Clear Capital, a national real estate valuation technology company, has introduced two new desktop appraisal solutions – Desktop Appraisal and Desktop Data Collection.
Desktop Appraisal is a GSE-compliant 1004 Desktop/70D residential appraisal that quickly delivers a reliable opinion of value with price certainty, the company says.
Desktop Data Collection is a certified, background-checked property data gathering service designed to capture information, photos, and generate high-fidelity floor plans with interior walls and ANSI-aligned digital gross living area (GLA).
The new solutions further modernize and increase certainty in the appraisal process, the company says in a release.
“The recent additions of desktop appraisals to Fannie Mae and Freddie Mac’s selling guides were an important milestone for our industry, as the desktop option can help deliver more timely appraisals while mitigating appraiser capacity restraints and helping to standardize property data collection,” says Duane Andrews, CEO of Clear Capital. “Through our Desktop Appraisal solution, seasoned appraisers can deliver an opinion of value up to 50 percent faster than a traditional appraisal, meaning mortgage lenders can confidently close loans faster for their customers.”
With the Desktop Appraisal product, a certified data collector completes a Desktop Data Collection report to provide property information and photos that fill the gaps in public sources, enabling the appraiser to complete a desktop appraisal.
The Desktop Data Collection product empowers mortgage lenders to broadly adopt desktop appraisals with the certainty that an appraiser will be provided the necessary property information to complete a desktop appraisal.
Certified data collectors, who are real estate agents or brokers on Clear Capital’s panel, can coordinate with the property contact to complete a streamlined residential property data collection that includes property condition information, photos, and accurate, high-fidelity floor plans with interior walls. The data is reviewed for quality assurance and then supplied to an Appraisal Management Company (AMC) or direct-engagement appraiser panel of the lender’s choosing.
“Our experienced panel provides coverage across 90 percent of the U.S., meaning lenders can broadly adopt Desktop Data Collection and quickly scale nationwide,” says Dan McAlister, director, product management at Clear Capital. “The product can be easily integrated into many leading order management systems, simplifying the order process. Lenders can engage their existing AMC or direct-engagement appraiser panels to reliably complete the desktop appraisal with the necessary property data.”