Headquartered in Irvine, Calif., CoreLogic is perhaps best known in the real estate and mortgage industries where it maintains the nation’s largest and most comprehensive real estate, mortgage application, fraud, and loan performance databases. “CoreLogic databases encompass more than 3.5 billion property and financial records, including data on 99.7 percent of the U.S. residential properties,” said Greenberg.
However, it is the CoreLogic® Credco® business that leads the automotive dealer vertical as the number one provider of merged and specialty credit reports and verification services. CoreLogic Credco products and services are integrated on over 50 dealer management systems and lending platforms, the systems that dealers utilize to manage their businesses day-to-day. “We have made a strategic commitment to be plugged-in everywhere our clients do their work,” said Greenberg. “In fact, over the years we have become synonymous with the term credit report among automotive dealers. Many simply ask if someone has ‘ordered a Credco’ instead of “a credit report.”
In addition to traditional credit reports and credit risk scores, the company also provides dealers with accurate, timely and predictive compliance and verification services. For instance, their Office of Foreign Assets Control (OFAC) screening solution automatically screens consumers against the OFAC list of terrorists, drug traffickers and money launderers, and delivers the results with each credit report. The company’s Red Flag Solution helps dealers implement an identity theft prevention program to protect their reputations and their clients’.
We have become synonymous with the term credit report among automotive dealers. Many simply ask if someone has ‘ordered a Credco’ instead of ‘a credit report’
“Optionally available with every credit report, our identity verification services provide a three-digit numeric score that indicates the level of risk associated with a given borrower’s stated identity,” explains Greenberg. CoreLogic Credco also offers an innovative new credit report called CreditIQ that combines the company’s vast non-traditional credit data with the traditional information supplied by the three credit bureaus to help dealers avoid previously hidden risks while uncovering new lending opportunities.
Given the ongoing evolution and uncertainty in the industry’s regulatory environment, CoreLogic has made significant and ongoing investments in systems, people, and data in order to maintain compliance, enhance quality, and achieve and excellence. The company’s strategic relationship with the technology firm, Pivotal, embodies this philosophy and their long-term plans to transform their software development capabilities and their enterprise cloud-based platforms. At the CoreLogic Innovation Labs, Pivotal’s Platform as a Service (PaaS) product, Pivotal CloudFoundry, in conjunction with the in-house expert development team creates innovative solutions and data insights. “With 33 patents and 69 patent applications filed globally, we are focused on our ability to turn mountains of data into valuable business insights and actionable information for all of our clients,” states Greenberg.
In addition to providing the data, analytics and insights to help over 8,000 automotive dealers make better business decisions, CoreLogic proudly serves 18 of the top 20 mortgage lenders; more than 500 lending institutions; 2,500 mortgage bankers, over 250 Wall Street firms; 650,000 real estate agents and brokers; and 19 federal agencies. CoreLogic scientists and research scholars are singularly focused on creating the unique analytic tools needed to expose hidden risk and previously unseen opportunities for clients.