CoreLogic Releases Third Quarter 2012 Multifamily Applicant Risk Index Report
Email Dan Smith
November 15, 2012, Irvine, Calif. –
—Third Quarter 2012 Index Up One Point Year Over Year; Report Now Includes Renter Trends—
CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, today announced that CoreLogic SafeRent®, the nation's leading suite of screening and risk management services designed for the multifamily housing industry, released its third quarter 2012 multifamily applicant risk (MAR) index report including new renter trends. The third quarter MAR Index value decreased two points from the second quarter 2012 and increased two points from a year ago, indicating a modest increase in national renter credit quality and applicant pool quality.
Published quarterly, the MAR index provides property owners and managers with a benchmark of market based trends against which to evaluate their applicant credit quality trends. It provides trends of national and regional renter traffic credit quality scores whereby a lower index value indicates an applicant pool with a higher risk of not fulfilling lease obligations.
The full third quarter 2012 Multifamily Applicant Risk (MAR) Index report can be found at http://www.corelogic.com/research/mar-index-q3-2012-report.pdf.
Understanding the Multifamily Applicant Risk Index (MAR Index)
The MAR Index is published quarterly by CoreLogic SafeRent. The Index is based exclusively on applicant traffic credit quality scores from the CoreLogic SafeRent statistical lease screening model (Registry ScorePLUS®). It provides trends of national and regional traffic credit quality scores whereby a lower index value indicates an applicant pool with a higher risk of not fulfilling lease obligations. A MAR Index value of 100 indicates that market conditions are equal to the national mean for the index's base period of 2004. A MAR 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. The MAR Index is derived from the statistical screening model from CoreLogic SafeRent, which 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. A lower score indicates a more risky applicant.
To receive the MAR Index data and renter trends for your Metropolitan Statistical Area or if you have questions, contact CoreLogic SafeRent at firstname.lastname@example.org.
CoreLogic (NYSE: CLGX) is a leading residential property information, analytics and services provider in the United States and Australia. Our combined data from public, contributory and proprietary sources spans over 700 million records across 40 years including detailed property records, consumer credit, tenancy, hazard risk and location information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. We deliver value to our clients through unique data, analytics, and workflow technology, advisory and managed services. Our clients rely on us 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.