Lender Processing Services Inc. says it has enhanced its McDash loan-level database tool with the addition of two supplemental data modules: the Loss Mitigation Module and the Mortgage Scores Module.
The Loss Mitigation Module offers servicers, investors and loss mitigation professionals the ability to benchmark and evaluate the effectiveness of loss mitigation efforts. 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.
The Mortgage Scores Module is designed to help mortgage professionals assess industry trends and develop strategies related to operational processes. The tool's 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. The Mortgage Scores Module is integrated with LPS' Behavioral Library solution.
‘Servicers and investors need a reliable source of comprehensive loan-level data to create operational efficiencies and manage risk,’ says 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.’