Freddie Mac selected Clear Capital to power its collateral review of appraisals submitted through the Uniform Collateral Data Portal and to provide the company with in-depth feedback regarding the quality and accuracy of the appraisals.
As a result, Clear Capital will integrate a customized version of its valuation review product, ClearQC, with the UCDP.
“We have been refining ClearQC for our own internal quality assurance for over a decade,” said Kevin Marshall, president of Clear Capital.
Marshall said this internal quality assurance has been a part of Clear Capital’s foundation, and they have seen it perform consistently well on millions of valuations.
"By providing a customizable version of ClearQC in the UCDP, we are working with Freddie Mac to provide a consistent approach to appraisal review and transparency on appraisal requirements,” Marshall said.
ClearQC offers customizable rule sets with detailed narrative and data points on each rule run, giving ClearQC customers the ability to evaluate appraisal data and receive pre-funding feedback.
“The ClearQC rules are meant to both affirm well supported appraisal reports and provide feedback when conclusions may need further support,” Marshall added.
“Freddie Mac and Clear Capital are very aligned when it comes to providing constructive feedback,” he added.
