EDR, a provider of data, applications and insight for the property due diligence industry, has announced it has contracted with Clear Capital to deliver commercial valuation reports through the EDR Lender Portal. Clear Capital is a provider of residential and commercial real estate valuations, data and analytics, quality assurance services and technology solutions.
Under the contract, EDR will offer Clear Capital’s Commercial Evaluations, fully compliant valuation reports that are available in all 50 states, as well as their Commercial Broker Price Opinions (BPO). Commercial BPOs and Evaluations are used on certain real estate transactions as defined by the Interagency Appraisal Guidelines. Both BPOs and Evaluations are generally less expensive as compared to traditional appraisals and can be completed in less time.
The EDR Lender Portal is a Web-based application that streamlines workflow associated with property due diligence, simplifying critical lending processes such as collateral valuation, environmental investigations, flood investigations, site inspections and other third-party services. In the area of valuation, the EDR Portal provides lenders a platform where they can procure full appraisals, evaluations or BPOs. It allows lenders to easily manage their entire appraisal operations—everything from putting projects to bid, generating engagement letters, and tracking assignment status, to managing appraiser lists, monitoring licenses and E/O insurance, and measuring performance.
“The addition of Clear Capital’s BPO and Evaluation solutions expands EDR’s valuation offerings, providing lenders with options other than a full appraisal for certain collateral. We selected Clear Capital because of their reputation for exhaustive quality control and superior customer service. There’s a direct benefit to cost and turnaround time when you get it right the first time, and Clear Capital gets it right. We know our lenders are in good hands,” said Guy Tassinari, managing director of EDR’s Lender Solutions Group. “In the future, we will continue to deliver new products and services that are core to helping our clients advance their lending operations, remain competitive, and meet compliance obligations.”
