CoreLogic Reinvents Property Valuation in The Era of COVID-19

Rhea-AI Summary

CoreLogic (NYSE: CLGX) has reported the successful deployment of its PropertyAssist tool for appraisers during the COVID-19 pandemic, facilitating remote digital inspections. The initiative has appraised an estimated $3.5 billion in properties this year, significantly aiding appraisers in completing their assignments. This tool has addressed appraisal delays caused by evolving lender requirements and homeowner concerns regarding the pandemic. CoreLogic continues to support the housing market by enabling appraisers to work under updated federal guidelines while maintaining safety protocols.

Positive

• Estimated $3.5 billion in properties appraised using PropertyAssist this year.
• Facilitates remote appraisals, addressing market disruptions due to COVID-19.
• Offers a solution for appraisal delays caused by changing lender requirements.

Negative

• None.

IRVINE, Calif.--(BUSINESS WIRE)--CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that following the fast deployment of PropertyAssist^TM to the appraiser community, it has helped appraisers across the U.S. conduct digital inspections and operate remotely amid these unprecedented times, which has resulted in an estimated $3.5 billion in properties appraised using the tool to date this year. This solution has allowed appraisers to complete thousands of assignments that would have otherwise been time consuming or unable to perform during COVID-19.

“During these challenging times, the need for creative solutions such as PropertyAssist has never been greater – this tool mitigates challenges brought on by the pandemic and has seen great results,” said Frank Martell, president and CEO, CoreLogic. “Our teams are driven by a single purpose – to innovate and create solutions that solve our clients’ toughest issues in the housing market, and together with our clients, we enable the dream of homeownership, helping millions of people find, buy and protect the homes they love.”

On a web-enabled device, the CoreLogic solution guides homeowners through the process of gathering interior and exterior property photos, helping appraisers complete their reports in a contactless manner. As a result, CoreLogic has enabled the lending community to complete appraisal orders placed on hold due to changing lender requirements and homeowners’ COVID-19 concerns.

Appraisers play an important role in providing checks and balances to the housing market, especially during uncertain times when the market continues to fluctuate. Digital resources such as PropertyAssist allow appraisers to continue working and completing home appraisals under the temporary guidelines from The Federal Housing Finance Agency and the Department of Housing and Urban Development – all while maintaining a safe distance.

About CoreLogic

CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.

CORELOGIC, the CoreLogic logo, are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.