Lender Processing Services (LPS) added two data modules to enhance McDash, its loan-level database.
The new modules — the Loss Mitigation Module and the Mortgage Scores Module — deliver specific information for specific purposes, the company said in a statement.
The McDash Mortgage Scores Module helps mortgage professionals assess industry trends and develop strategies around critical operational processes. The probability-of-default metric identifies high-risk loans, while the loss-severity metric helps to segment those loans with the highest potential of a loss, helping servicers more effectively manage risk.
The McDash Loss Mitigation Module offers servicers, investors and loss mitigation professionals the ability to benchmark and evaluate the effectiveness of loss-mitigation efforts, as well as examine trends, delivering the information necessary to create more effective loss mitigation strategies.
"Servicers and investors need a reliable source of comprehensive loan-level data to create operational efficiencies and manage risk," said Herb Blecher, director of loan data products at LPS Applied Analytics.