Collateral Management Solution
Collateral Management System
The CoreLogic Collateral Management System (CMS) is an enterprise valuation order management and review system delivering proven expertise in process efficiency, appraisal compliance and workflow management.
End-to-End Workflow
The CMS establishes automated solutions for best practices in appraisal ordering, tracking, review and management. Each of the modules within CMS work in tandem, providing a powerful, comprehensive workflow solution for managing lender valuations. This includes intelligent decisioning tools to reduce the need for manual intervention, allowing for optimal transaction processing time at all points in the order lifecycle and leading to improved efficiency gains.
Compliance
Compliance is critical in ensuring thorough appraisal valuations submissions and avoiding time-intensive rework. The CMS supports lender compliance with OCC, OTS, Federal Reserve, FDIC and FHFA. Additionally, we can help you set up and maintain configurable in-house regulations.
Analytics
Providing state-of-the-art analytic tools to support pre-qualification, automated reviews, scores and verification of appraisal details, the CMS provides advanced insights to power your valuation workflow. These analytics are powered by the nation’s most comprehensive database of property details called National Collateral Database™, blending public record information with shared appraisal data for a more trusted data source.
Configurability
While your appraisal valuations process may not stray far from industry norms, there are nuances to your workflow that differentiate you from other lending institutions. With thousands of possible configuration parameters, our experienced implementation team helps configure CMS to fit your existing workflow, amplifying efficiency and productivity gains.
Discover the power of effective and streamlined appraisal and title management through Collateral Management System.
Residential Appraisal Management
The Collateral Management System (CMS) is an automated solution for best practices in appraisal ordering, tracking, review and management.
CMS helps lenders, appraisers and AMCs to more efficiently manage and track progress of residential appraisal orders. From initial order creation, assignment, communication, automated QC review and more, CMS sets a standard for residential appraisal management.
Take full control of your residential appraisal management with CMS.
Commercial Appraisal Management
The Commercial valuation and due diligence solution allows lenders to order commercial appraisals, inspections, evaluations and more.
Faster, more efficient bids from multiple vendors, complete with histories, notes and other necessary details allow commercial underwriters to save countless hours by:
- Eliminating redundancy
- More easily proving due diligence
- Enhancing communication through automated notifications
- Leveraging expansive vendor panels
- Improving digital mortgage experience
- More fully complying with banking regulations and appraiser independence requirements
The CMS commercial valuation solution helps establish a standardized, repeatable valuation workflow, helping commercial appraisers to better organize and manage their orders and avoid inefficiencies caused by an inconsistent, varying process.
Organize your complete commercial appraisal management with CMS.
HELOC Solutions
When mortgage interest rates begin to rise, consumers generally turn away from primary mortgage loans or refinance opportunities in favor of home equity options. One of the keys to successful home equity lending is closing loans quickly and efficiently. CoreLogic valuation technology platforms, such as CMS, allow you to manage your valuation process your way. You can order HELOC friendly solutions such as AVMS, real condition reports, desktop appraisals, and more - not to mention upgrading to a full valuation at any time. These advanced platforms integrate with your existing tools to streamline your home equity lending process, providing fast and reliable valuations of all types.
CoreLogic is your single-source provider of best-in-class platforms and solutions for your home equity lending valuation needs,.CMS is a premier valuation workflow solution that provides all the tools and benefits you require to successfully manage your home equity orders.
CoreLogic AVMs and property evaluation resources create a powerful combination.
Ports
The Ports solutions are secure, web-based work sites from which vendors can receive orders, send completed reports, and communicate with their clients and mortgage lenders. Composed of AppraisalPort, TitlePort and InspectionPort, the solutions provide a direct, secure connection to some of the largest mortgage lenders, banks, appraisers and appraisal management companies, title and settlement agents, and inspectors in managing collateral workflow orders.
AppraisalPort
- More than 80,000 appraisers at your fingertips
- Effortlessly order reports from anywhere in the nation
- Easily track and receive appraisal status
- Securely and efficiently streamline order fulfillment process
TitlePort
- TitlePort places more than 15,000 registered title and settlement vendors at your fingertips. Lenders may effortlessly order a title or closing report from anywhere in the nation, communicate securely with the title or settlement agent, easily track the order status and receive the completed title or closing data directly to the CMS.
- From receiving and accepting title and closing orders, to order and document submission, to general communications with the lender, TitlePort securely and efficiently streamlines the order fulfillment process between a lender and title or settlement agent.
InspectionPort
- InspectionPort stores a thorough record of completed inspection orders and a full log of all communications related to each Inspection while removing the security risks, confusion, and uncertainties that can result from traditional communication methods.
- Lenders may effortlessly order an inspection report from anywhere, communicate securely with the broker or inspector, easily track the order status and receive the completed inspection data directly to the CMS.
The Ports solutions make it easy for your vendors to better manage their orders, remain in compliance with necessary regulations, communicate more effectively, and keep all sensitive documentation or information secure.
Appraisal Inspection Scheduling
Xcelerator is an appraisal inspection scheduling tool designed to drive faster turn times and an improved, transparent experience in the appraisal scheduling process.
Faster Inspection Scheduling
With Xcelerator, the appraisal scheduling can occur more quickly, reducing turn time by up to three days.
Validation of Contact Info
Appraisers often have incorrect or incomplete contact information for a property contact, making it difficult to schedule an appointment. Xcelerator confirms this necessary contact information upfront, leading to more reliable details and quicker outreach to the property contact.
Convenience
Property contacts conveniently select an inspection date and time based on a pre-defined availability list provided by the appraiser. Through an automated date selection process, appraisal inspections are scheduled more quickly, through more convenient means to the property contact, and appraisers are able to get more done in less time.
Mobile Ready
Inspection schedules occurs anytime, anywhere within an intuitive mobile-first approach, without the inconvenience of installing a one-time-use app.
Appraisal Delivery
eDelivery
Upon the submission of the inspection report by the appraiser, the appraisal is immediately delivered to the borrower via email to comply with regulatory requirements through the eSign Act. Not only is eDelivery the quickest way for a consumer, lender and/or title provider to receive the appraisal documentation, but it’s secure and convenient for all parties involved.
Hard Copy Delivery
If the digital appraisal report is not accepted or sent to the borrower within a configurable period of time, a request for a physical copy of the report is automatically submitted to a processing partner, and a hard copy is delivered to the borrower within days to comply with regulatory requirements through the eSign Act.
Generally Accepted Appraisal Rules™(GAAR®)
Compliance Rule Series
The Compliance Rule Series is based on published guidelines and requirements from sources such as:
- Fannie Mae
- Freddie Mac
- FHA and VA
Risk Rule Series
The Risk Rule Series goes beyond compliance and are proprietary to CoreLogic. They alert on areas of risk, such as:
- Excessive adjustments
- Improper comparable selection
- General inconsistencies
- Unsupported values
External Series
The External Series compares information from external data sources to flag possible inaccuracies in the appraisal form. Examples of these sources include:
- CoreLogic National Collateral Database (NCD), which includes public records and blended Appraisal Data
- National Registry of the Appraisal Subcommittee (ASC.gov) to determine credentials
The Collateral Management System (CMS) and GAAR provide enhanced workflow management to underwriters, reviewers and appraisers to generate the most effective and efficient automated review in the industry, while minimizing human touch points and improve accuracy.
How Does GAAR 360° Work?
Designed to save time for reviewers while cutting costs for banks, GAAR 360° presents an on-screen view of the appraisal report and highlights any deviations from the expected results, such as missing or inaccurate data collected from the appraisal submission.
GAAR 360° also enables a side-by-side appraisal comparison for effortless report reconciliation and corrective measures, giving lenders the power to instantly review and resolve appraisal issues in seconds from their desktop updated on an as-needed basis to address any updates in industry guidelines and regulations.
What Makes The Solution Automated?
The use of the automated worksheet within GAAR 360° takes your productivity to peak levels. The solution makes your appraisal review more organized, more efficient, and more thorough.
- Add rule firings or appraisal fields to your worksheet for follow-up review
- View all rules that need to be cleared and resolve them with a click
- Set up custom dispositions
- Send notes or actions back to the Collateral Management System (CMS)
- Communicate with the appraiser via AppraisalPort
Benefits of GAAR 360°
- Easily review Fannie Mae, Freddie Mac, GAAR and Custom rule sets
- Quickly compare two reports to make certain that only the requested changes were made.
- Add rule firings or appraisal fields to your worksheet for follow-up review
- Easily note your findings and send them back into your CMS
- Enable users to review all appraisals pre-closing to help ensure well-documented
- Produce an instant report of “red flags” prior to manual review
GAAR 360° is configurable to your business requirements, helps to ensure regulatory compliance, and helps lenders to improve their appraisal review turn times. Learn more about how GAAR 360° can streamline your review processes today.
Collateral DNA
CollateralDNA™ (CDNA) is a suite of technology products that provide crucial insight lenders rely upon to make informed and accurate valuation decisions about property values.
CDNA products can examine the full history of a property, including sales and transactions, property characteristics, tax information, neighborhood homogeneity and conformity measures, and details on land use, price, and age.
Additionally, lenders use CDNA to:
- Rank comparables according to distance from a subject property, age of sale, or similar physical characteristics
- Plot preferred properties on maps
- Transfer property data directly to appraisal forms
- Track median sales prices from quarter to quarter
Title and Closing Solution
The CoreLogic Title and Closing Solution is an end-to-end workflow supported by multiple platforms that allows lenders and title vendors to more efficiently and securely manage and fulfill the title and closing requirements in an underwriting process, facilitates vendor communication and document transfer, encourages regulatory compliance, and ultimately enhances consumer experience.
The Title & Closing Solution supports retail origination (purchase and refinance), home equity, default servicing, and wholesale lending channels.
Lenders use the Title and Closing Solution to:
- Facilitate more efficient communication
- Encourage more organized workflows
- Track and securely transmit all title order details
- Automate vendor selection and allocation
- Replace phone calls, faxes, and e-mail with an organized platform
- Reduce the risk of wire fraud