Credit Plus launches new company MortgagePress.comMortgage Works, risk management, loss mitigation
Mortgage Works to assist lenders with risk
Credit Plus Inc. has
announced the launch of a new company, Mortgage Works, providing
a cost-effective approach to helping lenders protect their
portfolios and sort loans, or identifying levels of risk using
enhanced data. Currently, the company has several products in beta
and is expected to launch its full offerings in the near
"Loss mitigation is a real hot button in the industry today,"
said Mortgage Works President Steve Grant. "Now, more than ever,
lenders need assistance in protecting their portfolios and
recognizing signals before a loan goes into default so they can
provide the borrower with solutions."
While Mortgage Works' products and services are currently in
beta, some of the features that are expected to be available
•Property valuation and borrower credit review to identify
refinance opportunities and adjustable-rate mortgage replacement
•Detection of loans with highest risk level of default so
that lenders can proactively reach out to them prior to this
•Protecting a lender's portfolio value by monitoring its
borrowers' behavioral changes on custom-time intervals;
•Monitoring key loan elements to determine when borrowers
become a higher risk; and
•Customization/special needscustomized reports and portfolio
reviews based upon an individual lender's needs.
For more information, visit www.mortgageworksco.com.