CoreLogic RiskModel Expands Prime Jumbo Model
Email Dan Smith
November 04, 2015, Irvine, Calif., –
—Users Can Now Assess Default and Prepayment Risk of New Prime Jumbo Originations and Post-Crisis Private Label RMBS—
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, announced today the release of an enhancement to CoreLogic RiskModel®, an advanced analytics system that forecasts future residential mortgage prepayments, defaults, losses and cash flows. The latest release includes enhancements that significantly expand the system’s prime jumbo modeling capabilities for recently issued private label residential mortgage backed securities (RMBS), legacy prime pools, and new prime jumbo loans originated under tighter underwriting guidelines.
Now leveraging unemployment as a macroeconomic modeling variable in addition to home prices and interest rates, the new Prime Jumbo model provides a more robust and comprehensive solution for regulatory requirements such as DFAST and CCAR stress testing. In addition, a separate model for interest-only loans and the incorporation of borrower debt-to-income ratio enables users to effectively evaluate the future performance of non-qualified mortgages (non-QM).
“Prime jumbo and super jumbo mortgages have accounted for more than 19.4 percent of all U.S. 2015 originations and continue to be the only asset class with access to liquidity in the private-label secondary market,” said Olumide Soroye, managing director of Information Solutions for CoreLogic. “We have significantly upgraded RiskModel to give originators, banks and investors the insight they need to measure risk and opportunity in their jumbo investments—whether they are in the pipeline, portfolio, or in post-crisis private label securities.”
For more information about RiskModel, visit http://www.corelogic.com/products/riskmodel.aspx.
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled services 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.
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