CoreLogic Teletrack Launches Suite of Analytic Models and Tools to Improve Lead and Credit Risk Evaluation

Company: CoreLogic
Published: 13 September, 2010
CoreLogic, a leading provider of information, analytics and business services, today announced the launch of LeadOptix, an innovative lead quality model, and LendOptix, a credit risk model, from Teletrack Inc., a subsidiary of CoreLogic, Inc.

Created for online credit grantors, LeadOptix delivers an objective assessment of applicant identity risk by examining the previously reported relationships between an applicant's name, address, phone and other attributes submitted online. In addition, LeadOptix uses aggregate credit data from Teletrack and traditional sources to perform an initial evaluation of lead quality.

Complementary to LeadOptix, the LendOptix risk model helps credit grantors understand and predict payment risk by scoring applicant-specific credit performance data maintained by Teletrack and other credit reporting databases.

"As the non-traditional lending market evolves, access to more focused tools can help lenders develop increasingly sophisticated risk management models to help differentiate themselves from their competitors," said Dale Williams, president of CoreLogic Teletrack. "In an environment where the cost of acquiring a customer is compounded by the expense of processing low-quality or fraudulent applicants, online lenders are searching for tools that expedite lead assessment so they can evaluate the quality of the data before they engage an applicant or evaluate credit."

LeadOptix scores the submitted lead data by evaluating predictive variables derived from a range of data sources including the Teletrack proprietary databases. LeadOptix evaluates the information associated with the lead before applying aggregate non-traditional and traditional credit data. Once the lender has purchased the lead, LendOptix provides a statistically sound and easy to use summary assessment of credit risk specific to alternative credit products. In addition to proprietary credit performance data from Teletrack, the LendOptix model leverages traditional credit performance data to enhance the risk evaluation of an applicant.

"We were able to leverage extensive data assets and market expertise to build a powerful suite of models that meet the needs of our customers in the higher risk lending sector," said Williams. "Our customers can now use LeadOptix to assess identity risk and lead quality while LendOptix permits the lender to quickly evaluate credit risk. Both of these models enable non-traditional lenders to control the performance of their lending portfolios by assessing the degree of applicant identity, quality and credit risk."

"We are committed to providing innovative data and analytics solutions in the non-traditional market to help our clients manage identity risk, assess the potential value of leads and make profitable and responsible lending decisions," said Williams. "The introduction of LeadOptix and LendOptix scores exemplifies that commitment."