Magazine article Mortgage Banking

Impac Integrates CoreLogic Risk-Assessment Tools

Magazine article Mortgage Banking

Impac Integrates CoreLogic Risk-Assessment Tools

Article excerpt

Irvine, California-based Impac Mortgage Holdings Inc. announced it has integrated Santa Ana, California-based First American CoreLogic's LoanSafe Risk Decision System[TM] (LoanSafe RDS) collateral risk-assessment tool and IncomePro[TM] income-authentication tool into Impac's proprietary Web-based automated underwriting engine--Impac Direct Access System for Lending (iDASL).

The LoanSafe and IncomePro tools were tested on a three-year wholesale platform history before their implementation. The company said the successful test has allowed Impac to better manage the layered risk in alternative-A residential mortgage lending, especially when high loan-to-value ratios, identity risk, fraud and property flipping are present in stated-income-type loans.

Since late 2006, Impac's wholesale subsidiary has been using these tools to assess property, borrower, third-party broker/correspondent and stated-income risk. The addition of these new tools may also enable Impac to provide more information about the loans in its securitizations for investors, according to Andy Chawla, senior vice president of enterprise risk management for Impac Funding Corporation--a subsidiary of Impac Mortgage Holdings, also based in Irvine. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.