CoreLogic has launched a new home loan analytics portfolio, merging portfolio and property data to assist lenders operating in changing market conditions.
According to CoreLogic Executive Head of Data, Analytics and Solutions, Tracey Ah Hee, this analysis solution will help lenders to identify portfolio blind spots.
“We match a lender’s existing portfolio data to property-specific data to provide a customer-level data treatment.
“Lenders can easily see key areas for focus, which is important within such a rapidly changing environment.
“It ensures lenders can easily identify [issues] such as – what the dollar value of portfolio properties on the market is, how much of the portfolio is derived from rental income and what is their percentage exposure to postcodes or developments of interest.”
Ms Ah Hee added that the analysis will provide lenders with a number of credit and risk tools, such as identification of inaccurate or fraudulent information about income from rental properties on loan applications.
The analysis can be used to support customer engagement by providing customers with a benchmark for rental income calculations.
Ms Ah Hee stated that it will also enable a better assessment of the business rental book and the risk position based on the number of investors in the portfolio.
She also praised the benefit the portfolio will bring to marketing teams who, she predicts, will appreciate the powerful insight of recognising and being alerted to possible attrition.
“Selling, buying, moving and renovating clearly influence home loan refinance or bank switching, so understanding the property sales and listings activities of actual customers is critical.
“Basically, this data allows lenders to proactively support the big financial decisions being taken by their customers, before they walk out the door,” she continued.
“Insight into a customer’s actual equity position can identify opportunities for growth or, on the
flipside, situations where proactive support may be required.”