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Ellie Mae sponsors corporate volunteer day and helps build green Habitat home in Oakland

National Mortgage Professional
May 08, 2008

Credit Plus launches new company MortgagePress.comMortgage Works, risk management, loss mitigation Mortgage Works to assist lenders with risk management 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 future. "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 include: •Property valuation and borrower credit review to identify refinance opportunities and adjustable-rate mortgage replacement strategies; •Detection of loans with highest risk level of default so that lenders can proactively reach out to them prior to this occurring; •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.
Published
May 08, 2008
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