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Clear Capital, a real estate valuation and analytics fintech company, introduced ClearLabs, an in-house innovation lab created to solve challenges in the real estate and mortgage industry.
With ClearLabs, the Clear Capital team is able to research, test and launch new solutions designed to advance the aforementioned industries. Additionally, Jeff Allen, executive vice president of valuation strategy at Clear Capital, will serve as ClearLabs' executive vice president of innovation labs.
"In the past 12 months, Clear Capital has launched a nationwide Modern Appraisal solution that leverages mobile technology and non-appraisers in the property data collection process, as well as OwnerInsight, a free, consumer-friendly mobile tool that enables safe social distancing in the appraisal process by empowering homeowners to provide high-quality information and images of their homes without having an appraiser on-site," according to a press release.
"Everyone wins through innovation — especially consumers," said Allen. "With ClearLabs, our goal is to lean even deeper into innovation in a more accelerated way through focused research, testing and development."
ClearLabs is working towards the goal of same-day property approval on new loans and a seamless process from the initial real estate transaction, all the way through to secondary market decisions, according to the announcement.