CoreLogic IntelliMods Automates Loan Modification

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March 24, 2011, Santa Ana, Calif. –

––Streamlines HAMP, GSE and Proprietary Loan Modifications––

CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, today introduced IntelliMods™, a flexible web-based application that accelerates loan modifications by automating decisioning and fulfillment for both government and private investor programs.

IntelliMods simplifies the loan modification decisioning process and provides a complete audit trail of all decisions. With HAMP and GSE decisioning cascades and parameters embedded within the system, it automatically runs the necessary calculations to determine borrowers’ loan modification eligibility. Further, the application allows clients to build unlimited sets of investor and servicer-specific cascades. These cascades can be linked to flow from one waterfall to the next until modification terms are met or retention options are exhausted.

IntelliMods enables servicers to eliminate time-consuming manual calculations and allows them to process single loans or batch upload hundreds at a time. Once the user selects the modification profile (term extension, rate or principal reduction), the application runs the loan or loans through the selected cascade, and delivers a decision within seconds. Once approved by the user, IntelliMods instantly generates the appropriate modification package. The packages can be sent to the servicer’s production house for printing, assembly and shipping or to FedEx for printing and overnight delivery to the borrower. The FedEx option includes a pre-paid return envelope and incorporates the outbound and inbound tracking numbers into IntelliMods, allowing servicers to track the package process through recordation.

As a hosted, web-based system, IntelliMods requires minimal IT resource implementation and is continually updated with the latest government program criteria. It also records and maintains full audit trail data, including date, time and name of user connected with each action and decision. Internal quality control and regulatory compliance no longer require complex routines or time-consuming research—everything reviewers need is ready for immediate retrieval.

“Although servicers offered more than 1.7 million HAMP trial modifications in 2010, there are still millions of loans more than 90 days delinquent,” said Scott Brinkley, CoreLogic senior vice president of Outsourcing and Technology Solutions (OTS). “As regulatory pressures and ‘Second Look’ reviews continue to increase, there is still a significant need to speed the loan modification process and an even greater need to provide auditable, defensible decisioning.”

Sapan Bafna, OTS director responsible for IntelliMods at CoreLogic added, “Servicers explained to us they needed better automation and workflow tools to handle demand. IntelliMods provides incredible lift to overburdened loan modification efforts by eliminating manual processes — with the added benefit of integrated document generation, delivery and tracking. IntelliMods can also be combined with other CoreLogic services—such as borrower outreach, data validation and augmentation, and recordation—to round out a servicer’s loan modification solution.”

More information about IntelliMods is available at www.corelogic.com/intellimods or by calling 1.866.963.2996.

About CoreLogic
CoreLogic 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. Formerly, the information solutions group of The First American Corporation, CoreLogic began 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 2010 revenues of $1.6 billion. For more information visit www.corelogic.com.

CoreLogic is a registered trademark of CoreLogic.