CoreLogic began integrating AI into solutions more than 20 years ago with automated valuation models. Over the years, our technology and its features and functionalities have evolved along with the field of AI. Our CoreAI™ technology, in its various forms, has enabled mortgage professionals to perform their work more efficiently and accurately. With our CoreAI™ technology, all members of the mortgage supply chain have achieved higher-quality results than traditional methods would have allowed.
Artificial intelligence functionalities within CoreLogic’s differentiating solution set include:
CoreLogic Integrated Property (CLIP®) number
Every property in our national ecosystem is assigned a CoreLogic Integrated Property (CLIP®) number. This unique identifier uses artificial intelligence (AI) to link all instances of that property across our data sets. By linking records, CLIP delivers an accurate view of any property, even ones that have yet to enter tax-roll records. CLIP’s data connectivity creates, enriches, and enhances property data aggregation, delivering more high-quality and valuable details than any single data set.
CoreLogic Loan Origination
AI is crucial to allow lenders to better verify the appropriateness of a loan by streamlining mortgage processing and underwriting. CoreLogic’s AI solutions, such as Fraud Risk Score and Income Analysis, automate the collection and verification of financial information, allowing lenders to evaluate an applicant's financial status quickly and accurately.
CoreLogic’s Collateral Solutions
CoreLogic's Collateral Solutions epitomizes the cutting-edge application of artificial intelligence (AI) in property valuation and risk management. In an industry where precision and reliability are paramount, these solutions offer a beacon of innovation designed to streamline the underwriting process and enhance the accuracy of collateral evaluations. Let's delve deeper into the three pivotal levels of AI-driven risk mitigation that CoreLogic provides, painting a picture of a future where mortgage processing is faster and more secure.
CoreLogic Risk Management Solutions
As climate change continues to reshape our world, it's crucial that we adapt. This includes understanding and incorporating environmental, social, and governance (ESG) factors into our decision-making processes. For government agencies and corporations, this understanding is not just beneficial but a necessity. It's the key to measuring and mitigating the physical risks of climate change to our properties, and it's a responsibility we must not ignore.
CoreLogic Case-Shiller® Index Forecasts
The CoreLogic Case-Shiller® Index Forecasts are a vital tool designed to predict future trends in home prices across the United States. Utilizing a blend of advanced statistical techniques and economic data, these forecasts provide insight into the prospective movements of the housing market, helping investors, policymakers, and consumers make informed decisions. This predictive model is a key reference for understanding potential real estate dynamics and planning strategically in an ever-changing economic environment.
CoreLogic Market Risk Indicator
The CoreLogic Market Risk Indicator is a sophisticated analytical tool designed to evaluate the probability of price changes in the housing market. It employs a multi-phase regression model to generate a probability score, ranging from 1 to 100, which assesses the likelihood of two different scenarios in metro areas: a price reduction greater than 10% and a price reduction less than or equal to 10%. This scoring system helps users gauge the risk of a price reduction in the targeted areas, providing essential insights for decision-making processes related to property investments and risk management
CoreLogic HPI™
The CoreLogic HPI™ (Home Price Index) is built on industry-leading public record, servicing, and securities real-estate databases and incorporates more than 40 years of repeat-sales transactions for analyzing home price trends. The CoreLogic HPI is designed to provide an early indication of home price trends by market segment. The “Single-Family Combined” tier represents the most comprehensive set of properties, including all sales for single-family attached and single-family detached properties. The indices are fully revised with each release, and techniques are employed to signal turning points sooner. The CoreLogic HPI measures multiple market segments, referred to as tiers, based on property type, price, the time between sales, loan type (conforming vs. non-conforming), and distressed sales. Broad national coverage, including non-disclosure states, is available from the national level to the ZIP Code.
Conclusion
CoreLogic's integration of CoreAI™ across its platforms has significantly revolutionized the mortgage technology landscape. By continuously adapting and enhancing AI solutions, CoreLogic has been pivotal in transforming how mortgage professionals’ approach and execute their roles, leading to more efficient, accurate, and reliable processes. From valuation models and lead generation to risk management and fraud detection, the company’s comprehensive utilization of AI-driven technologies ensures that every facet of the mortgage cycle is optimized for superior performance and customer satisfaction.
Innovative solutions like the CoreLogic Integrated Property (CLIP™) number, Precision Marketing, and AutomatIQ Borrower, among others, exemplify how AI can bridge the gap between vast data storage and practical, actionable insights. Moreover, the robust LoanSafe Fraud Manager and resilient Climate Risk Analytics highlight CoreLogic’s commitment to safeguarding and advancing industry standards.
As the data-driven landscape continues to evolve, CoreLogic's dedication to embracing sophisticated AI technologies and their strategic implementation places them at the forefront of the Protech industry. This ensures the enhancement of current mortgage processes and prepares the framework for future innovations, securing a leading edge in a highly competitive market. Through CoreLogic’s CoreAI™ enabled solutions, mortgage professionals are better equipped than ever to meet the needs of a dynamic market, fostering trust, reliability, and excellence in all aspects of real estate and mortgage services.
