From data standardization to AI-driven tax servicing, CoreLogic is shaping the future of mortgage servicing.
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00:00We are live from MBA Servicing.
00:08My guest is Dustin Moore, VP of Product Management for Residential Tax at CoreLogic.
00:14Dustin, it's so great to speak to you today.
00:16Yeah, hey, thanks for having me here.
00:18This is exciting.
00:19It's a great show.
00:20Super excited to see what you got for us today.
00:22Amazing.
00:23So before we dive in, could you just introduce yourself and also your role at CoreLogic?
00:28Sure.
00:29I lead our residential tax product teams at CoreLogic, which is part of our servicing
00:34and payments division inside the company.
00:36And so we are really focused on helping servicers do things better, right?
00:42So we keep homeowners and taxing authorities and servicers sort of at, you know, the central
00:47point of our business as each of our sort of equally weighted constituents and the people
00:52that we try to provide value for.
00:53And so we just try to take care of them every day with the best technology and solutions
00:57we can.
00:58And how does CoreLogic's philosophy of every loan mattering impact your business and your
01:04interaction with your clients?
01:06Yeah.
01:07So it's just really meaningful work, right?
01:10Because it's not just a property address.
01:12It's not just a loan number.
01:14It's my grandparents.
01:15It's my parents.
01:16It's the people I work with.
01:17It's my friends.
01:18And so to be able to make decisions that impact those folks and to know that the things that
01:24I do correctly and the things that my team does incorrectly and correctly throughout,
01:29you know, the course of our business has a real impact on people.
01:32You know, I think that that's something that is really cool to be a part of.
01:36And then, you know, I think the other thing is that every loan sort of stands on its own.
01:41Each one is nuanced.
01:42And so every loan does matter because every loan has its own sort of kinks and quirks
01:48and we've got to work with each one individually.
01:49And that's the only way to take care of our customers really the way they deserve.
01:54Your business recently announced the launch of digital tax onboarding decisions.
01:59What is that?
02:00So we're pretty excited about this one.
02:02It really unpacks a lot of the nuance that's inside of an onboarding of a loan.
02:10And so, you know, when we say nuance, what we mean is that taxes can, you know, the tax
02:15line setup can fluctuate a little bit depending on investor rules or geography or some of
02:21the exceptions impacting that tax amount.
02:24So what onboarding decisions does is bounces all those data points that we have and that
02:30our customers provide us against a best in class rules library and then layered on top
02:35of each servicer's bespoke business rules and sets up those tax lines.
02:40And it really ends up doing two things for us.
02:43One is a more accurate line setup.
02:45And then the second is an operational efficiency, right?
02:48Because we get people from looking and verifying every loan to passing the easy ones through
02:53automatically and then putting our humans in the loop on the things that might need
02:57a little bit more research or work.
02:58So pretty good from both the customer service and efficiency angles.
03:02And you mentioned data, and I know CoreLogic is all about data.
03:06So in this new launch, are you tapping into some of this huge lake of data that CoreLogic
03:15has access to and is incorporated into their database?
03:19Sure.
03:20Of course.
03:21Well, not almost.
03:22Everything we do at CoreLogic taps into, again, that massive data asset and onboarding decisions
03:28is no different.
03:29We use everything that we have at our disposal to ensure we have good customer experiences.
03:35And last I checked, it's like thousands and thousands of data sources.
03:39That's right.
03:40It's many thousands.
03:41Yeah, for sure.
03:42So what specific challenges in tax line setup does this new product launch address?
03:49I would say it's really the nuance of each one.
03:53Again, there are differences geographically.
03:57There's differences depending on what happened at the closing table.
04:01There's a number of things that might make something not be the typical flavor that we
04:05expect.
04:06And so being able to run your own rules against that is something that is unique, first of
04:12all.
04:13And really, it does bring us back to the idea that every loan matters, even in the unique
04:18situations.
04:19Yeah.
04:20So you sit atop this business that is helping with tax issues, helping your clients with
04:27tax issues.
04:29What challenges and trends are you seeing over the next two to five years that you think
04:36are going to impact your clients?
04:38Yeah, sure.
04:39So, you know, I think one is the experiences that our homeowners are having in other industries
04:47are raising the bar for what we do as servicers, right?
04:50So our digital experiences have to get better.
04:53Our communication methods have to get better.
04:56Everything has to match that consumer experience.
04:57And so I think that the one thing that we're really going to focus on is driving a better
05:01overall digital servicing experience.
05:05You know, the second thing I think about is education.
05:09So taxes and insurance, particularly the costs around each one of those, is going to continue
05:16to be a challenging environment likely into the next few years.
05:19And so the way that we educate, sort of pre-educate our consumers and help them with some of the
05:25potential inevitabilities of payment changes over time, I think that that's an area of
05:30focus that we're all going to take a really sharp look at.
05:33And then the third is I expect data to start moving faster.
05:38Servicing traditionally kind of moves data around via flat files and Excel spreadsheets
05:43and things like that.
05:44I look for the pace of that to really pick up.
05:47I think we'll start to get into APIs and web services and things that start to exchange
05:51data more like our partners do on the origination side of things.
05:54And so I think that's something that the servicers who have the infrastructure and the experience
06:01and the ability to handle that faster data movement are probably going to provide better
06:04experiences to their clients.
06:06So we had your CEO, Pat Dodd, on stage at an event last year called The Gathering, where
06:12he kind of set the event abuzz with all of the AI capabilities that you're starting to
06:17integrate at CoreLogic.
06:19How is AI and other new technologies being integrated into the business that you help
06:25lead?
06:26Sure.
06:27So, you know, I think Pat's done, first of all, a great job of setting that culture,
06:31right?
06:32AI is going to be in our products.
06:34And so, great job of leadership there on his part.
06:36And I think, you know, looking at tax specifically, we're seeing really good results in what we're
06:42doing around forecasting.
06:43And so, again, looking towards that trend of taxes are generally on the increase.
06:49You know, our servicers are interested in what's that going to look like for me?
06:53What does that look like for my business?
06:55What does my financial profile need to take into account based on these increases?
07:01And, you know, as we look at the testing results, it's really, really impressive what
07:07I think we'll be able to bring to market here shortly.
07:09Dustin, it has been so great catching up with you today.
07:12Really interesting conversation.
07:13Thank you so much.
07:14Of course.
07:16I appreciate it.