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Borrowers could have their loan applications and portfolios scrutinised further with leading data house CoreLogic revealing more analytical tools for lenders.
Lenders will have access to more tools with the release of CoreLogic’s new Home Loan Portfolio Analysis service, which is said to be able to analyse the portfolios of borrowers.
Tracey Ah Hee, CoreLogic executive head of data, said the tools can match a lender’s existing portfolio data to property-specific data in order to provide borrowers with a prospect of their future growth.
“Lenders can easily see key areas for focus, which is important within such a rapidly changing environment,” Ms Hee said.
“It ensures lenders can easily identify such as what the dollar value of portfolio properties on the market is, how much of the portfolio is derived from rental income, and what is their percentage exposure to postcodes or developments of interest.”
The tools are also able to help identify risky borrowers and potentially inaccurate or even fake information about rental incomes on loan applications, as well as being able to analyse various markets and the impacts of various postcodes on surrounding markets, and provide borrowers with a benchmark for rental income calculations.
“Selling, buying, moving and renovating clearly influence home loan refinance or bank switching, so understanding the property sales and listings activities of actual customers is critical,” Ms Hee said.
“Basically, this data allows lenders to proactively support the big financial decisions being taken by their customers, before they walk out the door.
“Insight into a customer’s actual equity position can identify opportunities for growth or, on the flip side, situations where proactive support may be required.”