"The aPCR uses high-resolution geospatial imagery and machine learning from CAPE Analytics to assess property conditions. According to the companies, the product covers 98% of U.S. residential properties and serves as an alternative to traditional inspections. This collaboration with CAPE Analytics is about enabling lenders to close home equity loans in days rather than weeks, said Dan McAlister, vice president of product at Clear Capital."
"In addition, Clear Capital is plugged into the lending technology ecosystem, which allows us to increase accessibility to aPCRs without lenders needing to integrate with additional systems. If an aPCR is not available, Clear Capital's inspection cascade shifts to a property condition inspection. Both services are offered under a single price, which the company said is designed to avoid reissuing borrower disclosures and eliminate borrower-driven inspection delays."
The aPCR uses high-resolution geospatial imagery and machine learning from CAPE Analytics to assess property conditions and covers 98% of U.S. residential properties as an alternative to traditional inspections. The collaboration aims to enable lenders to close home equity loans in days rather than weeks. Clear Capital is integrated into the lending technology ecosystem to increase accessibility to aPCRs without additional lender integrations. If an aPCR is unavailable, an inspection cascade shifts to a property condition inspection. Both services are offered at a single price to avoid reissuing borrower disclosures and eliminate borrower-driven inspection delays. Lenders can combine aPCR with ClearAVM to create a fully automated, federally compliant appraisal workflow.
Read at www.housingwire.com
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