Tag Archives: Tower Group

CoreLogic, a provider of information, analytics, and business services, now helps regulated financial institutions meet the federal Interagency Appraisal and Evaluation Guidelines for lending decisions via its new property condition report. The company's new product, OnSite, covers 98.7 percent of parcels in the country, contains local market conditions, and complements automated valuation model (AVM) reports.

With millions falling behind on their mortgage payments and declining property values eating away at home equity, short sales are increasingly being looked to as an alternative to foreclosure. CoreLogic says the number of short sales has tripled in the last two years, and they're expected to increase another 25 percent in 2011. Such growth, though, can open the gate for fraudulent activity. CoreLogic estimates lenders, servicers, and investors may incur potential losses in excess of $375 million this year from ""suspicious"" short sales.

FICO announced this week that its newest credit scoring product, the FICO 8 Mortgage Score, is now available from all three major U.S. credit reporting agencies. The FICO 8 Mortgage Score was built specifically to help mortgage lenders better predict mortgage performance and improve credit decisions for both current and prospective homeowners. The company says it will allow lenders to employ a more precise risk assessment tailored for today's real estate market in order to reduce the likelihood of default.