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CoreLogic launches mortgage portfolio analytics tool

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Reporter 5 minute read

The property data and analytics provider has announced the launch of a new tool designed to help lenders identify “blind spots” in a home loan portfolio.

CoreLogic Australia has launched a new Home Loan Portfolio Analysis solution that “matches a lender’s existing portfolio data to property-specific data to provide a customer-level data treatment”, helping identify “blind spots” in their home loan portfolio.

The company’s head of data, analytics and solutions, Tracey Ah Hee, said: “It ensures lenders can easily identify such as what the dollar value of portfolio properties on the market is, how much of the portfolio is derived from rental income, and what is their percentage exposure to postcodes or developments of interest.”

There are a number of credit and risk tools built into the solution that can, for example, detect inaccurate or fraudulent information about income from rental properties on loan applications, while also providing customers with a benchmark for rental income calculations.

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The Home Loan Portfolio Analysis solution also provides an “at-a-glance visual key metrics summary” for mortgage and non-mortgage portfolios, including negative equity positions, property activity and weak suburb outlook scores.

It additionally allows for better assessment of the business rental book, which borrowers have high exposure, and the risk position based on the number of investors in the portfolio, CoreLogic said.

“Selling, buying, moving and renovating clearly influence home loan refinance or bank switching, so understanding the property sales and listings activities of actual customers is critical. Basically, this data allows lenders to proactively support the big financial decisions being taken by their customers, before they walk out the door,” Ms Hee said.

“Insight into a customer’s actual equity position can identify opportunities for growth or, on the flip side, situations where proactive support may be required.”

The launch of the Home Loan Portfolio Analysis solution follows an announcement made by CoreLogic late March that it would soon be rolling out an upgraded version of its Property Hub platform, which enables the ordering, management and tracking of valuations.

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Property Hub 2.0 aims to digitise the mortgage approval process, “transforming it from a reactive interaction into a seamless and personalised journey for applicants – whilst delivering new levels of transparency and efficiency for brokers and lenders too”.

The updated hub will reportedly come with a new suite of valuation fulfilment capabilities (ValConnect) and is expected to have “a significant pipeline of investment in innovation and partnerships through 2019”.

It will additionally include automatic monitoring and alerts for any subsequent activity on property, such as listings.

Aiming to “transform the way lenders and brokers interact with their customers,” the hub will also support brokers with a marketplace of lenders from which to order and track all valuations.

[Related: Housing market plagued by ‘uncertainties’ as downturn continues]

CoreLogic launches mortgage portfolio analytics tool
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