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.