Quicker appraisal turn times and quality control are the aims
Reggora and Clear Capital have entered a strategic partnership to reduce appraisal turn times and improve quality control for lenders.
The companies have announced that they will integrate Reggora’s appraisal management software with Clear Capital’s ClearCollateral Review (CCR), a platform that allows users to document their review process flow and results. The firms claim this will expedite the appraisal review process while lowering risks.
Additionally, the integration enables lenders, investors, and third-party review firms to “confidently and compliantly satisfy customer obligations while meeting industry and investor guidelines,” the release said. Lenders can also centralize the review process and access more than 500 property data points from 12 sources in one place.
“With ClearCollateral Review, we offer a single source of truth for appraisal reviews,” said Rhonda Johnson, senior partner channel manager at Clear Capital. “Lenders can efficiently manage unpredictable swings in volume and related staffing uncertainty by auto-approving incoming appraisals based on lender-defined logic. Lenders can easily customize rules for incoming appraisals and automatically approve appraisals with zero human interaction, reducing the risk of bias while doing manual reviews on more high-risk or complex reviews.”
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“Our collaboration with Clear Capital furthers our mission to deliver impactful, industry-changing solutions that improve the appraisal process for everyone involved,” said Reggora CEO Brian Zitin. “Reggora is committed to pursuing cutting-edge technology like this to further our goal to make the two-day appraisal turn time a reality.”
