With the economic recover uncertain and home values fluctuating, it's important for lenders, servicers and investors to be vigilant of property valuations relative to local market performance. LoanSafe Collateral Manager can help distinguish between a rebounding local market and an overvalued property, genuine and poor-quality valuations, and volatile and stable micro-markets, helping to prevent costly losses. LoanSafe Collateral Manager offers a unique ability to zero in on collateral risk. No other tool on the market provides the single-minded focus on property-related risk, backed by the quality of data, model effectiveness and in-depth reporting we provide. In a time of transition, a firm grasp on property risk is key to understanding and managing the complete risk picture.
LoanSafe Collateral Manager analyzes property and neighborhood characteristics to determine the early payment default and loss severity risk of each mortgage. The proprietary collateral risk assessment engine evaluates numerous elements to deliver a clear risk picture, including multiple relationships and comparisons between property characteristics, pricing and appraisal attributes, geographic enhancers or detractors, market volatility, levels of distress in a neighborhood, and other key collateral metrics.
LoanSafe Collateral Manager is a best-in-breed risk management and review product that reduces uncertainty, fights exposure to delinquency and overvaluation risk and increases organizational efficiency in applications that include:
- Predicting collateral risk
- Validating appraised values
- Identifying loans for further collateral review
- Identifying most appropriate valuation tools or services
The LoanSafe Collateral Manager report allows you to drill down to the details that contribute to the risk score, including:
- Property Details: market and subject analysis, area maps
- Subject Property Analysis: details, sales and loan history
- Nearby Property Review: nearby sales and prices, closest property records
- Buyers and sellers
The entire LoanSafe suite was enhanced to include additional configuration options upon request, including data contribution. Using this feature, the model can incorporate that data and enhance the accuracy of the score. Over time, contribution of data will enhance the accuracy of the score.
NOTE: Data will be available for off-line analysis and comparison to other lenders' data.
Introducing a new feature - DU3.2 File Upload
1003 is the form number assigned by Fannie Mae and used by mortgage computer software programs when referring to the Uniform Residential Loan Application. Fannie Mae's desktop underwriter system created a proprietary format referred to as "DU3.2" to import/export the 1003 loan application data to/from Loan Origination Software (LOS).
Up until now, lenders nationwide were required to manually hand-key this information into risk management solutions, such as any of the LoanSafe analytics. Since this was a well-known and commonly used format, RealQuest Professional sought to provide its users with a solution to reduce time, effort and errors from manual entry - introducing the DU3.2 File Upload feature.
Now users have the ability to import a DU3.2 file in lieu of manually entering the fields on the LoanSafe input form. Users can simply browse for files in any directory available to them. Data from uploaded files is automatically parsed and key data is automatically entered in the appropriate "Input Information" page fields. All fields will be editable after file upload and before requesting the report.
Contact us today to learn more about the power of RealQuest Professional — the standard in property data and analytics.
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