Valuation technology company Clear Capital has launched AURA, an automated underwriting risk analyzer that enables loan origination and order management platforms to embed advanced appraisal quality analytics fueled by machine learning and photo AI into their ecosystem to streamline collateral underwriting.
Via its API, AURA can connect with technology partners to provide lenders with an aggregated version of all the data necessary to fully analyze the risk of an appraisal and a detailed summary report, in addition to automated underwriting capabilities to ensure compliance with internal credit policies, GSE guidelines, and other investor overlays to close loans faster, Clear Capital says in a release.
AURA also helps prevent costly repurchase requests through inclusion of UCDP findings, as well as other investor-specific rules and checklists, presented to the reviewer during the initial review.
A key differentiator for AURA is ClearPhoto™, a powerful set of AI-driven rules that automates the review of property photos, ensuring they are aligned with the appraisal sketch and data. ClearPhoto significantly reduces time spent identifying any photo-related errors by instantly checking for property photos’ accuracy and quality.
“Through AURA, Clear Capital has created a more streamlined and approachable way to review and apply data to the appraisal and mortgage loan underwriting,” says Duane Andrews, CEO of Clear Capital. “AURA is an automated tool that automatically reviews appraisals and delivers accurate property analysis, speeding the process for lenders and helping homebuyers get into their dream homes faster.”
Photo: Todd Kent