Irvine, California-based CoreLogic®, announced the launch of PanoramIQ™, an intelligent property solution that the company says will delivers a more complete view of property data with more current and reliable sources than public-record data alone. Utilizing a combination of public and proprietary property datasets, a unique property ID, machine learning and advanced analytics, PanoramIQ provides lenders, mortgage industry professionals, and government entities with deeper, more accurate, and complete property insights, allowing clients to make better decisions in a timely and efficient manner.
“PanoramIQ brings a more complete and reliable source of property intelligence that fills gaps found in the traditional outdated systems. Based on an unmatched breadth of property information sources and sophisticated logic, CoreLogic is uniquely positioned to identify the most accurate sources of property data so clients have a more complete view of a property,” said Shaleen Khatod, Executive, Data, and Advisory Solutions at CoreLogic. “As mortgage and refinance volumes continue to decrease, it’s important for those in the mortgage industry to have instant and reliable information on a property so they can identify high-quality leads and make timely and competitive underwriting decisions.”
According to CoreLogic research, 27 percent of property records nationally have gaps within public-record data. Additionally, 18 percent of property records nationally have data attributes that CoreLogic identifies as more accurate than public record alone. Unlike sources such as tax assessor information, which are typically updated annually, PanoramIQ relies on a variety of proprietary information sources to provide more up-to-date reports. PanoramIQ uses artificial intelligence to scan multiple sources of data, link the data to a unique property ID, analyze, and interpret changes and updates and uses advanced analytics to identify the most reliable information. This extensive process enables PanoramIQ to be a more complete, current and compliant view of property data.
“When information on a property isn’t reported accurately, it can have costly effects for those involved in the process. For those responsible for mortgage portfolios, an error in data reporting can lead to poor lending decisions or missed opportunities,” said Sherrie Clevenger, Principal, Product Management at CoreLogic.“PanoramIQ is designed to turn data points into sales, change how property data is analyzed and improve decision making. It’s about changing the way property data is analyzed, so we can help lessen the amount of errors and build trust back into the system.”
For more information on PanoramIQ, click here.