LenderClose Integrates Clear Capital's ClearAVM
Summary
Addition of leading automated valuation model further expands the breadth of digital tools available to community lenders through the LenderClose platform Two top lending technology providers today announced a partnership that further streamlines lender access to all the digital tools it takes to underwrite, approve and service real estate loans. Because traditional appraisals can be one of the largest origination costs for lenders, many community financial institutions turn to AVMs as a cost-saving measure when the situation is appropriate. Integrating ClearAVM access into the LenderClose platform expands the number of tasks loan officers can complete inside a single sign-on interface. That’s because the National Credit Union Administration (NCUA) in August raised the threshold for required appraisals in commercial real estate transactions from $250,000 to $1 million. Powered by its nearly 50 years worth of information on nearly every U.S. metro, neighborhood, and property, Clear Capital’s solutions are trusted by the smallest community credit unions and the nation’s largest financial institutions alike.
Classifications
AskAI Classifications
LabelsLinked Companies
