New Diligence for Capital Markets

New Diligence™

Because the Old Rules No Longer Apply

The MBS market will never be the same again. The rules are changing—gradually, unavoidably, dramatically. What the market will ultimately become is only starting to emerge.

One thing’s for sure, however—risk visibility will be king. No one with money at risk can afford to take securities values on faith anymore.

The Securitization Dilemma

The risk profile of the new MBS markets has already changed from historical patterns in an unsettling way: the rules themselves have become the primary risk factor.

The mortgage-backed securitization market continues to limp along, crippled by concerns about how quickly GSE involvement will diminish, how much of a factor it is likely to remain, when loan limits will begin to lower—and by how much, and for how long—and…and…

Market uncertainty is at unprecedented levels.

What Is New Diligence?

New Diligence from CoreLogic® harnesses the unequaled breadth and depth of our data, analytics, and human assets to give you fast, accurate, actionable insights into the MBS marketplace—and to prepare you for what’s coming next, no matter what it is.

New Diligence combines CoreLogic data, applications, and expertise into carefully focused solutions that provide you the exact insights you need to understand your options in making business choices—and to move faster than your competitors to implement them.

Tailored to your specific needs, New Diligence brings together our full array of:

• Data resources
• Asset valuation and risk assessment
• Housing analytics and market trends
• Due diligence and advisory solutions
• Workflow Technology

To simplify accurate evaluations of:

• Loans
• Pools
• Portfolios
• MBS/ABS securities
• MBS/ABS security derivatives

What Should You Do?

How do you deal with such core business uncertainty? Since there’s little you can actually do until the new standards emerge, it’s tempting to wait and see. But that carries its own risk—that when some degree of stability returns, you’ll be so far behind you can’t catch the competition.

A better alternative: prepare for all likely possibilities—all reasonable outcomes.

To prepare yourself for all such outcomes, you should pick a partner with the breadth and depth of resources to anticipate—and understand—any and all of them. You should pick a partner who won’t downplay the likelihood of certain outcomes just to mask their own resource limitations.

How Does It Work?

To see how New Diligence can marshal the CoreLogic army of assets to answer your most difficult MBS pricing, performance, trending, evaluation, and forecasting questions faster, more accurately, more clearly than traditional approaches—please read on.

Whole Loans

Rewriting the Rules

Market Rebuild

Rebuilding the non-agency securitization marketplace has proven to be so difficult because its collapse was triggered by a deep-seated failure—a breakdown of trust between buyers and sellers. The market’s faith in highly-rated, poorly-understood financial rockets was suddenly replaced by the frightening realization that what was supposed to keep going up—was coming down fast.

From that moment on, the old rules no longer applied.

Public or Private?

Restoring investor trust requires new rules—rules that can either be imposed by new government regulations or defined and championed by the industry itself. Since “securitizations gone wild” still get most of the ink, whole loan trading is at risk of being undermined by the same opaque and confusing hazards that helped destroy the non-agency RMBS market—jeopardizing the recovery of investor trust from the start.

New Diligence for Whole Loans rewrites the rules by replacing cloudy, ambiguous portfolio risk estimates with detailed, dynamic, verifiable pool- and loan-level risk evaluations.

How It Works

New Diligence for Whole Loans applies rigorous due diligence to your portfolio, augmenting your loan files with dynamic public record and proprietary data, cutting-edge valuations, and stochastic predictive modeling. This quickly uncovers loan-level portfolio risks—credit, collateral, compliance or buyback—that affect your returns, no matter what your perspective:

• Value investor seeking portfolio stability, with no “surprises”
• Seller looking for an accurate pre-bid evaluation
• Broker eliciting buyer interest based on valid portfolio strengths
• Any party to whole loan trades built on confidence and reliability
• Securitization stakeholder—investor, rating agency, trustee, regulator—whose participation hinges on whole loan transparency

New Diligence for Whole Loans focuses on correcting two ubiquitous but critical factors likely to undermine the accuracy of portfolio risk evaluations in the still-evolving market:

• Risk visibility—the lack of granular understanding
• Changing-rules risk—the patchwork policy and contractual responses

Risk Visibility

New Diligence whole loan experts utilize multi-layered analytics and modeling tools to assess multiple risks simultaneously—property attributes, borrower behaviors, document deficiencies, and others—drawing upon high-quality data from industry-leading CoreLogic property, mortgage, borrower, tax, real estate, and market-trend databases.

Using customized terms and workflows fitted to your specific products and transactions, they then consolidate your portfolio’s credit, compliance, collateral, and fraud risks—and produce transparent explanatory results with clear decision-making guidance.

Changing-Rules Risk

With the rules governing the marketplace—and individual trades—in a state of flux, a trade’s contractual complexities may have unseen but significant consequences.

When such complexities can affect current value or future performance, our New Diligence experts control for this uncertainty by modeling the multivariate potential effects on a given evaluation or trade. Weighted for real-world likelihood and automated for urgency, these projections give you a significant competitive advantage in the marketplace.

Trading Distressed Whole Loans

As the volume of underwater mortgages and foreclosures grows, many traders are now specializing in distressed properties, non-performing loans, and residential REOs.

More than any other, this market requires the kind of rigorous due diligence only New Diligence for Whole Loans can reliably provide. To operate successfully in a market like this, traders need to understand loan-level detail in its full array of unique life-of-loan and changing-rules risks.

Overcoming Market Uncertainty

New Diligence for Whole Loans rebuilds confidence in the trading  process through our industry-leading data, high-speed analytics, and cost-effective expertise—so you can make quick, smart business decisions that succeed even in a still-uncertain environment.

Asset Valuation and Risk Assessment

Our analytics and modeling platforms provide simple, sophisticated tools to manipulate
data, analyze risk, and predict risk-based performance.

Once our New Diligence solution team begins accessing the data needed to solve its defined challenge, they may draw upon an array of sophisticated analytics and modeling tools to determine the value of underlying assets and assess current and future risk, including:

Pre-Bid SnapShot

Designed to give you a cost-effective, decisive, immediate competitive advantage in the mortgage pool bidding process, Pre-Bid SnapShot generates fast, decisive information about properties underlying the pool’s value. With the speed of automation and the reliability of CoreLogic’s data and analytics, it provides an immediate loan-by-loan assessment of the collateral and identifies encumbrances affecting value, such as open liens, flood zone concerns and more.

Broker Price Opinions (BPOs)

Our nationwide network of 12,000+ brokers and agents delivers high-quality broker price opinions (BPOs), filling a critical intelligence gap for our issuance and investor customers.

Our BPOs offer important benefits:

• The ability to meet high-volume valuation needs quickly and affordably
• Highly accurate valuations for greater confidence in decision making
• Appropriate disposition sales prices to curtail missed opportunity losses

CoreLogic on-site BPO reviews verify property information and assess property condition faster and more affordably than full appraisals. Because we’re also a leading provider of AVMs, full appraisals, and various hybrid valuation services, we understand the role BPOs play—and how to ensure they deliver the unbiased accuracy, speed, and reliability needed for complete confidence.

TrueLTV and HomeStandings work with GeoAVM Distressed
and Broker Price Opinions to determine accurate current
collateral evaluations.

Bond Analytics Solutions

Our bond pricing and analytics solutions seamlessly integrate LoanPerformance analytics and modeling capabilities with Intex deal models' CoreLogic HPI and HPI Forecasts statistical tools, providing:

• Improved RMBS valuation plus risk management and surveillance
• Improved bond pricing that accurately predicts collateral loan behavior
• Simplified insights from a single view of securities, borrower, and real estate data
• Real estate trends based on Zip code-level historic and projected pricing

TrueLTV™ Secondary Lien Risk

With TrueLTV, you can reveal potential default and prepayment risk exposure by determining the level of mortgage debt risk on a property:

• Exposing all open mortgages per property
• Estimating the current market value from our PASS® Prospector AVM
• Calculating the equity (or negative equity)
• Calculating the cumulative loan-to-value ratio (CLTV)

GeoAVM™ Automated Valuation Models

Our GeoAVM suite of automated valuation products and services derives its name from a sophisticated geo-preference sorting system that auto-analyzes the historic accuracy of each AVM in each geographic area to determine an impartial and accurate AVM cascade. By simultaneously examining potential factors that may include geography, price tier, property type, subject property factors and other variables, GeoAVM cascades reduce the time and money spent on valuation compared to more traditional processes.

LoanPerformance RiskModel®

Since every RMBS decision is based on assumptions about future risk, issuers and investors have long relied on RiskModel’s continuously updated ability to define and predict these risks. RiskModel leverages the LoanPerformance prime, alt-A, subprime, and home equity databases, subjecting relevant data to rigorous predictive analytics that project the future performance of whole loans, securitized mortgages, and home equity lines of credit.

RiskModel provides robust outputs focused on these key categories:

• Prepayments, defaults, loss and cash flow forecasts
• Mortgage status transitions or roll-rates (current, delinquent, paid off, defaulted)
• Probability of default (PD)
• Loss given default (LGD) or severity

Using Monte Carlo simulation methodology, RiskModel creates distributions of possible outcomes given simulated and specified “What if?” scenarios. These enable users to determine which projected outcome aligns best with their investment strategy or regulatory requirements.

HomeStandings™ Valuation Scoring

Assessing a home’s value requires solid knowledge of its surrounding market. There are many characteristics that determine price and on-market time, including:

• Foreclosure rate
• Foreclosure exposure
• Distress dominance
• School district rank
• Crime rate
• Sale price

The HomeStandings grade captures these and other factors for quick reference, with an accompanying report clarifying elements that factored into the score. This straightforward presentation of real-world valuation influences allows the home’s projected valuation to conform more closely to the likely value that the market would produce were it sold today.

Housing Analytics and Market Trends

Our Real Estate Analytics analyze HPI data to produce precise information about current and future real estate trends.

Home Price Analytics and Market Trends

If a New Diligence challenge includes a significant pricing component—or depends on statistical projections of future portfolio or bond performance—the team will access our state-of-the-art real estate statistics toolset, the Real Estate Analytics Suite. Its components include:

CoreLogic Home Price Index

The CoreLogic Home Price Index (HPI) delivers the most comprehensive early view of current home price trends, a critical factor in mortgage and market risk assessment. Whatever your role—originator, broker-dealer, servicer or hedge fund investor—success in real estate finance requires fast, accurate, robust assessment of the associated risks.

CoreLogic HPI Forecasts graph showing 12-Month HPI change data comparing the national HPI trend to those of selected states.

CoreLogic HPI Forecasts

Home price forecasting is vital for anticipating key trends and future volatility in real estate markets. However, forecasting methodologies vary greatly and can yield decisively different results. CoreLogic HPI Forecasts is designed to bring rigorous professional discipline to the process so our clients can accurately gauge future real estate risk.

The CoreLogic Home Price Index forecasting model predicts house price movements at the Zip code, county, CBSA, state and national levels at monthly intervals. In each geographic market, the model generates predicted house price changes up to 24 months in the future. Current HPI and HPI Forecast coverage includes:

• 6500+ Zip codes
• 1100+ counties
• 960 CBSAs
• 50 states + DC

ValueTrends

ValueTrends represents a new concept in property valuation trend statistics, placing an AVM value on all properties in given geographic areas (states, CBSAs, counties, Zip codes) then calculating maximum, minimum, median, and mean home price values and providing:

• Local home price distributions
• Market validation at granular and macro levels
• Independent value perspectives
• Objective risk and opportunity assessments

Since ValueTrends evaluates a continuously evolving stock of houses by the same yardstick over time, it provides a competitive market appraisal snapshot at any given point in time.

HPI Valuation Engine

The HPI Valuation Engine is a unique tool which facilitates the estimation of market value for single or multiple properties using the CoreLogic Housing Price Index (HPI). The HPI Valuation Engine requires only three property level inputs: Zip code, prior sales date and sales amount, to trigger a proprietary and intelligent cascade mechanism that generates a market value. The Home Price Index Valuation Engine has a 100% hit rate. The CoreLogic cascading methodology selects the ideal tier and geographic combination maximizing the probability that the estimated market value will be within 10% of the actual property value. HPI Valuation Engine also produces a confidence score, which assesses the accuracy and quantifies the confidence in the estimate. The HPI Valuation Engine allows clients to rapidly identify value and prioritize risk according to market exposure.

ListingTrends

ListingTrends is a unique modeled data set we derive from our MLS partners and listing data providers. It provides the kind of real-world information needed to analyze housing inventory supply and price trends with real confidence.

Statistics derived from ListingTrends data offer early insight into emerging real estate risks and opportunities. Updated monthly, ListingTrends is a bellwether of changing trends, providing timely indicators of the current housing market and its possible future direction.

ListingTrends property-level data is captured monthly, scrubbed, modeled, and aggregated at the Zip code, county, CBSA, state, and national levels—resulting in comprehensive U.S. coverage.

MarketTrends

MarketTrends map showing California foreclosure incidence by county.

MarketTrends is the industry’s only neighborhood report on home sales, market distress, negative equity, and mortgage performance. Each month CoreLogic combines Zip code-level public records of home sales, prices, foreclosure filings, and mortgage performance data to provide a snapshot that identifies potential expansion opportunities, valuation trends, performance analysis, and benchmarking standards.

Derived from multiple CoreLogic data sources—including public record, servicing and securities databases— MarketTrends reveals underlying market health at all geographic levels.

Loan-Level Market Analytics

Overview | Foundation Data | Optional Analytics | Data Resources | Customization

Overview

Investors and servicers are leading a quiet revolution in portfolio risk management. To avoid future financial risk, many industry leaders are moving away from high-level portfolio risk summaries to precise, loan-level portfolio analytics. Although previously dismissed as too cumbersome and time-consuming, loan-level analytics have come into their own as advances in data and technology have coalesced to make them as fast and cost-effective as portfolio-level summaries—and far more accurate.

Loan-Level Market Analytics combines mortgage, property, and anonymized borrower data with focused analytics to provide the information you need to make trustworthy assessments of portfolio risk. By including both agency and non-agency mortgage data, it gives lenders, servicers, investors, and advisory firms a unique, comprehensive intelligence resource to ensure that portfolio benchmarking and internal modeling are consistent, dynamic, and accurate.

Loan-Level Market Analytics empowers a new approach to portfolio risk management—one based on the idea that risk managers get better results when they start with the information they need than when they first have to manipulate mountains of raw data to create that information themselves.

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Built on a foundation of contributed data, Loan-Level Market Analytics offers optional focused analytics modules that enable exacting customization and new levels of accuracy in modeling and benchmarking risk.

Foundation Data

The foundation of Loan-Level Market Analytics is contributed market data from most of the top U.S. servicers—origination and performance data on some 180 million agency and non-agency loans, with history dating back to 1999.

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Optional Analytics

Four optional Loan-Level Market Analytics modules add focused, loan-level data and analytics that provide the kind of telling insights that make it possible, for example, to differentiate real-world risk between two seemingly identical loans.

The optional Loan-Level Market Analytics modules:

•	Loan Modification Insight identifies changes to interest rates, payments, and loan balances that have resulted from loan modifications
•	Property Insight offers current, AVM-generated property valuations, current open liens, and combined loan-to-value (CLTV) metrics
•	Supplemental Loan Insight provides alternatively-sourced loan-level data, including loan terms, additional origination data (coming soon)
•	Borrower Credit Insight offers anonymized borrower credit information powered by TransUnion, including credit scores and borrower behaviors for debts beyond the listed mortgage (limits, delinquencies, utilizations, etc.)

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Data Resources

Industry-leading CoreLogic databases that are integrated with Loan-Level Market Analytics include:

• Property data covering over 99% of U.S. properties
• Property transaction data (mortgage details) covering 97% of the U.S. population
• Updated property values from proprietary AVM models
• Current property occupancy indicators
• Property listing data
• Anonymized borrower credit, including credit history

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Customization

From the outset, Loan-Level Market Analytics was designed to enable client customization on many levels—to make it easy to configure a solution that precisely matches your needs. Built on a foundation of loan-level origination and performance data for 180 million agency and non-agency loans, its insights can be enhanced by including optional analytics modules focused on properties, borrowers, and supplemental information. A powerful tool integrating loan, property, and consumer data, Loan-Level Market Analytics can give you a 360º view of mortgage risk.

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Due Diligence and Advisory Services

New Diligence Advisory Services professionals help you negotiate uncertainty and confusion to find the exact insights you need.

With expertise in banking, bond trading, hedge funds, rating agencies, financial engineering, mortgage origination and mortgage servicing, our Advisory Services professionals will help you structure the Due Diligence solution you need to find the answers you want.

Due Diligence Services

With experience in buy-side perspectives, bond trading, credit ratings, financial engineering, and mortgage origination and servicing, our Advisory Services professionals help you structure and populate the New Diligence solution you need to find the answers you want. Our specialties include—but are not limited to:

Our due diligence team creates customized loan file review strategies that leverage our data, analytics, and professional experience to identify risk—whether it be credit, collateral, compliance. or fraud—at the loan level. We then work with you to design a solution that aligns with your business goals and delivers the information you need to make confident, informed decisions.

• Forensic Due Diligence Our veteran underwriters use proven analytics tools to uncover reps and warrants breaches and misrepresentations and retrospective underwriting to validate data, detect income and occupancy misrepresentations, and verify adherence to credit, collateral, and predatory lending guidelines.
• Non-Performing Loan Review We analyze distressed portfolios at the loan level to verify collateral valuations, ensure predatory lending regulation compliance, and evaluate collection status and payment history to help you formulate loan-by-loan execution strategies.
• Acquisition and Securitization Review Our consultative services and automated tools help you maintain compliance with investor and rating agency “third-party review” criteria, including adherence to fraud, misrepresentation, data quality, and underwriting guideline requirements.
• Quality Control Review We provide outsourced quality-control solutions for originators that are customized to your guidelines, accommodate variability in volumes, and deliver an independent assessment of your program adherence.
• Data Scrub We develop and execute data-validation reviews targeting specific elements and data sources that provide reliable results for improved risk management.

Reps and Warrant Analytics

Material errors in mortgage loan files can significantly affect the outcome of MBS-based litigation. Identifying those errors—and spotting any outright fraud—is a New Diligence service we offer during the pre-trial investigative process.

Examples of criteria we investigate include:

• Inflated appraisals
• Unsecured liens
• Broken chains of title
• Occupancy fraud
• Non-disclosure of concurrently owned properties

Our automated reps and warrants research can reveal key facts quickly, saving countless hours in the law library.

Our New Diligence Reps & Warrants investigations regularly uncover, for example:

• Inflated appraisals A comparison between our retroactive AVM property values and the original appraised values can detect disparities that lead to LTV misrepresentations.
• Unsecured liens Our public records data can validate that mortgages are recorded at county clerk’s offices, establishing the required lien on the property.
• Broken chain of title Are your loans actually assigned to the Trust—or can another party lay claim to the collateral because the assignment chain is incomplete? Our data can differentiate between such potential exposure and a secured lien appropriately assigned.
• Occupancy fraud With numerous occupancy indicators, our data can supply collective information that either supports or refutes stated occupancy claims.
• Non-disclosure of concurrently owned properties By cross-referencing property and borrower data with transaction data, we can determine concurrent ownership histories. These might represent additional liens that were not property disclosed on the mortgage application. They could also supply additional evidence of occupancy fraud.

Advisory Services

Our Data Advisory Group team provides expert assistance in using our wealth of data and analytics/modeling tools to create quick, custom-targeted results. With experience in buy-side perspectives, bond trading, credit ratings, financial engineering, and mortgage origination and servicing, we cut through complexity and confusion to find the information, insights, and ideas you need—quickly, clearly, painlessly.

Our group’s New Diligence specialties include:

• Custom due diligence services
• Reps and warrants analytics
• Bond pricing and OTTI adjustments
• Whole loan pricing
• Asset management improvement
• Dynamic credit hedging strategies
• Retroactive, current and forecast appraisal management

Due to our ongoing participation in industry and government advisory organizations, we are also extremely well-versed in likely new compliance and disclosure requirements stemming from Dodd-Frank and other regulatory initiatives.

Consulting

Our consultants have access to the full spectrum of CoreLogic skills and resources to help you cut through external complexity and internal confusion and find the New Diligence information you need to move forward quickly, clearly, and painlessly—including:

• Whole loan and RMBS valuation and pricing
• Predictive modeling and analytics
• Portfolio performance benchmarking
• Capital risk weighting
• Cash flow projection
• Hedging strategies

Data Resources

CoreLogic databases increasingly power combined-workflow solutions,
designed to solve problems quicker by overlaying data in new ways.

Since New Diligence starts by uncovering accurate facts about the assets driving value, it relies on the completeness and accuracy of our data. Although New Diligence solutions can access any CoreLogic data service—we most often access and use:

Non-Agency RMBS Securities Data

Our LoanPerformance® Securities database—the largest repository of loan-level information on the U.S. RMBS market—tracks prepayment and credit delinquency risk on over $1.9 trillion in RMBS (over 97 percent of outstanding pool balances) plus loan-level detail on the underlying collateral of 15,000+ private-issue mortgage-backed securities (12,000 active). Data is available on two platforms—TrueStandings® Securities and Vector™ Securities—as well as text data.

Servicing Data

Our LoanPerformance Servicing database includes more than 40 million active mortgages, with delinquency, prepayment, and roll-rate metrics at the Zip code-level, offering thousands of analytics options on the full dataset or defined cohorts. These data metrics are available in both the prime and subprime datasets with loan-level data on 28 million loans.

Our TrueStandings Servicing platform offers anonymized filtering and performance-measurement metrics that enable flexible, focused, time-saving ad hoc reporting in addition to its always-current one-click standard reports. Product types covered include all ARM variations with Zip code-level access for granular analysis. We also provide loan-level access to over 130 million anonymized prime and subprime loans (both active and closed) for data modeling, trending, and custom metric development.

Home Equity Data

Our LoanPerformance Home Equity database includes 7 million+ lines and loans representing more than 80% of bank-owned home equity loans and lines of credit. The TrueStandings HomeEquity platform from CoreLogic can be used to benchmark home equity and second mortgage portfolios to the national market, to compare your portfolio performance to industry standards—including delinquency, prepayment, and utilization—and to assess credit policy, servicing-cost management, geographic risk levels, and prospective portfolio purchases. We also make access available to loan-level data on over 50 million anonymized home equity loans and HELOCs to support customer modeling and custom analytics needs.

Data Quality

Evolved over decades, our data quality control system is an enterprise-wide effort that assures the accuracy, completeness, consistency, timeliness, validity, and security of the data in our repositories. We dynamically update all databases continuously, normalize incoming data to streamline its use, classify it to comply with current regulatory standards, and provide advanced security safeguards to assure data integrity, confidentiality, and availability.

Credit Data

CoreLogic has partnered with the leading credit reporting agencies enabling access to the most up-to-date borrower credit scores and credit data for RMBS. The solutions consist of anonymized U.S. consumer credit profiles that have been matched to the private-label securitized mortgage deals in the industry-leading loan-level LoanPerformance database. Investors who currently utilize only traditional loan-level data will find that these solutions afford them a new set of influencers in delinquency and loss forecasting, helping to optimize pricing strategies, improve model accuracy, and enhance deal surveillance.

• Credit Append Products Append of single or multiple bureau credit scores and/or attributes.
• Credit Monitoring Solutions: Single or multiple bureau trigger based monitoring of consumers in a portfolio. Perform account review, search for undisclosed debt, monitor portfolio, etc.
• Occupancy Review/HOOS Consumer credit review for affirmation of occupancy. Join securities data with public record data, credit data and apply analytics to determine loan occupancy status.

Tax Delinquency Data

From basic tax data solutions to the complete outsourcing of traditional tax functions, our services help 22 of the top 25 servicers manage over 28 million loans, representing over half of all first mortgages in the U.S. As a result of this operational effort, our property tax database has grown to 145 million parcels and our tax delinquency database is now over 25 million records. The scope of this data provides a comprehensive framework from which property tax information can be analyzed and interpreted.

Our two super-datacenters house three petabytes of redundant, real-time data,
protected by self-sustaining digital and physical security systems.

Real Estate Property Data

The CoreLogic real estate database, the largest in the world, provides property and lien information covering most U.S. properties and borrowers, including:

• 99+ percent of U.S. residential properties (145 million)
• 100 percent of U.S. county, municipal, special tax districts (3141 Counties)
• 3.5 billion+ public document images, available for real-time delivery
• 575 million+ historical transaction records, spanning 40+ years
• 99+ percent of commercial real estate properties (26 million+)
• 75 million+ mortgage applications

Match and Append Database Services

Our Match & Append Database Services combine access to the nation’s largest property and ownership databases with inclusion of additional metrics uncovered and appended by our network of field researchers— providing you often-unexpected insights into critical risk factors.

From in-depth details about single or multiple properties to markers indicating trends for a neighborhood’s properties to historical lending practices and patterns— or any metric you choose—our experts can quickly find and attach them to individual files or entire portfolios.

Workflow Technology

The new collaborative cloud computing applications and architecture from CoreLogic Dorado automate data handling throughout the mortgage process—from origination through securitization—integrating real-time borrower, organizational, and market information into the workflow to give lenders, servicers, issuers, and investors a more transparent view of loan and transaction processing.

CoreLogic Dorado automated capabilities enable transaction decision-makers to move faster, at less expense, and with more accuracy—using technology that provides:

• Highly scalable loan origination platforms
• Multi-channel and loan type activity plans
• Rich Internet Application (RIA) user interfaces
• Full workflow and document management
• Ease of integration via service-oriented architecture

We offer the first enterprise-level system capable of producing loans using a fully compliant, consistently high quality, an efficient process—one that front-line users actually enjoy using.