Property information and analytics provider CoreLogic is offering a new Web-based application it says can help loan servicers streamline loan modifications.

CoreLogic’s IntelliMods application includes parameters and automated decision-making tools for Fannie Mae and Freddie Mac loan mods, as well as the Home Affordable Modification Program (HAMP). Loan servicers can also build decisioning tools for their own proprietary loan modification programs.

IntelliMods eliminates the process of manual calculations and allows loan servicers to process single loans or batch upload hundreds at a time, CoreLogic said. User select a modification profile — a term extension, rate or principal reduction — and the application runs the loan or loans through the selected "cascade," or automated process, delivering a decision within seconds. A complete audit trail is created for each decision.

"Although servicers offered more than 1.7 million HAMP trial modifications in 2010, there are still millions of loans more than 90 days delinquent," said Scott Brinkley, CoreLogic senior vice president of Outsourcing and Technology Solutions, in a statement.

"As regulatory pressures and ‘Second Look’ reviews continue to increase, there is still a significant need to speed the loan modification process and an even greater need to provide auditable, defensible" processes.

Formerly the information solutions group of The First American Corporation, CoreLogic was spun off as an independent company last year. Headquartered in Santa Ana, Calif., CoreLogic has more than 10,000 employees globally with 2010 revenues of $1.6 billion.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription