language that could be in conflict with fair lending guidelines.
Provide a better underwriting experience
CCR leverages our years of experience and knowledge to understand what matters most for each appraisal review. Automate your workflow with CCR through configurable tiers, scopes, and rule sets that not only ensure that the right underwriter gets the right appraisal, but also customizes the data and tools available depending on certain criteria, such as risk level. This enables you to significantly reduce your review time per appraisal — improving your turnaround time and increasing quality.
Want to learn more about CCR?
You can learn about the CCR here or send us a note at sales@clearcapital.com. Our team is happy to walk you through CCR or answer questions.
