CoreLogic Releases Q4 2012 Renter Applicant Risk Index Report
CoreLogic SafeRent Communications
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February 20, 2013, Irvine, Calif. –
—Default Risk Among Renters Decreased Year Over Year—
CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its fourth quarter 2012 CoreLogic SafeRent® Renter Applicant Risk (RAR) Index Report, formerly known as the Multifamily Applicant Risk (MAR) Index Report. Published quarterly, the RAR Index Report provides market-based benchmarks for evaluating credit quality and risk of default for renters applying for apartment homes in multifamily housing units. The index also includes data from single-family rentals. Using a mean of 100, an index value above 100 indicates decreased risk, and a value below 100 indicates increased risk.
The full fourth quarter 2012 Renter Applicant Risk (RAR) Index report can be found at http://www.corelogic.com/about-us/researchtrends/renter-applicant-risk-index.aspx.
The SafeRent Renter Applicant Risk (RAR) Index Report is published quarterly by CoreLogic. The RAR Index is calculated exclusively from applicant-traffic credit quality scores from the CoreLogic SafeRent statistical lease screening model, Registry ScorePLUS® and is based on an analysis of 39,000 properties representing nearly 6 million apartment homes and single-family rentals. The index provides a benchmark trend of national and regional traffic credit quality scores. The index value indicates the relative risk of an applicant pool fulfilling lease obligations. A risk index value of 100 indicates that market conditions are equal to the national mean for the
Index’s base period of 2004. A risk index value greater than 100 indicates market conditions with reduced average risk of default relative to the index's base period mean. A value less than 100 indicates market conditions with increased average risk of default relative to the index's base period mean. Registry ScorePLUS is the multifamily industry’s only screening model that is both empirically derived and statistically validated. The statistical screening model was developed from historical resident lease performance data to specifically evaluate the potential risk of a resident’s future lease performance. The model generates scores for each applicant indicating the relative risk of the applicant not fulfilling lease obligations.
To receive local or regional renter applicant risk index data or if you have questions, contact CoreLogic SafeRent at firstname.lastname@example.org.
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company’s combined data from public, contributory, and proprietary sources includes over 3.3 billion records spanning more than 40 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, transportation and government. 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 seven countries. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic logo, SAFERENT and REGISTRY SCOREPLUS are trademarks of CoreLogic, Inc. and/or its subsidiaries.