Magazine article Mortgage Banking

Clear Capital Unveils New Valuation Tool

Magazine article Mortgage Banking

Clear Capital Unveils New Valuation Tool

Article excerpt

CLEAR CAPITAL (FORMERLY BPO TRACKER), Truckee, California, has launched a new valuation tool. Clear Capital's new proprietary PI + AVM[TM] product applies supportable human adjustments to an automated valuation model (AVM) value conclusion for a more refined and confident value outcome. The Clear Capital PI + AVM provides additional clarity to an AVM report by analyzing property characteristics that often reside below the radar of automation, according to the company.

"Clear Capital's PI + AVM effectively captures the space between AVMs and solely human valuations," said David J. DeMello, chief appraiser and vice president of business development for Clear Capital. "By analyzing and weighting the results of a unique property inspection, we are able to determine whether the property's relative condition and lot characteristics would influence the AVM value in a positive or negative manner."

While an AVM compares a subject's quantitative factors with nearby properties, the PI + AVM provides a property inspector's answers to relevant qualitative assessments. The inspector's answers are analyzed and weighted by both Clear Capital's proprietary systems and quality assurance team. …

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