ClearValue Consulting, one of the mortgage industry’s providers of enterprise-class vendor management technology, recently announced it is verified and in live production to support Freddie Mac's ACE+ PDR (automated collateral evaluation plus property data report) solution. The announcement means ClearValue can now provide appraisal management companies (AMCs) and lenders with a scalable, end-to-end solution supporting implementation of Freddie Mac’s ACE+ PDR solution, according to a release.
At the heart of ClearValue’s data collection technology is the company’s Sluice mobile application, which collects property data while managing orders through the Acuity vendor management system, the company stated.
The Sluice mobile data collection app, which is already processing thousands of property data collections for desktop appraisals, hybrid appraisals and BPO reports every month, can now be used to support the Freddie Mac ACE+ PDR solution, which enables eligible cash-out and certain no cash-out refinance loans to be originated without a traditional appraisal.
“Our partnership with Freddie Mac reflects our commitment to appraisal modernization while enabling our clients to increase productivity and generate more business,” ClearValue Consulting CEO Don Juhl said in the release. “We are thrilled that our Acuity technology will now enable our clients to streamline property data collection while providing a better borrower experience.”
With Freddie Mac’s ACE+ PDR solution, lenders can leverage trained data collectors to physically gather property information on-site using the Freddie Mac PDR dataset. ClearValue Consulting can help lenders and AMCs assess property condition and eligibility by providing clients with access to CONNECT, the company’s extensive network of over 50,000 field data collectors, real estate agents/brokers, and licensed appraisers.
Designed for both origination and servicing processes, Acuity provides lenders and AMCs with technology to streamline everything from full appraisals to hybrid appraisals and BPOs. And unlike other vendors that typically host client data on their own platforms, ClearValue clients can access Acuity in their own data center or cloud provider, enabling them to manage the system themselves.