CoreLogic Collateral Analytics - Short Review

Purpose and Overview

CoreLogic Collateral Analytics is part of CoreLogic’s Digital Mortgage Solutions, aimed at simplifying the complex and time-consuming mortgage experience. This suite of tools is designed to provide lenders with the critical data and analytics needed to validate property ownership, value, condition, and hazard risks in a single, integrated platform.

Key Features

Data-Enabled Underwriting

CoreLogic’s Complete Collateral, a core component of the Collateral Analytics suite, serves as a single point of access for all crucial property underwriting data. It leverages automation and analytics to focus human resources only on items that require review, automating all other processes.

Automation and Efficiency

The solution automates dozens of manual steps traditionally involved in title and closing processes, such as digitizing and organizing title data from title commitments, tax certificates, and property reports. This automation eliminates the need for manual re-keying of data, reducing errors, costs, and the time to close.

Risk Analysis and Flagging

CoreLogic Collateral Analytics includes robust risk analysis tools that help lenders identify potential issues early in the process. This includes flagging “red flag” title matters, valuation concerns, and real-time natural hazard issues, thereby reducing last-minute surprises and improving overall loan quality.

Property Profiles and Valuation

The platform provides detailed property profiles that simplify complex valuation reviews into more focused tasks. It supports appraisal modernization efforts by offering a full-spectrum valuation solution, including bifurcated valuations and hybrid valuation products. Tools like the TOTAL for Mobile application facilitate on-site property inspections and streamline the appraisal workflow.

Integrated Workflows

CoreLogic Collateral Analytics integrates seamlessly with existing operational platforms, allowing data to be easily exported and used by both data analytics teams and business decision-makers. This connected workflow enhances efficiencies and drives business outcomes faster.

Enhanced Productivity

By automating and streamlining the underwriting process, lenders can significantly increase productivity. Clients have reported that their underwriters can complete three to four loans in a single day, compared to one or two loans previously.

Security and Compliance

The solution also enhances the security of the mortgage process by reducing the risk of wire fraud and ensuring that all title order details are tracked and transmitted securely through a centralized communication platform.

Functionality

Exception-Based Underwriting Workflow

The platform uses intelligent automated workflow rules to structure what has traditionally been an unstructured process, allowing lenders to focus on high-risk properties and fast-track the verification of low-risk ones.

Real-Time Hazard Alerts

CoreLogic Collateral Analytics provides real-time alerts for natural hazards such as floods and wildfires, enabling lenders to assess and manage risk more effectively.

Comprehensive Data Integration

The solution allows users to integrate their own business objectives and data with CoreLogic’s extensive property data assets, providing more granular and accurate insights at the property level.

Customer and Market Insights

In addition to collateral underwriting, the platform offers tools for lead prospecting, market share and competitive analysis, retention modeling, and customer profiling, helping lenders make informed decisions and improve their market position.

In summary, CoreLogic Collateral Analytics is a powerful tool that transforms the mortgage origination process by leveraging automation, advanced analytics, and comprehensive data integration to enhance efficiency, reduce costs, and improve loan quality.