Sierra Pacific Mortgage Selects CoreLogic to Streamline Home Appraisal Process

Rhea-AI Summary

CoreLogic (NYSE: CLGX) has partnered with Sierra Pacific Mortgage to enhance its collateral valuation platform, aiming to improve underwriting capacity and turn times. CoreLogic's digital solutions are designed to streamline and simplify appraisal reviews, helping lenders save time and reduce costs. Sierra Pacific has reported quicker appraisal reviews leading to faster loan closings thanks to the centralized appraisal review process. This collaboration highlights CoreLogic's commitment to innovating lending workflows, allowing underwriters to concentrate on credit aspects.

Positive

• Partnership with Sierra Pacific Mortgage improves underwriting capacity.
• CoreLogic's solution streamlines appraisal reviews and enhances efficiency.
• Sierra Pacific reports faster loan closings due to improved appraisal processes.

Negative

• None.

CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that Sierra Pacific Mortgage, a nationwide lender, has implemented CoreLogic’s collateral valuation platform to increase their underwriting capacity and improve turn times.

“We are excited to work with innovative lenders like Sierra Pacific Mortgage to find ways to take time, touch and cost out of their collateral underwriting workflows,” said Sage Nichols, Executive of Client and Business Development at CoreLogic. “Unfortunately, for many lenders, it actually takes longer and costs more to originate a loan today than it did ten years ago – and this is preventing them from benefiting from the current originations boom. At CoreLogic, we are dedicated to helping lenders transform their complex, manual and unstructured valuation reviews into simple, efficient and intuitive step-by-step workflows.”

CoreLogic’s digital solution provided Sierra Pacific Mortgage a comprehensive and efficient toolset that has helped them expedite the review process and enable consistent and precise analysis of appraisal data.

“We are seeing a quicker turnaround in our appraisal reviews and sign-offs. This allows us to issue the closing documents sooner and complete loan closings faster,” said Susan Roy, Executive Vice President of National Operations at Sierra Pacific Mortgage. “By having a centralized appraisal review process in place, we have been able to reduce the underwriting time on each loan. Before using CoreLogic’s appraisal review solution, each underwriter devoted significant time to the review of the appraisal. After we implemented it, productivity improved by allowing the underwriter to focus on the credit aspects of the loan.”

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210209005470/en/

FAQ

What new partnership was announced by CoreLogic (CLGX)?

CoreLogic announced a partnership with Sierra Pacific Mortgage to enhance their collateral valuation platform.

How has Sierra Pacific Mortgage benefited from CoreLogic's solutions?

Sierra Pacific Mortgage has improved appraisal review turnaround times and reduced underwriting time on loans.

What is the goal of CoreLogic's digital solution for lenders?

The goal is to simplify and expedite collateral underwriting workflows, ultimately lowering costs and improving efficiency.