CoreLogic Upgrades Its OnSite Product With Increased QC – NMP Skip to main content

CoreLogic Upgrades Its OnSite Product With Increased QC

NationalMortgageProfessional.com
Aug 14, 2012

CoreLogic has announced the introduction of OnSite Plus, a property condition report that provides an overall condition rating constructed on a patent-pending algorithm and based on an inspection by a licensed real estate professional. Like the existing OnSite report, OnSite Plus incorporates local market conditions into a single property condition report that includes a professional physical inspection and quality control (QC) process to help ensure an accurate report. OnSite Plus is designed to be used with an automated valuation model (AVM) report to generate an evaluation consistent with the Interagency Appraisal and Evaluation Guidelines issued in December 2010. “We have had over 50 top lenders and servicers adopt and now rely on OnSite from CoreLogic to create an evaluation that supports decision making on home equity loans, refinancings and loan modifications,” said Susan Allen, vice president of strategic relations at CoreLogic. “While our customers tell us they save millions of dollars by using OnSite-based evaluations, performed by credentialed inspectors, some expressed a preference for inspections performed by licensed real-estate professionals. We listened and responded with OnSite Plus, which leverages all the preferred features of OnSite with the added benefit of inspections performed by licensed real-estate professionals.” OnSite Plus evaluates the condition of the property relative to other properties in the neighborhood and includes positive and negative external factors observed adjacent to or within the immediate neighborhood, as well as photos and comment fields for as-needed explanations, and contains local market assessments based on CoreLogic property and listing databases. The report provides an overall condition rating based on a patent-pending method designed to increase consistency of results and align the condition report with assumptions made by automated valuation models. To ensure the highest quality standards, OnSite Plus includes a post-inspection quality assurance process. OnSite Plus can be bundled with CoreLogic industry-leading AVMs, AVM cascades, or ordered on a standalone basis.
Published
Aug 14, 2012
CFPB Seeks Insight On Creating A Fairer Mortgage Market

The Consumer Financial Protection Bureau has been actively looking to create a fairer mortgage market, free of discriminatory engagements. To do so, it issued a Request for Information to seek input on rules implementing the Home Mortgage Disclosure Act.

Regulation and Compliance
Nov 17, 2021
Regulators Renew Effort to Protect Against Foreclosures

CFPB, The Fed, FDIC and other agencies will watch for compliance with COVID-19 protections

Regulation and Compliance
Nov 10, 2021
Fed To Begin Tapering Asset Purchases by 14.3% This Month

Also sets target range for the federal funds rate at 0 to 1/4%.

Regulation and Compliance
Nov 03, 2021
CFPB Cracks Down On Discriminatory Credit Reporting For Black And Hispanic Consumers

Consumers in majority Black and Hispanic neighborhoods are far more likely to have disputes appear on their credit reports. 

Regulation and Compliance
Nov 03, 2021
CFPB Names 2 New Assistant Directors

Former Obama Administration officials will lead Supervision Policy, Enforcement divisions.

Regulation and Compliance
Oct 29, 2021
FHFA Proposes Extra Disclosure Rules For Fannie, Freddie

The proposed rule for the Enterprise Regulatory Capital Framework seeks to put Enterprises on a "level playing field" with U.S. banking requirements.

Regulation and Compliance
Oct 28, 2021