Data analytics firm CoreLogic [stock CLGX][/stock] seems like a good enough candidate to start a credit ratings service. We know more than a few financial firms looking to put together private-label residential mortgage-backed securities.
Those deals will likely get multiple credit risk assessments and not all from the big three.
Mixing this with the rumors that CoreLogic is putting together a credit ratings agency, it seems like a sure thing.
Me: Is it true CoreLogic will be launching its own credit ratings agency service?
CoreLogic: "We are continually evaluating new ways to apply our robust data & analytics capabilities to create dynamic insights for financial markets, including the potential for supplementary bond ratings."
So the company admits it is looking into the possibility of mortgage bond ratings, with hints of what such a business would look like, or at least where a new business may be needed.
"Currently, there is no transparent, real-time, loan-level bond assessment solution for investors and issuers," the statement said. "Such a solution would be a natural extension of our due diligence and surveillance offerings."