New Solution Digitizes, Standardizes and Automates Existing Borrower Underwriting Workflows—

CoreLogic Launches AutomatIQ Borrower to Streamline Underwriting Workflows, Reduce Lender Costs, and Increase Trust Throughout the Mortgage Supply Chain

CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced AutomatIQTM Borrower, phase one of a comprehensive new underwriting solution designed to help lenders streamline their current mortgage workflows by digitizing, standardizing and automating borrower analysis and verification. By pulling all of the disparate borrower verification tools together into one integrated solution delivered from one provider, AutomatIQ Borrower will help lenders:

  • Reduce underwriting costs and time to close
  • Improve overall loan quality and user experience
  • Increase trust at each step of the borrower underwriting workflow

“Despite some recent notable improvements in consumer-facing Point of Sale solutions, underwriters are essentially following the same manual processes that they’ve followed for years,” said Jay Kingsley, executive for Credit Solutions at CoreLogic. “Based on our industry-leading data resources and analytics expertise, CoreLogic is uniquely positioned to deliver this comprehensive digital underwriting solution that lenders need.”

Building off of FactCheck, the AutomatIQ Borrower solution standardizes income analysis with a comprehensive suite of consumer data and verification services. By eliminating time-consuming manual tasks and workflow redundancies while helping to enable lenders to conduct reliable borrower analysis sooner in the process, AutomatIQ Borrower helps increase underwriter productivity and overall loan quality while reducing origination costs and time.

“With regulatory changes, compliance requirements, competitive pressures and workflow complexity, it costs three-times more to originate a loan than it did 10 years ago – and it takes longer,” said Kingsley. “It’s about more than turning paper into data points. It’s about reimagining how a mortgage is manufactured and building confidence back into the underwriting ecosystem.  AutomatIQ Borrower is designed to do just that.”

AutomatIQ Borrower is the first offering from the new AutomatIQTM Suite of Digital Mortgage Solutions from CoreLogic. The AutomatIQ Suite is designed to help lenders digitize, streamline and automate each phase of their mortgage origination workflow.

AutomatIQ Borrower is available starting today.

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Source: CoreLogic Press Release