Florida-based ""Lender Processing Services, Inc."":http://www.lpsvcs.com (LPS), a provider of mortgage-related technology, services, and performance data and analytics, recently added a new property module to its McDash Loan Data suite of products. The suite is offered by ""LPS's Applied Analytics"":http://www.lpsvcs.com/Divisions/AppliedAnalytics/Pages/default.aspx division.[IMAGE] The new module supplements the McDash database, which includes data on more than 40 million mortgage loans in a first-lien position, with an updated view of borrower equity.
It combines public records information related to second liens, such as home equity loans and lines of credit, with[COLUMN_BREAK]
the analytic capabilities of the LPS Home Price Index (HPI) to provide an indication of current total loan-to-value (LTV) ratios for residential housing across the country.
""The stress on the housing market nationwide creates unprecedented challenges for anyone whose business is impacted by fluctuations in property value,"" said Dan Berman, president of LPS Applied Analytics.
""Professionals ranging from servicers managing portfolio risk to capital markets investors looking at properties like those in their own holdings will find the coverage and timeliness of the data delivered via the McDash Property Module to be invaluable,"" Berman added.
The McDash Property Module provides supplemental property-specific information, including previous sale price, second liens, appreciation since origination, and current combined LTV.
It enables servicers to identify mortgages that have negative equity, which may be at risk of strategic default, enabling them to manage portfolio risk and prioritize loss mitigation efforts.
Capital markets professionals can also analyze borrower equity nationwide to align investment strategy with risk tolerance.