CoreLogic introduced AutomatIQTM Collateral, a solution that will provide lenders with a comprehensive suite of data and analytics on property ownership, value, condition and hazards. By offering a single point of access to obtain crucial property underwriting data, AutomatIQ Collateral will streamline a lender’s workflow, allowing them to make faster decisions, accelerate transaction times and reduce risk throughout the loan origination process, CoreLogic announced in a press release.
It can takes weeks to request, evaluate, verify and process the property information needed to close a loan. AutomatIQ Collateral expedites this process, CoreLogic stated, by offering integrated solutions for:
- Valuation and property condition reports that leverage CoreLogic’s market-leading workflow platforms for appraisals, alternative valuations, automated valuation models, and price indices;
- Title and ownership information powered by a nationwide panel of title vendors, and delivered via a new, structured data standard for title commitments;
- Environmental hazard risk and results from the impacts of flood, wind, hail, earthquake, and fire events; and
- Unparalleled insights into the physical property characteristics, quality of construction, and other attributes that impact marketability and value.
“We’re dedicated to keeping lenders on the leading edge of the digital mortgage industry by offering workflow solutions that are tightly integrated with automation and analytics,” Vicki Chenault, an executive for Valuations Solutions Group at CoreLogic, said in the release. “With AutomatIQ Collateral, lenders will now be able to access essential property data through a single-source, empowering them to originate loans faster, at a lower cost and with less risk.”
AutomatIQ Collateral follows AutomatIQ Borrower as the latest offering within the AutomatIQTM suite of digital mortgage solutions from CoreLogic.