LPS launches Neighborhood OutlookMortgagePress.comLender Processing Services, Neighborhood Outlook, REO sales information
Lender Processing Services Inc. (LPS), a provider of integrated
technology and services to the mortgage industry, has announced the
launch of Neighborhood Outlook, a robust, easy-to-follow report
that provides forecasts of value, as well as delinquency and
inventory trends for the immediate neighborhood surrounding a
specified property. This tool will help servicers identify and
mitigate potential mortgage delinquencies before they begin.
"The continuing increase in mortgage defaults, foreclosures and
REO inventories demand the origination, capital markets and
servicing industries use more detailed information about properties
and localized market trends in their decision making," said Jon
Davis, managing director of LPS Applied Analytics' Valuation
Solutions group. "A nationwide trend might not always prove true
for a specific neighborhood. In fact, frequently, there are
significant variances from nationwide and even regional trends.
Neighborhood Outlook enables us to drill down to the neighborhood
level to understand a property's current value and its likely
direction in the near future."
Neighborhood Outlook is a unique tool that leverages LPS'
analytics models to predict housing supply, delinquencies and
foreclosures in the near term for a neighborhood. This is then
combined with information from LPS' extensive deed and assessment
database, including recent sales, non-sales and listing
cancellations, and REO sales information for the same neighborhood.
With this, an accurate current price and near-term price can be
determined.
For more information, visit www.lpsvcs.com.
