CoreLogic Releases RiskModelDIRECT
Email Dan Smith
July 25, 2012, Santa Ana, Calif. –
—Cloud-Based Service on Windows Azure Delivers Fast, Cost-Effective Non-Agency RMBS Collateral Risk Analytics—
CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, today announced the introduction of RiskModelDIRECT™, a new cost-effective way for both large and smaller banks and investors to access CoreLogic RiskModel advanced prepayment, default, severity and delinquency risk projections for non-agency RMBS. With RiskModelDIRECT, investors can precisely select a set of securities they are interested in on an a la carte basis or subscribe to the entire MBS and ABS market of non-agency securities.
RiskModelDIRECT produces fast, highly sophisticated RMBS portfolio risk projections using CoreLogic data that covers more than 97 percent of the non-agency RMBS market and incorporates the CoreLogic HPI® and HPI Forecasts into its proprietary models. Designed for investors and managers who want the analytics without the overhead, RiskModelDirect delivers collateral reports and scenario-based projections based on 20 macro-economic scenarios and applying the same data and statistical modeling techniques used by large sophisticated investors.
In addition, RiskModelDIRECT integrates CoreLogic HPI data to isolate future default risk by calculating current Zip-code or CBSA-level loan-to-value (LTV) estimates as well as HPI forecasts for more than 200 CBSAs. The RiskModelDIRECT vectors can be used in structured finance analysis tools or be fully integrated with bond valuation solutions from select third party servicers.
RiskModelDIRECT is a subscription based analytics service that eliminates the need and cost of licensing software, dedicated data storage hardware, facilities, secure backup systems, and support staff. RiskModelDIRECT can be a practical tool for banks trying to meet new regulations that require continuous monitoring of securities valuations.
“Many smaller and mid-sized fixed income investment managers can’t justify the investment in licensing and modeling staff,” said Ben Graboske, senior vice president, Real Estate and Financial Services, Data and Analytics Segment of CoreLogic. “RiskModelDIRECT allows them to evaluate existing non-agency holdings or price securities without purchasing and maintaining high-end analytical systems or developing internal proprietary models.”
The system provides an array of vectors per deal and underlying groups that are available via FTP or can be pushed to a client FTP. RiskModelDIRECT reports are produced within 24-hours after remittance, made possible by highly scalable Microsoft® Windows® Azure™ cloud-based deployment of the CoreLogic RiskModel. Windows Azure’s High Performance Computing (HPC) capabilities allow RiskModelDIRECT to vastly expand compute capacity on demand, as needed to post reports for customer download quickly.
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 one of 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 approximately 5,000 employees globally. For more information, visit www.corelogic.com.
CORELOGIC, the stylized CoreLogic logo and HPI are registered trademarks owned by CoreLogic, Inc. and/or its subsidiaries. RISKMODELDIRECT is a common law trademark owned by CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners. All product and company names herein are trademarks of their registered owners. No trademark of CoreLogic shall be used without the express written consent of CoreLogic.