ClearAVM is designed to help lenders with tasks including pre-valuation, portfolio valuation, home equity situations and underwriting.

Clear Capital, a provider of technology to mortgage lenders, last week unveiled a new automated valuation model (AVM) that draws upon machine learning to calculate what is says are unusually accurate home value estimates.

ClearAVM is designed to help lenders with tasks including pre-valuation, portfolio valuation, home equity situations and underwriting.

According to Clear Capital, part of the valuation technology’s “lender-grade” accuracy comes from its use of “machine learning.” This tech refers to a self-updating statistical model that finds connections between variables (such as property characteristics) and outcomes (such as transaction prices) to constantly improve predictive algorithms.

“We designed ClearAVM to ‘think’ like a valuation professional, which means on a case-by-case basis the model can automatically look outside of a typical search radius and train itself to consider variables that may add the most value, like a property’s view,” said Clear Capital CEO Duane Andrews in a statement.

“An older approach to building AVMs would have required special consideration and manually-coded rules for tricky scenarios — ClearAVM does the work automatically.”

Clear Capital also provides products including technology-powered appraisal and property report services, the second of which is based on multiple listing service data and assistance from a network of brokers. Its new AVM “rounds out its suite of services,” particularly “when combined with its other analytics solutions and network of appraisers and real estate professionals who offer in-the-field valuation and inspection expertise,” the company said in a press release.

“ClearAVM is benchmarked against refinance appraisals, where the answers aren’t just out there to be found,” Andrews added. “And at only four months old, those third-party tests are showing that ClearAVM is outperforming most other major AVMs — many of which have been around for decades.”

Clear Capital is offering a free trial of ClearAVM to new customers.

Email Teke Wiggin.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
EXTENDED: We're giving you one extra day to scoop your ICNY ticket. Prices go up at midnight. Don't wait.Register now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription