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Getting ready to respond to upcoming demand generated by the updated Home Affordable Refinance Program resembles preparations to face a hurricane. It is unmeasurable and requires assistance.
HARP 2.0 has a short mandate and expectations vary, but CoreLogic expects an increase in refinance activity significant enough to require a set of specially designed services. The Santa Ana, Calif.-based vendor is offering comparative datasets, analytics, teams of outsourcing professionals and software support in a bundled offering.
Refined by the Federal Housing Finance Agency to assist underwater homeowners, HARP 2.0 may create lender demand for third-party providers like CoreLogic to shoulder higher refinancing volumes, executives at the company said.
CoreLogic plans to supply HARP-specific teams that lenders can use either as staff augmentation or full-component outsourcing, when they review underwriting, closing and post-closing auditing, as well as for quality control requirements.
CoreLogic's predictive...