Skip to main content

CoreLogic Announces HARP 2.0 Refi Data Services

NationalMortgageProfessional.com
Mar 26, 2012

CoreLogic has announced a new service designed to help originators identify potential Home Affordable Refinance Program 2.0 (HARP 2.0) refinance prospects. The HARP 2.0 program was introduced in late 2011 to assist qualified underwater homeowners in refinancing their mortgages. CoreLogic leverages a proprietary database, patented valuation technologies, comprehensive lien information and new patent-pending analytics to identify more than 2.3 million borrowers with a ‘strong likelihood’ of potential eligibility for refinancing through the HARP 2.0 program. “The new HARP 2.0 guidelines provide a great opportunity for homeowners with negative equity who were previously unable to take advantage of historically low interest rates and refinance their existing mortgages,” said Anand Nallathambi, president and chief executive officer of CoreLogic. “It may not be clear to homeowners how HARP 2.0 eligibility requirements apply in their circumstance. CoreLogic is uniquely positioned to help mortgage originators identify qualified homeowners who are highly likely to be eligible for the HARP program. This will allow the originators to focus their educational and sales efforts on homeowners who will likely be motivated to refinance.” Using a specific list of eligibility criteria, database filters and derivation techniques are used to identify potential HARP 2.0 eligible loans. The loan-to-value (LTV) ratio information is calculated using industry-leading CoreLogic automated valuation models (AVMs). In addition, to ensure the most up-to-date information is available, CoreLogic re-evaluates its HARP 2.0 eligibility database with refreshed data monthly, providing originators access to updated and/or new leads in either single prospect or batch forms. “By utilizing CoreLogic proprietary databases and analytics teams, we can provide a targeted and customized list of very high probability HARP 2.0 refinance-eligible candidates,” said Dianna Serio, chief data officer for CoreLogic. “Our ability to provide specific homeowner data, highly accurate loan-to-value estimates, identification of lenders, current owner occupancy status, and liens associated with a property can be especially helpful to originators looking to build or defend their current portfolio.” The CoreLogic HARP 2.0 lead-list service can include the following lead information, as well as further customized data based on specific needs: ►Borrower name(s) ►Full property address ►Property type ►Remaining term (amortization estimate) ►Owner occupancy (at time of origination) ►Mortgage origination date(s) ►Mortgage origination amount(s) ►Mortgage amortized origination amount(s) ►Mortgage lender names(s) ►Mortgage rate type(s) ►Mortgage term(s) ►Mortgage interest rate(s) ►Loan-to-value (LTV) ratio ►Combined loan-to-value (LTV) ratio ►Current servicer
Published
Mar 26, 2012
Williston Financial Group, Doma Strike Deal

WFG is set to acquire Doma’s title operations, including operation centers in the Northern and Central California.

May 24, 2023
Mat Ishbia Takes A Charge At NBA Playoff Game

UWM CEO and majority owner of the Phoenix Suns involved in scuffle with Denver center Nikola Jokic

May 08, 2023
The Pitfalls Of Cash-Out Refinancing In A Rising Interest Rate Environment

Second-lien home equity loans are a far better way to take out cash

May 02, 2023
NEW YORK: How To Conquer - Not Fear - The Empire State

Roadblocks are many but payoff is worth it

May 01, 2023
RCN Capital Opens LA Office

Expansion marks lender's continued success.

Apr 26, 2023
Trigger Lead Legislation Renews Debate Over Consumer Choice

Borrowers can protect themselves from unsolicited lenders, but they could be doing themselves a disfavor

Apr 20, 2023