CoreLogic Announces Agreement with Intex Solutions and Vichara Technologies
Email Dan Smith
September 16, 2010, San Francisco, Calif. –
CoreLogic Announces Agreement with Intex Solutions and Vichara Technologies to Enhance Cashflow Projections and Price/Yield Analytics for Mortgage-Backed Securities
Agreement Provides Critical Linkage between CoreLogic and Intex Loan-level Datasets
CoreLogic, Inc. (NYSE: CLGX), a leading provider of consumer, financial and property information and business services, today announced an agreement with Intex Solutions, Inc., a global provider of structured finance deal models and cash flow analytical solutions, and Vichara Technologies, Inc., a leading capital markets technology and consulting firm, to provide unsurpassed flexibility in leveraging the CoreLogic LoanPerformance loan-level non agency residential mortgage-backed securities (RMBS) database for use with Intex’s RMBS deal models to enhance the accuracy of cash flow projections and price/yield analytics.
With this agreement, joint subscribers to the LoanPerformance RMBS dataset and Intex’s non-agency deal libraries will now be able to seamlessly match each individual loan in the LoanPerformance dataset to the correct deal name, group name, Intex ground group name, and Intex loan identifier in the Intex dataset. Investors will be able to use this enhancement to leverage the industry’s most comprehensive source of loan-level data within the Intex Subroutines and Intex Wrapper application programming interface (API) producing significantly higher accuracy for trading decision support.
The LoanPerformance securities dataset includes loan and pool-level detail representing more than 96 percent of active non-agency RMBS with history on over 23 million loans in active and liquidated deals dating to 1992. The matching of loan-level data elements between the CoreLogic and Intex datasets utilizes Vichara’s proprietary mapping algorithms.
“It’s a natural extension for CoreLogic, Intex, and Vichara to work together to deliver the best residential mortgage data to the marketplace,” said George Livermore, group executive for data and analytics for CoreLogic. “With this solution, the market can now take full advantage of the very best in data and analytics to make better investment decisions. We intend to continue partnering with Intex and Vichara to bring unique solutions and greater transparency to a market in a time of need,” added Livermore.
“The relationship between Intex and CoreLogic brings additional value to our joint clients by enabling users to construct more robust, loan-level forecasting models., said Jim Wilner, vice president for Intex. These models will be able to harness the additional content of the CoreLogic loan level database with the industry-leading Intex cashflow waterfall models."
“We initially developed the technology to map between the CoreLogic and Intex data sets because many of our clients wanted to drive credit models with the CoreLogic data and pass the results off to Intex’s deal waterfall models for cash flow generation,” said Peter Greenberg, managing director of Vichara Technologies. “Vichara has worked closely with CoreLogic and Intex as strategic partners for several years, and we are excited to be part of creating new synergy for users of the Intex and CoreLogic datasets.”
Vichara is a specialized software technology and consulting company focused on systems for supporting trading of fixed income securities and derivatives. Vichara’s V* (pronounced V-Star) platform focuses on valuation, analysis, and data management for various fixed income securities and derivatives, including RMBS, CDOs, CLOs, and CMBS. Vichara designs, implements, and customizes enterprise systems for securities trading, portfolio management, asset securitization, risk management, e-finance and financial operations. Vichara also helps clients manage and transform their IT and software infrastructure through consolidation, integration, automation and virtualization. Vichara is headquartered in New York and has additional offices in the United States, United Kingdom, and India. To learn more, visit http://www.vichara.com.
Intex Solutions, Inc. is a global provider of structured fixed income deal models and cash flow analytical solutions. Intex models and maintains an industry-leading database of over 22,000 RMBS, ABS, CMBS and CDO deals issued in North America, Europe, Asia, Australia and elsewhere around the globe. Hundreds of leading investment banks, broker dealers, issuers and investors rely on Intex for trading, portfolio management and risk management applications. Intex provides a variety of specialized applications for cash flow stress testing, price/yield generation, collateral performance analysis and deal structuring under user-defined prepayment/default scenarios; these applications include INTEXnet, INTEXdesktop, the INTEX Subroutines and INTEX DealMaker. In addition to these Intex-developed applications, Intex has partnered with many other third-party vendors who have integrated Intex's cash flow functionality into their applications. Intex is headquartered near Boston, and supports its many international clients with staff and representatives in London and Tokyo. To learn more, visit Intex on the web at http://www.intex.com.
CoreLogic (NYSE:CLGX) is a leading global 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 and decision analytics and provide business services that bring dynamic insight and transparency to the markets it serves. CoreLogic has built the largest U.S. real estate, mortgage application, fraud, and loan performance databases and is a leading provider of mortgage and automotive credit reporting, property tax information, 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. Formerly the information solutions group of The First American Corporation, CoreLogic will begin trading under the ticker CLGX on the NYSE on June 2, 2010. The company, headquartered in Santa Ana, Calif., has more than 10,000 employees globally with 2009 revenues of $2 billion. For more information, visit www.corelogic.com.
CoreLogic and LoanPerformance are registered trademarks of CoreLogic.