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Tag Archives: CoreLogic

CoreLogic CFO Resigns Amid SEC Investigation of Former Employer

CoreLogic's CFO, Anthony ""Buddy"" Piszel, resigned from his post last week after receiving a Wells notice from the Securities and Exchange Commission (SEC), indicating that the agency is considering filing civil charges against Piszel in connection with his role at former employer Freddie Mac. Piszel served as Freddie Mac's CFO from November 2006 to September 2008. The SEC is looking into certain disclosure matters during Piszel's tenure with the GSE.

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Industry Data Reveals Home Prices Ended 2010 Showing No Change

Two separate industry gauges released Tuesday indicate that despite the ups and downs seen in monthly reports on home prices over the last year, residential property values ended 2010 relatively unchanged from 2009 levels. Reports from both Integrated Asset Services and CoreLogic point to level ground over the 12-month period, although consecutive month-to-month declines were the dominant pattern during the latter part of the year without the homebuyer tax credit incentives.

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CoreLogic Launches Commercial Real Estate Evaluation Service

CoreLogic has introduced a new commercial property evaluation service that utilizes more than 7,500 real estate brokers and contract appraisers to provide commercial valuations for lenders, investors, and special servicers. CoreLogic says its system allows users to quickly determine the current market rent for properties more cost effectively than formal commercial real estate appraisals. The new service can deliver a valuation in 10 business days on average, and users can order and track valuations online 24/7.

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CoreLogic Home Price Index Shows Decline for Fourth Straight Month

CoreLogic released its November home price index Tuesday, which shows that home prices in the United States declined for the fourth month in a row. The company reported that national home prices, including distressed sales, fell by 5.07 percent in November 2010 when compared to November 2009. The rate of decline increased significantly in November, and CoreLogic says it's indicative of the uphill battle to achieve a housing recovery.

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CoreLogic Estimates $11B Lost to Mortgage Fraud in 2010

The research firm CoreLogic has released its official assessment of the monetary toll mortgage fraud has had on the industry in 2010. According to the CoreLogic Fraud Index, fraud losses for this year are estimated to be $11 billion. That figure is actually down from $14 billion in fraud losses during the 2009 calendar year. The company says while the probable rate of fraud has increased by 20 percent since last year due to higher risk government loan programs, actual fraud losses are lower because origination volume is down by 26 percent.

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CoreLogic’s AVMs Comply with New Federal Standards

CoreLogic says its automated valuation models (AVMs) can assist mortgage lenders in complying with the new federal standards on property valuations. The new standards were released December 2 by the five federal bank regulatory agencies, and emphasize the need for risk-focused appraisal reviews, rigorous AVM testing, enhanced documentation of property condition, and valuation updates during the life of the loan.

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CoreLogic Home Price Index Shows Decline for Third Straight Month

National home prices in October were down 3.93 percent from year-earlier levels, CoreLogic reported Thursday, marking the third month in a row the company's index has recorded an annual drop in residential property values. October's reading follows a 2.43 percent annual decline reported for the month of September and a 1.08 percent drop in August, signaling that the deterioration in home prices is getting progressively steeper with each passing month.

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CoreLogic Releases Product to Determine Borrowers’ Income

Analytics firm CoreLogic released Tuesday a real-time fraud assessment and income estimation tool designed to help users comply with recent federal mandates that require lenders to validate borrowers' ability to pay. The program aims to make it possible to confidently lend to people who have little or no credit history.

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Increase in Foreclosures Leaves Fewer Borrowers Underwater: CoreLogic

The research firm CoreLogic says the share of mortgage borrowers who owed more on the loan than their home was worth shrank during the third quarter. But analysts say the news is hardly encouraging since the decline is being attributed to a rise in foreclosures rather than a rise in home prices. CoreLogic reports 10.8 million, or 22.5 percent, of all residential properties with mortgages were in negative equity at the end of Q3, down from 11.0 million, or 23 percent, three months earlier.

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CoreLogic Credco Product Helps Lenders Avert Loan Repurchases

CoreLogic Credco recently introduced FinalCheck, an automated, fully ""decisionable"" suite of prefunding risk evaluation products that instantly verify credit, application, and fraud data in an easy-to-read report for lenders. The company says FinalCheck is designed to help lenders satisfy GSE requirements, reduce repurchase risk, and increase loan delivery confidence.

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