Clear Capital recently announced its partnership with Dark Matter Technologies, a mortgage technology provider.
Through this partnership, mortgage lenders and servicers using the ExchangeSM Service Network, an API marketplace that connects more than 16,000 service providers with the Empower loan origination system (LOS) and other systems, will have access to a broad range of Clear Capital products and services.
This includes ClearAVM, Clear Capital's automated valuation model.
The Exchange Service Network makes it easy for mortgage lenders and servicers to order Clear Capital's products without leaving the Empower LOS or rekeying manual loan data.
In addition to ClearAVM, the Exchange Service Network also supports ordering of Clear Capital's Collateral Desktop Analysis (CDA), Broker Price Opinion, Property Condition Inspection and appraisals.
“Our aim is to streamline the delivery of products so that our clients have what they need, when they need it,” Dark Matter Technologies CEO Rich Gagliano said in the release. “That’s why we created a single marketplace that facilitates connections with tens of thousands of mortgage solution providers, and it’s why we are happy to partner with companies like Clear Capital who make lenders and servicers jobs easier.”
ClearAVM is trusted for its collateral valuation accuracy, which leads the industry with median absolute error of 2.3 percent and is designed for situations that demand highly precise and efficient results, including home equity lending, portfolio valuation, review and underwriting.
CDA provides an appraisal review performed by a state-licensed appraiser. Designed to remove pre-funding uncertainty or support post-funding due diligence, the CDA helps determine if the appraisal under review is adequately supported.
“Our partnership with Dark Matter Technologies is all about helping lenders and servicers make more confident decisions through our robust property data analytics and product suite, which offer them the complete picture,” Kenon Chen, executive vice president of strategy and growth at Clear Capital, said. “We want to ensure lenders and servicers have all the tools they need to execute with precision and accuracy while driving efficiencies. We’re excited to deliver this through the Exchange Service Network from Dark Matter Technologies.”