Real estate information solutions provider DataQuick reports that it has expanded the availability of its pre-foreclosure intelligence from 156 to 872 U.S. counties, significantly enhancing distressed property analysis capabilities for originators, risk managers and servicers.
DataQuick's pre-foreclosure intelligence includes comprehensive details on notice of default, notice of trustee sale and lis pendens (LP) transactions. The addition of pre-foreclosure intelligence to general property and market data nearly doubles the number of transactions currently available to property evaluators. This, in turn, allows for more accurate valuations for both distressed and non-distressed properties.
The expansion also helps streamline the origination, lending and servicing process by providing enhanced predictive valuation models and a more comprehensive local market appraisal analysis, DataQuick states in a release.
"Distressed properties still have a huge impact on property valuations as well as the strategies lenders, servicers, and investors deploy to make effective loan-level and portfolio management decisions," says John Walsh, president of DataQuick. "Our expanded pre-foreclosure content helps further fuel these strategies and better provide the information needed for making the most accurate property valuations.’
Integrated into the existing structure of DataQuick's National Property Database, the expanded pre-foreclosure coverage will also be combined with the company's extensive database of REO transactions to provide an end-to-end view of distressed activity.