CoreLogic Technology Aides Disaster Recovery

Sacramento-based CoreLogic has adapted its HistoryPro application to help speed up insurance claims posted by victims of Katrina and Rita.In recent months, Gulf Coast homeowners have filed some 239,000 flood insurance claims from hurricanes Katrina and Rita, and the estimated $23 billion that is to be paid through the National Flood Insurance Program greatly exceeds its yearly premium collections of $2 billion. Faced with this situation, mortgage lenders needed a unified approach to gathering data to access their loan reserves and respond to the Housing Policy Council’s need for data. In response, CoreLogic, a provider of mortgage risk assessment and fraud prevention solutions, has developed a program that analyzes the appropriate data and displays it visually utilizing geographic information systems. Lenders provide property address information for potentially impacted properties, which is then run through CoreLogic’s HistoryPro collateral evaluation tool. The data stream is geographically coded from there to create an exact location on a map and overlay any known boundary condition such as FEMA disaster zones, flood levels, storm surge, etc. and is returned by CoreLogic to the lender and the HPC. The company can be found on the Web at http://www.corelogic.com.