Home equity loans and lines comprise a significant portion of many servicing portfolios due to the expansive growth in home values and loan volumes between 2004 and 2007. If you have home equity loans or lines on your books, you are at a higher risk.
A great opportunity exists to capitalize on the similarities between your mortgages and home equity loans and lines to reduce your risk. LPS offers robust data and analytics, risk management and servicing solutions to power your home equity strategies and success.
Actionable Data and Analytics
LPS has the deepest and broadest level of loan data to help home equity lenders and servicers forecast and proactively manage changes in the mortgage industry. Armed with this information, you can identify sudden changes in market drivers and behaviors, helping you to guide and prioritize your strategies.
One example of data and analytics in action is Lien Advisor, which delivers ongoing alerts for delinquency indicators, default activity, ARM resets or changes of ownerships to you, so you can evaluate potential risk and maximize your secured interest. Read more about Lien Advisor.
Complete Risk Management
By leveraging LPS’ technology to service both your traditional mortgage and home equity loans and lines, you benefit from a more complete financial view of the borrower’s profile, risk segmentation and profitability. With this collective look at borrowers, you can see their total risk and behaviors as you evaluate – and mitigate – your risk.
Robust Servicing Technology
LPS delivers the technology to support the unique blend of consumer credit and mortgage requirements that are necessary when offering home equity loans and lines. LPS’ technology supports:
- Escrow administration
- Nonperforming loans
- Year-end reporting
- Card access
- Optional insurance products
- Regulatory compliance
- Financial controls
Home equity loans and lines are a profitable offering, providing you additional lending volume and serving as an anchor for cross-selling opportunities.
Ensure you have the right data, risk management and technology solutions to support your home equity strategy. Call 800.991.1274 or e-mail mortgage.marketing@lpsvcs.com today.