Clear Capital partnership introduces automated property condition reports

Real estate analytics and valuation firm Clear Capital has formed a partnership with CAPE Analytics, offering a new automated property condition tool for home equity lenders.

The collaboration introduces an Automated Property Condition Report (aPCR) and an inspection cascade designed to speed up loan processing and ensure compliance with investor requirements.

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.

“CAPE Analytics selected Clear Capital for its deep relationships with the lending industry and its ability to deliver comprehensive property condition solutions nationwide,” said Sean Begley, director of business development at CAPE Analytics.

“By integrating Clear Capital’s inspection platform with CAPE’s imagery-derived property intelligence, the collaboration offers an end-to-end solution that lenders, secondary market investors, and ratings agencies can leverage.”

The companies said lenders can also combine the aPCR with Clear Capital’s automated valuation model, ClearAVM, to create a fully automated workflow that meets federal appraisal and evaluation guidelines.