AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
CoreLogic Reveals Detroit Area as Riskiest Market in Latest Report.
New York -- The Detroit area tops the list of the highest risk markets, according to First American CoreLogic Inc.'s most recent Core Mortgage Risk Monitor.
The CMRM is a quarterly publication tracking an economic index that forecasts the relative risk of residential mortgage loan delinquencies due to fraud propensity and collateral risk, house price dynamics and the health of the local market economy. An elevated Core Mortgage Risk Index signals the increased potential for financially disruptive and costly economic consequences for consumers, their local community and mortgage financiers.
Right behind the Detroit area as the highest risk market is Memphis, followed by the Warren-Troy-Farmington Hills, Mich., area.
The top 10 riskiest markets among all 379 markets monitored have an average appreciation rate of 2.9%, with five of the markets at less than 2% appreciation. These high-risk markets also exhibit higher-than-average unemployment, lower-than-average wage growth and higher-than-average fraud and collateral risk.
Relative to the base period of 1Q02, the 2Q07 Core Mortgage Risk Index is holding relatively steady, posting a slight increase of 6%, bringing the index back to the base period level. The moderation of the index in recent quarters is driven by continued moderation in house prices, relatively stable economic health at the national level and stabilization in fraud and collateral risk.
According to CoreLogic, as house prices stabilize, the industry is entering a transitional period where the risks associated with rising delinquencies and foreclosures can have a concentrated and contagious impact on local markets. CoreLogic's Fraud and Collateral Risk Index is stabilizing at a relatively high level not reached in recent years, while its Foreclosure Index is expected to continue rising despite relatively unchanged employment conditions and a stabilization of house prices.
Overall, the CMRM data reveal continued turbulence in the residential real estate sector that is affecting local economies across the country.
- Veros Unveils Customizable Collateral Risk Tool.
- Magazine article from: National Mortgage News Comtois, By James October 24, 2005 700+ words
...provider is unveiling an advanced collateral risk management platform that offers users...capabilities," said Mr. Bozorgi. Collateral risk platforms have been around for a while...Bozorgi. In other words, these collateral risk platforms have covered only AVMs or...
- GMAC-RFC Selects First American Real Estate Solutions' LoanIQ(TM) as Collateral...
- Press release article from: PR Newswire August 30, 2006 700+ words
...FirstCall/ -- The LoanIQ(TM) collateral risk mitigation solution by First American...incorporated into the company's collateral risk mitigation system. The LoanIQ system...providing an instant assessment of the collateral risk associated with a particular property...
- eAppraiseIT Introduces Collateral Risk-Rating Model EagleScore; - Innovative...
- Press release article from: PR Newswire September 10, 2003 700+ words
...announced the release of EagleScore, a collateral risk- rating model that combines proprietary...handling of loans that receive low collateral risk scores. Employing the latest automated...database, EagleScore can measure the collateral risk of a single loan or diverse portfolios...
- Interthinx(TM) Expands Collateral Risk Product Suite; New Automated Decision...
- Press release article from: Business Wire July 12, 2006 700+ words
...bolstering its comprehensive collateral risk solution. Interthinx has...experienced underwriter." The collateral risk suite also includes ValVerify...support tool that evaluates collateral risk by utilizing the most comprehensive...
- Veros Announces Advanced Collateral Risk Management Platform; VeroSELECT Allows...
- Press release article from: Business Wire October 24, 2005 700+ words
...VeroSELECT, a state-of-the-art collateral risk management platform to efficiently...scalability required to manage a host of collateral risk products and drill down to several...maps, condition reports and other collateral risk analytics or data can be accessed...
- Veros CIA Report Provides Effective Tool for Managing Enterprise Collateral...
- Press release article from: Business Wire February 5, 2007 700+ words
...more effective at managing enterprise collateral risk than many in the industry anticipated...purchase in an attempt to manage the collateral risk, including the risk of fraud, they...efficiencies while more effectively managing collateral risk." Despite the vast amount of ...
- Eappraiseit launches collateral risk-rating model.(Tech Newz)(Brief Article)
- Magazine article from: Mortgage Banking October 1, 2003 700+ words
...announced the release of Eagle-Score, a collateral risk-rating model that combines proprietary...handling of loans that receive low collateral risk scores. Employing the latest AVM...database, EagleScore can measure the collateral risk of a single loan or diverse portfolios...
- Veros offers advanced collateral risk-management platform.(VEROS REAL ESTATE...
- Magazine article from: Mortgage Banking November 1, 2005 700+ words
...VeroSELECT, a state-of-the-art collateral risk-management platform to efficiently...scalability required to manage a host of collateral risk products and drill down to several...maps, condition reports and other collateral-risk analytics or data can be accessed...
- Weighing risk: Veros Real Estate Solutions started in the automated valuation...
- Magazine article from: Mortgage Banking Bergsman, Steve December 1, 2007 700+ words
...industry's lack of attention to collateral risk. In many regards, he notes, mortgage...sidestepped collateral valuation. [??] "Collateral risk has largely been ignored," says...stakeholders didn't put as much emphasis on collateral risk as they did on credit risk. In hindsight...
- MDA launches Collateral Risk Management Platform.
- News wire article from: The America's Intelligence Wire October 9, 2008 700+ words
...S. business, MDA Lending Solutions, launched the new Collateral Risk Management (CRM) Platform in its suite of collateral valuation...entire real estate loan portfolios in order to better manage collateral risk throughout the loan life cycle. The CRM Platform is powered...
Source: HighBeam Research, CoreLogic Reveals Detroit Area as Riskiest Market in Latest Report.