CoreLogic® Adds Enhancements to TrueLTV®
Email Dan Smith
September 15, 2011, Santa Ana, Calif. –
—New Insights in REO and Paid-Off Loans Help Modelers Better Understand Impact of Liens—
CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today announced enhancements to TrueLTV, its patented, property record-driven monitoring tool for private label Residential Mortgage-Backed Securities (RMBS). TrueLTV will now provide insight into loss severities and risk exposure of paid-off and REO loans at both the property and portfolio levels.
Previously, TrueLTV included updated valuations on active liens in a security where outstanding mortgage liens were reflected on the property record. The enhanced TrueLTV incorporates updated automated valuation model (AVM) information when there are no outstanding mortgage liens on the property or when the mortgage associated with the security is paid off. The enhanced TrueLTV also allows users to more accurately assess loss severities, develop trending information and better understand the correlation between first and hidden liens on properties associated with paid off loans in securities. With this information modelers can better assess the risks of current holdings and users can incorporate all data they receive through TrueLTV into a standardized, usable format that allows them to run CoreLogic analytics on their own proprietary analytics.
“Investors increasingly look for additional insight into the risks of their portfolios,” said Ben Graboske, senior vice president, Product and Technology, Data and Analytics Group, at CoreLogic. “The latest enhancements to TrueLTV expose how much additional risk is layered on their portfolios by ‘silent’ subsequent liens and housing price declines and the loss severity these factors had on loans that are now REO or exited the security through pay-offs.”
The TrueLTV enhancements are available for loan-level information with history dating back to November 1999. Investors and servicers can now perform modeling, historical trending and time series analysis against the non-agency RMBS data with TrueLTV. With TrueLTV, issuing and investment firms can access and track the most comprehensive repository of mortgage securities. By leveraging this information, users can run regression tests on proprietary models using actual results as a comparison.
CoreLogic non-agency RMBS and TrueLTV are both available on a subscription basis in flat file format and can be downloaded via file transfer protocol (FTP).
CoreLogic (NYSE: CLGX) is a leading provider of consumer, financial and property information, analytics and services to business and government. The company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest and most comprehensive U.S. real estate, mortgage application, fraud, and loan performance databases and is a recognized leading provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. More than one million users rely on CoreLogic to assess risk, support underwriting, investment and marketing decisions, prevent fraud, and improve business performance in their daily operations. The company, headquartered in Santa Ana, Calif., has more than 6,500 employees globally with 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.
CoreLogic is a registered trademark of CoreLogic.