Real estate valuation technology provider Clear Capital on Thursday launched Universal Data Collection (UDC), a product designed to support appraisal modernization.The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement.UDC will provide fast and accurate collection of data, pursuant to Freddie Mac and Fannie Mae data standards, when lenders receive "loan eligibility for agency loan programs that allow for an inspection-based appraisal waiver," according to the statement
The company said UDC will act as the singular product to satisfy appraisal modernization policy changes in "a fraction" of the cost and "half the time" needed for a traditional appraisal.
The company said UDC will act as the singular product to satisfy appraisal modernization policy changes in "a fraction" of the cost and "half the time" needed for a traditional appraisal.
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