MDA DataQuick added a new software product to its line of loss mitigation tools that provides up-to-date collateral risk information and notifies the loan holder when post-closing changes occur. Collateral Monitor enables lenders and servicers to identify loans in imminent risk of default, by compiling a number data sources and monitoring risk characteristics like occupancy and additional liens, MDA DataQuick said. The software is designed to work with MDA DataQuick’s Collateral Validation product, which was updated to granular targeting of problem valuations, improved transparency and simplified management of sophisticated analysis, the company said. “Lenders and servicers are dealing with a tremendous influx of defaults and foreclosures, but it is those loans on the verge of default that are most insidious and potentially harmful to already battered portfolios, “ said MDA DataQuick president John Walsh. “Our loss mitigation solutions, such as Collateral Monitor, leverage data and risk characteristics to keep companies ahead of defaults.” MDA DataQuick is a division of San Diego-based MDA Lending Solutions, and an independent provider of property data to real estate and mortgage professionals. Write to Austin Kilgore.
DataQuick Launches Collateral-Monitoring Software
Most Popular Articles
Latest Articles
The best real estate podcasts for agents and brokers in 2024
The best real estate podcasts to motivate, inspire, entertain and enlighten you this year.
-
Home sellers saw their profits shrink in the first quarter: Attom
-
If reelected, Trump could seek greater control over Federal Reserve
-
Acra CEO Keith Lind on staying the course amid choppy waters in non-QM
-
HUD walks back some proposed changes to HECM for Purchase program
-
Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects