RealtyTrac's foreclosure, property, loan, and home sales data is now available via Moody's Analytics, an independent provider of economic forecasting and credit risk services.
By aggregating RealtyTrac's proprietary foreclosure information and combining it with local economic and house price measures, Moody's says banks, asset managers, and federal and local governments are given insight into all stages of the foreclosure process.
""Foreclosures are an important leading indicator, and the spate of home mortgage defaults during the downturn has highlighted the need for quality and timely data,"" said Celia Chen, senior director of Moody's Analytics, in a statement from the company.
Chen added, ""In some geographies, such as Las Vegas and Miami, foreclosures will become a significant drag on house price appreciation while, in other geographies,
significant reduction in foreclosure inventories will remove a key impediment to house price appreciation, allowing lenders and other market participants to customize and localize business and marketing plans.""
The data from RealtyTrac is updated monthly, providing timely insight into local foreclosure conditions, including pre-foreclosure, auction, and bank-owned accounting for both action starts and inventory counts, as well as geographic granularity by region, state, metropolitan area, city, county, or ZIP code.
""We are pleased to work with Moody's Analytics in aggregating and combining foreclosure data with other measures of housing and economic activity,"" said Rick Sharga, SVP of California-based RealtyTrac. ""Institutions with exposure to consumers either through retail loan portfolios or other products will now be able to easily integrate their economic and house price data with RealtyTrac foreclosure data for more predictive models.""
RealtyTrac's foreclosure data also allows Moody's Analytics' clients to draw on the data and deliver it in a format that they can adjust for their own modeling needs and combine with house prices, employment, personal income, population, migration, and other information.
""When combined with exclusive offerings such as the Case-Shiller house price forecasts, this foreclosure data can help investors develop more accurate expectations for house price appreciation and risk managers to develop more realistic expectations of risk exposure,"" said Erlind Dine, director at Moody's Analytics.