Banking and Finance

CoreLogic can help you manage the risks involved with mortgage applications, valuations and portfolio management, acquire new customers and identify existing customers transacting on their property to improve retention. Our range of solutions will enhance the knowledge your team has about the market and assist to execute best practice mortgage origination and client engagement.

6 ways CoreLogic can help banking and finance
  1. Streamline the lending process - access a range of valuation solutions and services to streamline your lending process from loan origination through to collections, arrears and policy development.
  2. Improved understanding of current LVR - determine the estimated value of dwellings to get a better understanding of current LVR within your mortgage portfolio.
  3. Reduce Fraud - identify and reduce fraudulent activity by identifying misrepresentation in mortgage applications.
  4. Mitigate risk - improved risk mitigation and capital management capability.
  5. Understand consumer behaviour - business intelligence services to help understand and anticipate consumer behaviour which drives acquisition strategy and retention.
  6. Improve customer retention - increase customer retention by knowing when a customer’s property is listed for sale and having a conversation at the right time.

Relevant Products

Frequently Asked Questions

How can CoreLogic help my business make cost savings?

CoreLogic can assist banking and finance industries with the introduction of straight-through processing. Time and cost is saved in the mortgage application process through selection and use of appropriate valuation products and through better identification of the applications that require further investigation, allowing the majority of applications to be processed more efficiently.

How can CoreLogic products and data help my business manage risk?

CoreLogic are the global experts in the collection and application of property data and using this information we constantly track movements in individual house prices and changes in all parts of the country.

Through having an in depth understanding of how the countries housing stock is moving, observing changes in valuation volumes and trends and by understanding property characteristics, we can continuously and accurately measure house prices changes at a region (using industry leading indices) or even individual property level (using our Automated Valuation Models). When working together with our customers, and industry partners, we are able to estimate changes to property prices over time and/or under stressed market conditions and therefore can help banks make effect lending decisions, appropriate collections strategies and/or manage their portfolio.

We can also highlight how markets are moving and provide lenders with early warning indicators of property exposure risk.

We are also able to flag potential concerns around application misrepresentation using our LoanSafe © solution. 
 

How is the value of a home determined?

There are several ways of determining a property’s value and often different techniques are combined to provide the most balanced view. Where the property is located is a key indication of value and often a valuation will consider the value of the land and the property separately. Location is influenced by a large number of factors including local facilities, location to city centres, access to public transport, school zones etc.

Recent sales, either of the property itself or of similar, nearby properties will also be important, as will property characteristics such as size, number of bedrooms, bathrooms or car spaces.

When an inspection is undertaken, the valuer will also consider the current condition and quality of the buildings construction and whether there is opportunity for redevelopment.
 

How does CoreLogic build models to estimate property values?

CoreLogic can estimate house values based on sales of property in the building (if it is a unit), the street the area and/or the previous sales price of the property, taking into account house price changes in the area since the last sale date.

It does this through understanding the characteristics of the property and then looking through the millions of data points that CoreLogic has about properties which have previously been sold in the local area, to identify similar properties.

Sophisticated algorithms match the data to the property in question taking into consideration data differences and variations over time, to produce an estimate of the property’s sale value at that point in time.

All such estimates come with an associated level of accuracy, referred to as forecast standard deviation (FSD), which measures how likely the value will be close to the subsequent sale value.
 

What data/products/services do Corelogic offer to help with this?

We offer a range of valuation tools; including automated valuation model (AVMs). We also support the identification of application misrepresentation through our LoanSafe © product.

In addition, we offer consultancy advice around how to best use all such products and services to meet any companies specific business objectives.

What controls and processes are in place to ensure objectivity and independence?

Our automated models are reproduced every month based on the latest information which we receive, validate and load onto our databases every day. These models are extensively monitored and reports produced every month to understand the availability, distribution and overall performance.