S&P Approves CoreLogic as a Third-Party Due Diligence Provider for RMBS – NMP Skip to main content

S&P Approves CoreLogic as a Third-Party Due Diligence Provider for RMBS

NationalMortgageProfessional.com
Apr 17, 2012

CoreLogic, a provider of information, analytics and business services, has announced that Standard & Poor’s (S&P) has approved it as a third-party due diligence provider for residential mortgage backed securities (RMBS) rated by that agency. CoreLogic Due Diligence performs a full-range of diligence services for residential mortgages and small balance commercial loans, including forensic due diligence, non-performing loan reviews, acquisition and securitization reviews, data integrity reviews and quality control (QC). The group is working with a growing number of issuers, originators and investors on pre-securitization and loan quality projects. It also provides underwriting support to press or defend buy-back claims. Mark Hughes, a CoreLogic vice president and 25-year veteran of the mortgage securities industry, heads the due diligence business which operates two underwriting centers in Jacksonville and Sunrise, Fla. “To attract investors back to private-label mortgage securities, issuers must deliver greater transparency and demonstrate that they have employed the best available tools to identify and reduce risk,” said Hughes. “CoreLogic is already a major provider of the diligence, valuation and fraud detection services that many lenders and investors use. With our S&P approval we will now offer unique data-enhanced diligence/underwriting solutions to identify forensic issues, value portfolios and help originate securitizable loans. As private-label mortgage securities issuance returns, we will be there to provide the ‘new diligence’ that all market participants will demand.”
Published
Apr 17, 2012
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