One of the keys to the housing market's recovery is managing and ultimately clearing out the inventory of distressed properties, according to ""DataQuick"":http://www.dataquick.com, a real estate data provider headquartered in San Diego, California.
[IMAGE]The company released its new RiskFinder Distress at the American Securitization Forum on Monday. The solution is designed to provide investors, lenders, and servicers with the ability to search and analyze the risk levels of distressed properties nationwide.
DataQuick says RiskFinder Distress enables users to track and analyze key distress events throughout the life cycle of
[COLUMN_BREAK]the loan. This provides investors and lenders the information needed to evaluate risk, determine the impact of distress sales on loss severity estimates, drive loss mitigation strategies, and identify markets that are starting to recover, the company explained.
""There is a significant opportunity in distressed properties if companies understand the risks and potential loss severity of each loan,"" said John Walsh, president of DataQuick. ""For buyers, the low cost of distressed properties provides attractive investment value, while servicers and owners need to understand how to mitigate their potential losses.""
DataQuick's RiskFinder Distress allows users to track foreclosure, short sale, REO, or for sale by auction trends. The trends can be analyzed by geographic level and time period, with coverage available nationwide and by ZIP code.
""The biggest challenge in clearing out the inventory of distressed homes is in identifying the best strategy for limiting losses or for a profitable acquisition,"" Walsh said. ""RiskFinder Distress gives users the information and analysis needed to not only track distress trends, but analyze their influences on home prices and predicting loss severity.""