JACKSONVILLE, Fla. – October 22, 2012 – Lender Processing Services, Inc. (NYSE: LPS), a leading provider of integrated technology, data and analytics to the mortgage and real estate industries, today announced that it has added two supplemental data modules to enhance McDash, its market-leading loan-level database. The new modules give mortgage professionals access to more data fields than ever to enhance decision-making, support due diligence, manage risk and make operational tasks more efficient.
The new modules – the Loss Mitigation Module and the Mortgage Scores Module – deliver specific information for specific purposes.
The McDash Mortgage Scores Module helps mortgage professionals assess industry trends and develop strategies around critical operational processes. The probability-of-default metric identifies high-risk loans, while the loss-severity metric helps to segment those loans with the highest potential of a loss, helping servicers more effectively manage risk.
Lenders and risk managers can quickly assess current market conditions by using the Mortgage Scores Module to supplement internally developed reports and analytics. The Mortgage Scores Module is integrated with LPS’ Behavioral Library, a suite of software applications and models for a holistic view of mortgage performance, which helps to capture the impact of loan modifications, recidivism, extended foreclosure time frames, ZIP code-level home price projections, presence of second liens and the effects of government programs on borrower and servicer behavior.
The McDash Loss Mitigation Module offers servicers, investors and loss mitigation professionals the ability to benchmark and evaluate the effectiveness of loss mitigation efforts, as well as examine trends, delivering the information necessary to create more effective loss mitigation strategies. The module includes details such as terms of modification, government program identifiers, flags for short sales and deeds in lieu, trial and payment plan information, and re-default rates. This type of information is critical for analyzing portfolios and responding to increased regulatory and legislative requirements.
“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.”
These new modules join the McDash Property Module, introduced in May 2011. This set of appended data includes property-specific information, such as previous sale price, presence of second liens and appreciation in value since origination, which assists servicers, investors, and loss mitigation professionals in their estimation of current combined LTV. Mortgage professionals can use this anonymized information to identify mortgages that have negative equity, enabling them to effectively manage portfolio risk and prioritize loss mitigation efforts. Investors can easily analyze borrower equity nationwide, providing opportunities to align investment strategy with risk tolerance.
About LPS Applied Analytics
LPS Applied Analytics is a trusted resource for mortgage lenders, servicers and investors--providing market-leading data and analytics solutions to help them succeed. These offerings allow professionals to improve performance, proactively identify risk, create mitigation strategies and accurately estimate collateral value. An integral part of parent company LPS’ end-to-end solution suite, LPS Applied Analytics products include:
• Mortgage performance data
• Real estate data
• Behavioral models
• Portfolio analytics
• Property valuation
About Lender Processing Services (LPS)
LPS (NYSE: LPS) delivers comprehensive technology solutions and services, as well as powerful data and analytics, to the nation’s top mortgage lenders, servicers and investors. As a proven and trusted partner with deep client relationships, LPS offers the only end-to-end suite of solutions that provides major U.S. banks and many federal government agencies the technology and data needed to support mortgage lending and servicing operations, meet unique regulatory and compliance requirements and mitigate risk.
These integrated solutions support origination, servicing, portfolio retention and default servicing. LPS’ servicing solutions include MSP, the industry’s leading loan-servicing platform, which is used to service approximately 50 percent of all U.S. mortgages by dollar volume. The company also provides proprietary data and analytics for the mortgage, real estate and capital markets industries. Lender Processing Services is a Fortune 1000 company headquartered in Jacksonville, Fla., employing approximately 8,000 professionals. For more information, please visit www.lpsvcs.com
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