Magazine article Mortgage Banking

CoreLogic Offers New Loan-Modification Decisioning Platform

Magazine article Mortgage Banking

CoreLogic Offers New Loan-Modification Decisioning Platform

Article excerpt

CoreLogic, Santa Ana, California, a provider of information, analytics and business services, today announced the availability of WillCap, a decisioning system that predicts a distressed borrower's willingness and capacity to make mortgage payments and enable investors and servicers to make more strategic loan modification, short sales and liquidation decisions, at both a loan and portfolio level.

WillCap is driven by innovative behavioral technology that is proprietary to CoreLogic. The technology was developed using CoreLogic data and talent resources to create a solution that combines consumer credit, property information, loan product information and in-depth local real estate market information at the borrower level across a multimillion-borrower database, according to CoreLogic.

"WillCap's behavioral technology provides deep insights into the drivers of borrower behavior that gives the user an information-rich, holistic view of the borrower and their individual circumstance. Using Will-Cap, a holder of distressed mortgages can craft loan treatment strategies to maximize both loan value and borrower retention," stated a CoreLogic press release.

WillCap, which is already in use at several leading institutions, has a wide range of uses, including distressed loan treatment, loan surveillance, loss forecasting and portfolio-level loan treatment strategy development.

In its Treatment Engine application, WillCap delivers an operational treatment recommendation that has been proven through actual use to lower losses and redefault rates, according to CoreLogic. Through rich analysis of consumer credit data and the effects of collateral characteristics on borrowers' decisions, WillCap provides a greater degree of confidence in implementing the proper loan treatment, based on a borrower's likely future behavior, to maximize servicing and portfolio asset value and/or increase borrower retention and satisfaction. …

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