MDA DataQuick Updates Collateral Validation In Response To Reg Z

Posted by Orb Staff on July 09, 2010 No Comments
Categories : Residential Mortgage

taQuick, a division of MDA Lending Solutions, has updated its Collateral Validation, which is a part of the company's Collateral Risk Management platform. The announcement was made at the California Mortgage Bankers Association's 38th Annual Western Secondary Market Conference in San Francisco. Regulation Z, designed to protect consumers, requires lenders to supply detailed documentation when freezing a borrower's line of credit. MDA DataQuick says its Collateral Validation aids lenders by offering ample data in an easy-to-read format that supports the valuation decision. "In today's market, lenders and servicers are in need of data and analytics that enable them to quickly and accurately value collateral," said John Walsh, president of MDA DataQuick. "By automating the valuation reconciliation process, our Collateral Validation tool lets users continually monitor performance, customize reports and make informed decisions regarding which properties are candidates for adjustments, modifications, workout or short sale." A full Collateral Validation report includes market value, home price index trending and other supporting property information to help automate the valuation review and reconciliation process. SOURCE: [link=http://www.dataquick.com ]MDA DataQuick

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