""Lender Processing Services, Inc."":http://www.lpsvcs.com/Pages/default.aspx (LPS) announced enhancements to McDash, the company's loan level database, through the addition of two supplemental data modules.[IMAGE]
The newly added features are the McDash Mortgage Scores Module and the McDash Loss Mitigation Module.
The mortgage scores module helps mortgage professionals manage risk by identifying high-risk loans.[COLUMN_BREAK]
The module determines the probability of default and also identifies loans with the highest potential for loss, which in turn allows servicers to more effectively manage risk.
The loss mitigation module gives servicers and investors the ability to evaluate the effectiveness of their loss mitigation efforts. The module provides details on important information such as modification terms, government program identifiers, flags for short sales and deeds in lieu, trial and payment plan information, and re-default rates.
""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. ""McDash loan data and supplemental modules allow users to choose the most relevant data to help them achieve the results they want.""
Overall, both modules give mortgage professionals access to more data fields, support due diligence, manage risk, and make operational tasks more efficient.
Based in Jacksonville, Florida, LPS provides integrated technology, data and analytics to the mortgage and real estate industries.