Beyond the Buildings

Modernization can be boiled down to an equation. The more data and automation available to improve the overall mortgage origination process, the more the overall cost to originate the loan goes down.In fact, one of the industry’s largest organizations, the Mortgage Industry Standards Maintenance Organization (MISMO), is working steadily to streamline the mortgage origination process by replacing paper forms with digital processes.In this episode, host Maiclaire Bolton Smith sits down with Sage Nichols, an executive for client success at CoreLogic, to talk about how standards, best practices and property data can pave the way for modernizing the mortgage industry.In This Episode:0:45 –Why is digitizing data the No. 1 priority for customers?1:50 – How do standards around property data contribute to affordability? High cost to originate2:55 – What are the challenges surrounding the adoption of these standards?5:34 – The Natural Disaster Digest with Erika Stanley6:32 – How is MISMO blazing the path to simplify the mortgage closing process (hint: e-closings are important)9:09 – How exactly does accurate and reliable property data reduce the likelihood of fraud?10:33 – What’s next for MISMO?Up Next: Appraising PropTech Innovation: Do Short-Term Changes Have Long-Term Effects?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

The word “mortgage” evokes myriad responses depending on one’s relationship with homeownership. But one thing is certain: Mortgages are a big deal for the U.S. — and global — economy. These property payment plans support a large portion of one of the world's largest asset classes and are, therefore, highly scrutinized.This has led to the mortgage industry garnering a reputation for slow processes and a hesitation to adapt to modern technological innovations. However, reputations are not always representative of reality.In fact, one of the industry’s largest organizations, the Mortgage Industry Standards Maintenance Organization (MISMO), is working steadily to streamline the process by replacing paper forms with digital processes.In this episode, host Maiclaire Bolton Smith sits down with Sage Nichols, an executive for client success at CoreLogic, to talk about how standards and best practices can pave the way for modernizing the mortgage industry.In This Episode:3:47 – What is MISMO?4:42 – How has the mortgage industry changed and moved toward digitization?6:56 – COVID still has lasting effects on the mortgage industry8:12 – Why are standards important anyways?13:12 – The Sip: Erika Stanley gives a look under the hood at the current state of the property market14:15 – Why are standards crucial for the secondary mortgage market?Up Next: Appraising PropTech Innovation: Do Short-Term Changes Have Long-Term Effects?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

As climate change continues to influence weather patterns, not all areas of the U.S. will be equally exposed to natural hazard risks. While some locations may not be ideal choices for property investment in the future, there are other areas that data scientists have demonstrated will be sheltered from the damaging effects of natural catastrophes.In Part 2 of this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic Chief Scientist Howard Botts to see where the safest places to live in the U.S. will be in the face of climate change.  In This Episode1:13 – So where are the safest places to live in the U.S. today?2:44 – Are we expecting these areas to become boomtowns? They have affordable real estate.5:22 – When factoring in future climate change scenarios, where will the safest places to live be?6:21 – Macro- versus micro-migration patterns. Sometimes moving a few blocks can make a home more resilient.9:33 – If El Nino arrives, how will it affect the weather and the subsequent natural catastrophes?10:18 – Are millennial homeowners more likely than baby boomers to consider climate change when purchasing a property?12:42 – How do earthquakes fit into climate change property risk profiles? Up Next: Using Data Science to Examine Riskiest US Areas to Live Amid Climate ChangeFind full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

Natural catastrophes have long been of concern to the housing and property markets. However, as these events increase in severity and frequency, climate change data science is projecting that not all areas of the U.S. will be equally exposed to these risks in the future. Despite the popularity of some migration destinations with Americans, data analysis indicates that, depending on how dramatically current climate patterns change, many of these locations may not be ideal choices for property investment in the future. In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Chief Scientist Howard Botts to discuss the riskiest places to live in the U.S. for natural disasters. In This Episode:3:08  – The climate has always been changing, so what is going on now that makes it so imperative to analyze and forecast natural hazard risk?6:16  – The IPCC’s new report. What is it and how does it change the game for predicting the future?7:34 –  So where are the riskiest places to live in the U.S. as climate change influences natural disasters?10:28 – Our Facts Guru Erika Stanley goes over the numbers in the housing market.11:49 – Is California really going to break off and float away?Up Next: Listen to our team talk about what it was really like to live through the historic California floods this past winter. Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZtLearn More:AR6 Synthesis Report: Climate Change 2023 — IPCCSeven of 10 Riskiest US Climate Locations Are Appreciating Faster than National Rate

As annual home price growth reached its lowest level in more than a decade, all eyes are on the housing market as a bellwether for the larger economy. In Part 2 of this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what low inventories, high interest rates and lack of upcoming supply mean for real estate. Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Conversations.In This Episode:0:37 - How closely are people tracking interest rates? Is it worth doing so?2:26 – Is this a brave new world full of high interest rates for first-time homebuyers?6:27 – Why is inventory in the housing market still so low?9:00 – Construction and labor costs are transforming starter homes into luxury purchases.12:08 – The Natural Disaster Digest: Learn about global natural catastrophes’ effect on real estate13:10 – What does the future hold for the property and housing market?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt

The real estate market is one of the largest asset classes in the world. So, when economics shift in the sector, the larger economy feels the ripple effects. Recently, interest rates have been the highest in decades, home prices have seen the lowest recorded rise since 2019 and nearly 60% of homes sold below list price in March 2023. However, zooming out and looking at the bigger picture reveals that some of these trends shouldn’t be as surprising as they seem, and, maybe, they were even predictable.In this episode, host Maiclaire Bolton Smith sits down with CoreLogic Principal Economist Molly Boesel to discuss what is really happening in the housing market and what that means for first-time homebuyers, repeat homebuyers, investors and banks.Up Next: Listen to Molly Boesel talk about myths in the housing market on Core Conversations.In This Episode:2:04 – Has the market slowdown been as bad as economists predicted?5:35 – Interest rates, inflation and home prices: how intertwined is that relationship?7:22 – Get the numbers in the housing market. Erika Stanley hosts The Sip.9:25 – 30-year, fixed-rate mortgages vs adjustable rate mortgages. What is your best bet?13:37 – How closely are people tracking interest rates? Is it worth doing so?

In Part 2 of this episode, host Maiclaire Bolton-Smith continues the conversation with CoreLogic’s Senior Catastrophe Response Manager Jon Schneyer to explore the ongoing impact of Hurricane Ian on Florida’s insurance and reinsurance industries. In this installment, the two will talk about what the CoreLogic team actually saw when they went to southwestern Florida to observe the hurricane damage and how this helps improve models that can better secure the future of homeowners and insurers that increasingly face natural hazard events due to climate change.In This Episode: 0:57 – Does storm surge, wind or flood account for the majority of uninsured loss from Hurricane Ian?3:43 – How does damage from Hurricane Ian compare to other historic storms?4:55 – CoreLogic went on a reconnaissance mission to southwestern Florida to survey the damage.8:52 – How did the team’s observations feed into estimated loss valuation models?11:06 – What can we anticipate for the 2023 hurricane season?

In Part 1 of this episode, host Maiclaire Bolton-Smith sits down with CoreLogic's Senior Catastrophe Response Manager Jon Schneyer to discuss the aftermath of Hurricane Ian’s impact on the Florida coast six months later. The catastrophe impacted a state where the insurance market was already stressed, and now the government, homeowners and insurers are working to reorient themselves and build a stable environment in an area that increasingly faces natural hazard events due to climate change.Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZtIn This Episode:2:47 – Meet Erika Stanley, our new Facts Guru3:30 – So why was Hurricane Ian so devastating?5:26 – Let’s talk about the Florida insurance landscape and how Hurricane Ian will affect things7:00 – How has the Florida Legislature worked to help the insurance industry recover?10:20 – The Sip: The numbers you need to know in the property market11:25 – Will Hurricane Ian make waves in the reinsurance market?13:34 – Will this storm affect the National Flood Insurance Program (NFIP)?

In Part 2 of this episode, host Maiclaire Bolton-Smith continues the conversation with Kent David, a senior leader in analytics consulting, and Tom Larsen, an expert in catastrophe risk management and insurance solutions, to talk about the atmospheric rivers, bomb cyclones and snow that have made headlines and again put California’s natural hazard risks in the spotlight. Get insights into the state’s wildfire risk, the consequences on reservoir capacity and the future impacts of the current snowpack while also learning a few choice colloquialisms from our guests.Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZtIn This Episode:2:02 – It snowed in California – a lot. But what happens when that snow melts?5:55 – How much reservoir capacity is available in California to absorb the snowpack?8:15 – Meteorologists modeled a dry winter. What happened?10:37 – Do these winter storms change California’s wildfire risk?12:44 – Katy, bar the door! Climate change will change flood insurance.19:39 – Visit us in New Orleans, Louisiana! 20:15 – Mitigation is only the first step to becoming resilient.

The Golden State has endured months of inundations from atmospheric rivers and bomb cyclones. As a result, the news is awash with images of submerged streets and mudslides, replacing our collective imagination of California as a state perennially filled with sunny beaches and golden hills. But not everyone in the state has had the same experience with this weird weather.In Part 1 of this episode, host Maiclaire Bolton-Smith sits down with Kent David, a senior leader in analytics consulting, and Tom Larsen, an expert in catastrophe risk management and insurance solutions, to discuss what it has really been like to live through the continuous rain that has made headlines in California since these atmospheric rivers began at the start of the year.Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZtIn this episode:1:31 – Come see us in New Orleans, LA!3:27 – Maiclaire, Kent and Tom discuss whether they’ve experienced this amount of rain before6:13 – How did these three Californians weather the storms?11:01 – Katia hosts The Sip, summarizing the important numbers in the property market12:54 – What was the flooding like north of the Bay Area?13:36 – What is going to happen when the snowpack melts?