CORELOGIC INTRODUCES SELF-SERVICE ACCESS TO CONDOSAFE

Key Contacts

Investor Contact

Dan Smith
Investor Relations
CoreLogic
(703) 610-5410
Email Dan Smith

Media Contact

Alyson Austin
Corporate Communications
CoreLogic
(949) 214-1414
newsmedia@corelogic.com

August 09, 2017, Irvine, Calif. –

CondoSafe Express Helps Community Lenders Reduce Time to Qualify Condo Projects and Increase Certainty in Underwriting Condo Loans and Generating Loan Estimates

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced the introduction of CondoSafe Express a new online, self-service version of its condominium project review solution, that offers easy registration and transactional credit card payment capability.

Through CondoSafe Express, community lenders will now have instant access to condominium project information such as the CondoSafe Report with Investor Eligibility Alerts and Required Condominium Project Documents, including CC&Rs, Budgets, Master Insurance Information, Litigation and other documentation to assist in qualifying condominium projects and underwriting condo loans. These reports help lenders comply with investor, GSE, FHA and VA guidelines and identify potential project eligibility issues.

CoreLogic introduced an enterprise version of CondoSafe – CondoSafe Professional—in 2015 to help lenders efficiently collect the information they needed to confidently underwrite condo projects. Previously, lenders’ options were limited, and loan processors, loan officers and borrowers, in many instances, were required to interact with the condominium associations directly. This resulted in frequent back-and-forth, delays in responses, and average turn times of up to 14 days. Now, community lenders can also order condominium project reports and documents with a few clicks and a credit card, receiving the benefits of the CondoSafe technology that streamlines the process of obtaining documents and delivers faster turn times, without entering into an ongoing purchase commitment.

Condominium lending has grown significantly throughout the past few years with the construction of more high-density urban/suburban housing. However, until now, many community lenders that might underwrite only a few condo loans per month had no efficient way to deal with the complexity, slow turn times, lack of consistency and non-standardized reporting from condominium associations.

The CondoSafe solution will also help lenders comply with TRID by delivering a firm quoted flat fee pricing structure that can be used for the loan estimate and that will not change in the closing documents.

“Over the past few years, condominium lending has grown significantly. Last year, volumes were up 14 percent over 2015 with smaller lenders, wholesalers and correspondents now accounting for 42 percent of total mortgage volume,” said Jacqueline Doty, executive, product management, Information Solutions at CoreLogic. “The CondoSafe Express self-service platform will greatly benefit community lenders offering them a new delivery model and pricing structure that meets their needs and creates greater efficiencies and certainty in underwriting and TRID disclosures.”

For more information about CondoSafe, visit www.corelogic.com/condosafe.

About CoreLogic

CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.

CORELOGIC, the CoreLogic logo and CondoSafe are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.