CoreLogic Expands Tenant Screening Services For "Small Landlord" Market – NMP Skip to main content

CoreLogic Expands Tenant Screening Services For "Small Landlord" Market

NationalMortgageProfessional.com
Apr 02, 2014

CoreLogic announced the expansion of its tenant screening services to deliver enhanced data for rental applicant screenings for single-family rentals and the “small-landlord” market. The expansion of services, offered through myrental.com, leverages the vast CoreLogic public record and proprietary databases to provide unique applicant data for landlords to assess applicant risk and identify those renters who are most likely to fulfill their lease obligations.    The myrental.com expansion offers a first-of-its-kind comparison of tenant scores within geographic areas so that landlords can evaluate applicant risk relative to other applicants in the same region. The comparison also provides accept/decline rates for specific tenant scores within the same geographic area so that landlords can make decisions based on relative rental activity. This is particularly useful for independent landlords who may lack access to data and analytics capabilities to assess risk. “It’s important that as market needs shift, we respond to accommodate the changing dynamics of the landlord market,” said Pam Storm, senior vice president, CoreLogic Specialty Credit. “The growth in the single-family rental market has created a new kind of landlord for whom risk assessment is just as important as for large, multifamily apartment communities. Using data and analytics to make smarter, more informed leasing decisions makes sense for every property owner and manager. Thousands of dollars are at stake. By providing industry-unique analytics tools, and other more targeted data, landlords of any size can manage risk effectively and efficiently.” The expanded tenant screening services and enhanced applicant risk score will provide landlords with: ►Individual credit scores using “credit push” technology that allows applicants to provide quick online approval for landlords to access their credit report.  This saves time and money since no site visit is required. ►Historical data on applicant activity, prior lease obligation performance and previous evictions, going back seven years. ►Accept and decline rates among other landlords in the same geographic area and comparison tenant scores in order to compare applicants who share the same risk profiles. ►Automatic and guaranteed acceptance for renters insurance, through third-party underwriters, for qualifying applicants through rentersinsuranceselect.com. ►Criminal background checks.
Published
Apr 02, 2014