S&P Approves CoreLogic as a Third-Party Due Diligence Provider for RMBS
Email Dan Smith
April 17, 2012, Santa Ana, Calif. –
This release was amended on March 29, 2013.
CoreLogic® (NYSE: CLGX), a leading provider of information, analytics and business services, announced today that Standard & Poor’s (S&P) has approved it as a third-party due diligence provider for residential mortgage-backed securities (RMBS) rated by that agency.
CoreLogic Due Diligence performs a full-range of diligence services for residential mortgages and small balance commercial loans, including non-performing loan reviews, acquisition and securitization reviews, data integrity reviews and quality control. The group is working with a growing number of issuers, originators and investors on pre-securitization and loan quality projects. Mark Hughes, a CoreLogic vice president and 25-year veteran of the mortgage securities industry, heads the due diligence business which operates two underwriting centers in Jacksonville and Sunrise, Fla.
“To attract investors back to private-label mortgage securities, issuers must deliver greater transparency and demonstrate that they have employed the best available tools to identify and reduce risk,” said Hughes. “CoreLogic is already a major provider of the diligence, valuation and fraud detection services that many lenders and investors use. With our S&P approval we will now offer unique data-enhanced diligence/underwriting solutions to value portfolios and help originate securitizable loans. As private-label mortgage securities issuance returns, we will be there to provide the ‘new diligence’ that all market participants will demand.”
“In the post-recession marketplace, due diligence customers will demand better and more insightful data, analytics, and services,” said Ben Graboske, senior vice president, Real Estate and Financial Services. “CoreLogic brings comprehensive assets and capabilities to meet the evolving needs of the capital markets.”
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.
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