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P R E S S   R E L E A S E


CoreLogic Mortgage Fraud Consortium Database Passes 100-Million-Loan Threshold
—Extensive Industry database helps U.S. mortgage lenders reduce fraud—


IRVINE, Calif. – (Dec. 2, 2013) CoreLogic® (NYSE: CLGX), a leading residential property information, analytics and services provider, today announced the company's proprietary Mortgage Fraud Consortium database passed the 100-million-loan application landmark. Unique to the industry, the database consists of loan-level application and fraud-outcome data contributed by members of the CoreLogic Mortgage Fraud Consortium in return for aggregated information used to help detect and prevent mortgage fraud.

Launched in 2009, the CoreLogic Mortgage Fraud Consortium brings industry leaders together to enhance understanding of current and emerging fraud trends in the loan origination cycle. CoreLogic uses the data gathered from the now more than 100 million loan applications to generate predictive fraud models, develop industry- and lender-level benchmarking standards, and to identify common fraud characteristics and adaptations in schemes. According to the latest CoreLogic Mortgage Fraud Report, the findings of which are mined directly from the consortium database, fraud risk among U.S. mortgage applications declined 5.6 percent year over year in the second quarter of 2013, with fraudulent residential mortgage loan applications totaling an estimated $5.3 billion nationally.

"As mortgage fraud patterns adapt and evolve, the collaborative environment of our consortium allows members to gain a broader understanding of what's driving the latest schemes," said Susan Allen, vice president of product management for CoreLogic. "The 100 million loan applications now included in the mortgage fraud consortium database further expand our ability to identify trends in specific fraud conditions, such as owner occupancy, short sale fraud and undisclosed debt."

The CoreLogic Mortgage Fraud Consortium data helps power the LoanSafe® product suite and enables alerts which help members ensure all mortgage liabilities are disclosed, which can support regulatory compliance. With access to data that validates the existence of mortgage debts, lenders are better able to strengthen compliance efforts associated with the Qualified Mortgage (QM) and Ability to Repay rules, as well as adherence to investor quality control expectations.

CoreLogic Mortgage Fraud Consortium members represent nearly 80 percent of U.S. residential mortgage activity. Fourteen of the top 20 residential lenders in the country contribute data to and participate in the CoreLogic Mortgage Fraud Consortium.

For more information about the CoreLogic fraud consortium database visit:
http://www.corelogic.com/landing-pages/corelogic-consortiums.aspx#container-FraudConsortium

To view the latest CoreLogic Mortgage Fraud Report, visit: http://www.corelogic.com/about-us/researchtrends/corelogic-mortgage-fraud-report.aspx.

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The company's combined data from public, contributory and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visit www.corelogic.com.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.


Source: CoreLogic

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