Default Servicing Solutions

Collections and retention to disposition and claims

We provide data, analytics, technology and outsourcing services to help you manage any default volume.

To help you meet the unprecedented volume, regulatory, and risk-related challenges, we offer intelligent technology, data and analytics, and outsourcing services that help you make smart decisions quickly, streamline processes, and operate effectively—with the transparency demanded today.

Our analytic-enriched technology combines intelligent workflow and automated decisioning with a flexible, scalable, Web-based framework to drive efficiency and reduce costs. Best of all, working with us gives you access to the tools and resources you need across the default-servicing continuum.

Collections– While we’re not a collections agency, we deliver the borrower, property and market information you need to optimize collections. And even before borrowers miss their first payments, we can help you uncover risk embedded within your portfolio.

Retention– With the unrelenting pressure to modify loans, our analytics and automated tools help you make the right decision—fast—and complete approved loan modifications at lightning-quick speeds.

Disposition– When retention proves unworkable, we simplify the disposition process. Our full-service options expedite divestment by putting you in control of deed-in-lieu, short-sale, foreclosure, and REO-sales processes.

Claims– Our more than 18 years’ experience and automated claims-processing system remove the stress and protect against errors, while expediting and maximizing your recovery.

With solutions available before delinquency through post claims filing, we cover every point along the road from default to resolution.

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Optimize collections with information and insight

Customers look to us to give them transparency into their portfolios and to deliver insightful borrower and property information their collections teams use to make each call effective.

Portfolio Analysis

Before the first missed payment, we help you detect potential problem loans. Our comprehensive range of analytic tools and advisory services help you locate default risk hidden within your portfolio. Analytic tools especially popular with servicers include:

TrueLTV reveals and evaluates hidden liens, enabling you to understand the complete impact of HELOCs and other mortgage liens, including hidden silents, piggybacks and borrower-initiated liens, then digs deeper to assess likely loan performance.

RiskModel is a state-of-the-art analytic tool that projects the distribution of potential outcomes given specified input parameters, including the ability to measure multiple factors simultaneously—for example, prepayment and default risk.

TrueStandings^® Servicing revolutionizes risk management by enabling you to evaluate portfolios, benchmark against the market and specific lenders, and analyze risk online in less time—and with greater accuracy—than ever before.

Borrower Information

Rather than compete with internal and third-party default management services, we provide collections experts with information to increase the understanding of each borrower to improve their success.

Collectibility Models employ Teletrack^® data, giving you critical insight to help you make better decisions. Teletrack is the nation’s premier nontraditional consumer credit bureau. Our data contains charge-offs and paid charge-offs, consumers with multiple subprime inquiries, bankruptcy and landlord/tenant court records, as well as other fraud indicators gathered from businesses that do not report to traditional credit bureaus.

Account Monitoring works like an early warning system by putting an electronic tag on your customers at the bureau level. This tag lets you know when the customer's credit file is updated with a "trigger" event, such as a new credit inquiry or bankruptcy filing.

Property and Market Information

GeoAVM Distressed offers a quick, low-cost, automated valuation that delivers current or retrospective valuations with information-rich property reports. Ideal for early, repeat and volume valuations, dramatically reducing distressed asset valuation time and expense.

HomeStandings™ combines property, neighborhood and market characteristics to provide a real-world understanding of a home's value, marketability and rent potential.  

Reduce complexity to help keep more borrowers in their homes

High default volumes, regulatory scrutiny and media attention have turned the spotlight on loan modifications. Though the problems loom large, the solutions may be simpler than you may think. At CoreLogic^®, we offer a range of automated tools that help you gather the information you need and make good decisions quickly. Our loan modification products help you manage Home Affordability Modification Program (HAMP) and proprietary loan modifications.

Automated Tools

Intellimods, our loan modification application, streamlines loan modification decisions and document generation. With Intellimods, it takes just minutes to upload, qualify, process, and dispatch loan documents to borrowers, whether you’re processing a single loan or complete portfolio. Quick to deploy and completely automated based on programmable parameters set by the servicer, Intellimods is easily configurable to match your business needs. 

Outsourcing

Rapid Deployment Teams offers a unique outsourcing solution, providing skilled personnel and teams that deploy in days—not months. Made up of veteran loss-mitigation and retrained origination professionals available to augment all default processes, our Rapid Deployment Teams serve as a strike force you can send into areas of critical need and quickly redeploy as operational needs change.

Rapid Deployment Teams allow you to:

• Quickly deploy veteran employees into your production environment to increase staffing in specific areas or on key processes
• Design ideal teams to fill in strategic and tactical gaps
• Eliminate hiring challenges and onsite space requirements
• Scale or shift staffing resources to meet evolving demands
• Deploy trained staff without increasing your payroll
• Monitor production using your internal systems
• Ramp up quickly
• Shift resources strategically

Though strategically placed within your process flow, our teams work remotely from our CoreLogic facilities, accessing your files via secure VPN/Citrix access. We carefully screen and hire skilled employees who undergo your training, work on your system, and follow your processes, procedures and reporting protocols. You gain the workforce boost needed through a solution that aligns with your operation and addresses your security and control concerns.

Quality Control

With scrutiny from many quarters, employing an objective third party to validate your actions is a smart choice. At CoreLogic, we provide objective, independent third-party quality control audits for all types of loan modifications. Available audits include:

Detailed Audits – Our most comprehensive solution, these detailed audits verify the reasons for approval or denial by looking at all elements that determine whether a borrower and property qualify for a loan modification.

Fact-Check Denial Review – During this quick-check review, we look at the stated reason for the denial and review documentation supporting the finding.

In-Trial Review – We help you detect when modifications currently in-trial are likely to redefault and increase your loss severity. In addition, in-trial reviews provide a cost-effective way to ensure loan packages have been completed correctly or highlight outstanding issues still awaiting completion.

Custom Audits – Issues sometimes arise that require a review of earlier loan modification files. When you have a concern with a practice, time period or employee activity that you want to look into, we can perform narrowly focused reviews of any or all loan files and packages.

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At CoreLogic, we understand that your needs are unique and will work with you to customize a solution that fit your needs precisely.

In a declining market, every passing day means money lost

Our short-sale, deed-in-lieu, foreclosure, and REO technology tools and services offer solutions that help reduce your time to closing and minimize loss severity. Once it’s clear a borrower has no interest in or does not qualify for a loan modification, you need to move quickly to curb your losses. At CoreLogic, we deliver the support you need to smooth the path to a speedy completion. 

We offer innovative workflow and automated decisioning within a flexible, scalable, Web-based framework to drive efficiency and reduce costs. Some solutions work across all types of disposition transactions, while other address transaction-specific challenges, such as our Proactive Short Sales and REO Services. 

Short-Sale Services

Proactive Short Sales includes data, analytics and technology, as well as access to vendor networks, tactical resource deployment, and support services to help you identify the best candidates and reach out proactively to help you improve your short sale pull through.

Short Sale Monitoring Solution protects lenders from avoidable losses resulting from short-sale fraud and under-pricing.

REO Services

REO Services lets you take advantage of our holistic approach to liquidating REO properties to shorten your time to market. Choose from our menu of individual services or get the pricing benefit of one flat fee for all.

REOWatch™ allows you to track the post-closing performance of REO sales through instant alerts and key-metrics monitoring. This tracking and reporting provides key insight into your portfolio performance over time, and allows you to modify business and inventory-pricing strategies based on real-world data.

Default Technology Solutions

Our default technology allows tasks to move fluidly through the default pipeline with less human intervention and greater transparency, enabling staff in different departments to view all loan activities. This provides improved oversight and control by enhancing top-down transparency, real-time reporting, and secure Web access.

Components and functionality include:

iClear Electronic Invoicing automates and streamlines invoice management and provides top-down visibility and audit trails to ensure invoices move through the system correctly.

VendorScape Case Management System (VSCMS) offers powerful yet flexible tracking and communication functions that allow vendors to process their work efficiently and according to their own established business practices. VendorScape CMS reduces referral completion to an average of 23 days less than established governmental or investor timelines.

VendorScape Service Gateway is an advanced, Web-based solution that automates order submission, fulfillment and reconciliation of third-party services.

VendorScape Case Loss Mitigation , our advanced loss mitigation solution, evaluates loan properties, borrower’s interview results and financials, and recommends available workout plans.

TaxWatch® for VendorScape helps compress case management timelines and reduce the risk of fees and penalties with one-touch property tax data retrieval.

VendorScape Preforeclosure and Foreclosure modules provide streamlined document management and decision-making tools to help you meet investor and insurer guidelines. It also helps investors verify that the property has sufficient equity to proceed with foreclosure. The module offers preforeclosure support and, once the foreclosure begins, provides all components needed to manage the foreclosure according to jurisdiction, loan type, and investor requirements. It also monitors second liens and offers connectivity with attorneys and other business partners.

VendorScape Bankruptcy module provides end-to-end bankruptcy management and integrates electronic court-filing services, bankruptcy notification, disposition monitoring, and integration with BANKO. It also tracks payment history, monitoring, and reconciliation to improve auditing capabilities.

VendorScape Litigation simplifies litigation management and provides support for eminent domain, mechanics’ liens, probate, delinquent tax sales, title claims, contested foreclosures, and other litigation matters. The module works closely with other modules and has built-in task management, document management, and messaging capabilities.

Our flexible framework adapts to your business model, rather than forcing you to adapt your operations to our technology. In addition, our open architecture enables easy integration with your existing in-house and third-party applications.

Property-Related Products and Services

With the nation’s largest property and ownership database and the largest nationwide network of valuation experts, we can easily satisfy your needs.

Document Retrieval Services give you access to our proprietary repositories, online databases, source libraries and nationwide network of field researchers to get a cost-effective solution for obtaining mortgage information and recorded documents.  

Property Preservation Services offers a network of field service providers that secure your properties at recovery by rekeying to prevent unauthorized access and by making any emergency repairs to prevent further damage.

Property Inspections serve as your eyes on the property to complement your valuation efforts and help you comply with inspection requirements.

ValueView Inspection brings you an affordable, one-page solution to determine property condition. It includes a current photograph and a concise onsite inspection report completed by a licensed real estate broker/agent.

ValueView Inspection + AVM is a hybrid valuation alternative that gives you the best of both worlds—the benefits of AVMs and on-site inspections.

Valuation Products and Services

We offer a complete range of valuation product and services including several popular options for valuing distressed assets:

GeoAVM Distressed™  provides a quick, low-cost, automated valuation that delivers current or retrospective valuations with information-rich property reports. Ideal for early, repeat and volume valuations, dramatically reducing distressed-asset valuation time and expense.

Broker Price Opinions (BPOs) offer a cost-effective, accurate and time-sensitive alternative to conventional appraisals.

Appraisals bring you our nationwide network of highly qualified appraisers and quality-assurance professionals who deliver accurate appraisals that comply with regulatory, secondary market and customer-defined standards.

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At CoreLogic, we understand that your needs are unique and will work with you to customize a solution that fit your needs precisely.

Reduce financial exposure and expedite claims

Managing foreclosure claims is a time-consuming and high-risk task under the best of conditions. Processing delays and errors expose your organization to increased losses that dramatically impact loss severity and reserve requirements. The cost of increased compliance risk, loss exposure, potential penalties, staff recruitment, training and additional facilities can quickly add up. 

With over 18 years of experience focused on mortgage insurance claims and investor billings, we are the industry leader in processing services and technology solutions that help you reduce costs, avoid losses and maximize your recoveries.

We have the ability to quickly deploy a fully trained staff capable of managing all the major processing systems, or we can provide a full-service solution with our robust claims processing platform, CMAX. Our industry-leading claims processing technology provides support for all FHA, VA and conventional mortgage insurance claims, as well as all investor billings. Learn More about CMAX >>

CoreLogic offers an extensive range of services and technology solutions to:

• Reduce your financial exposure
• Minimize staffing costs
• Expedite claims processing
• Provide flexible, scalable claims management solutions

 We provide a full range of claims processing and investor billing solutions, customized to your criteria, including:

• FHA conveyances and claims
• Fannie Mae billings
• Freddie Mac billings
• VA conveyances and claims
• Conventional mortgage insurance claims
• Private investor billings