MEDIA ADVISORY: Shifting State of Mortgage Lending: Cost Reduction is Answer
November 2005
Who:
Anthony Romano, executive vice president of sales and marketing for CoreLogic, is a collateral risk management and fraud prevention expert. Romano consults and implements fraud prevention strategies for lenders nationwide.
What:
The current market shows houses on the market averaging two weeks at most, with inventory tripled and few offers at asking price. The 30-year rate has gone above 6.3 percent, and CoreLogic’s economists believe it could be at 7 percent by the end of 2006. Lenders are seeing razor-thin margins, and many publicly traded sub-prime originators have reported a loss. This state of the mortgage industry is leading lenders to focus on one area: cost reduction. Anthony Romano offers commentary on the issue of cost containment and answers the following questions:
- How can lenders maximize efficiency without compromising risk management?
- What steps do originators need to take to reduce collateral fraud at the front end?
- How can lenders identify loans that can be streamlined through the origination process and not incur additional costs?
- How can lenders utilize automation technology to replace higher cost functions?
When:
Romano is available immediately. Please contact Meredith Boyd to schedule an interview.
About CoreLogic, A C&S Company
Sacramento, Calif.-based CoreLogic, A C&S Company, is the leading provider of collateral risk-analysis and management technology and services to the U.S. mortgage banking industry. Since 1997, the mortgage industry has relied on CoreLogic to enable risk management and workflow process support. Using CoreLogic technology, mortgage originators and investors are able to increase profitability and loan quality by making more informed lending and investment decisions. The CoreLogic suite of property information tools provides the data, comprehensive geographic coverage, ease-of-use and accessibility the mortgage industry needs. For more information about CoreLogic, visit www.corelogic.com.
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