CoreLogic, a Sacramento, Calif.-based provider of mortgage risk assessment and fraud prevention systems, has released findings from its broker management database indicating that 7% of brokers account for 63% of early payment defaults, with the riskiest 0.5% of brokers accounting for 70% of all losses.CoreLogic said its broker database tracks more than 38 million loans and 190,000 brokers and is the engine powering ThirdParty Scorecard, a Web-based software tool that helps residential mortgage lenders evaluate and manage the risk associated with their broker network. The most recent statistics illustrate the key role brokers play in the risk management chain and why broker monitoring and management tools are critical to the financial prospects of wholesale originators, the company said. Core Logic made the announcement at the Mortgage Bankers Association's 93rd Annual Conference & Expo in Chicago. The company can be found on the Web at http://www.corelogic.com.
-
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
19m ago -
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
3h ago -
Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
April 17 -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
April 17 -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
April 17 -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17