Clear Capital has expanded its valuation offerings to lenders by making ClearAVM available through the Ellie Mae Digital Lending Platform, the company announced.

In the wake of the COVID-19 pandemic, the Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) said they would allow the deferral of certain appraisals and evaluations for up to 120 days after the closing of residential or commercial real estate loan transactions through Dec. 31, 2020, the release stated.

“Giving loan originators easy access to ClearAVM demonstrates Clear Capital’s commitment to enabling confident decisions during a challenging time,” Clear Capital co-founder and CEO Duane Andrews said in a release. “ClearAVM is a highly valuable tool that will enable loan originators to receive a highly accurate, estimated value that will give them an additional layer of confidence before the loan closes.”

As one of the industry’s lending-grade AVMs, ClearAVM provides values for more than 124 million properties, which are updated frequently using near-real-time data. The company said ClearAVM’s high accuracy is fueled by machine learning and fresh benchmarks to adjust for current market conditions, the clustering of comparable properties and consideration of often-overlooked characteristics.

“The fact that ClearAVM has recently outperformed long-term incumbents and new entrants in accuracy and hit rate, according to Fitch Ratings, is good news for the industry,” Clear Capital Executive Vice President of Corporate Strategy Kenon Chen said. “A modern AVM backed by strong appraisal fundamentals and data gives the industry better options for navigating today’s rapidly changing environment. Through Encompass, originators will now have access to an essential digital tool with greater transparency, efficiency and speed all while reducing any risks associated with the COVID-19 pandemic.”