Skip to main content

DepotPoint Releases DataConnect Business Intelligence Tool

NationalMortgageProfessional.com
Feb 23, 2011

DepotPoint Inc., a provider of default servicing workflow solutions, has announced the availability of DataConnect, a new business intelligence tool that allows lenders, servicers and asset managers to aggregate and analyze data from multiple sources, improving visibility and transparency to their default servicing operations. DataConnect provides an efficient means of aggregating and interpreting data from different sources about a property, as well as any other supplemental statistics or datasets that are relevant to the property. The result is a singular, comprehensive view into the meaning of all data associated with a default asset, thus enabling improved reporting capabilities and insight into the efficiency of the enterprise. “In a typical default scenario, various parties are often talking to each other from their own perspective when it comes to information about the underlying real estate asset," said Joe Filoseta, DepotPoint president and chief executive officer. "As a result, meaningful data is often neglected or underutilized. DataConnect opens up the playing field for servicers, asset managers and their business partners. It’s about providing greater business intelligence for all facets of managing defaults.” By having more complete information from a wide variety of sources immediately available through DataConnect, managers and other stakeholders can make better decisions about their assets and report in any format required by other parties in the transaction. DataConnect provides a centralized information path to reduced severity, faster resolutions and significantly improved financial results for servicers. “Finding the best possible outcome for every mortgage default, particularly in the current economic environment, is difficult enough,” said Filoseta. “Anything that makes asset management smarter and more efficient benefits the entire industry, and that means innovative solutions like DataConnect that provide visibility to an enterprise’s overall performance and requirements for reporting both internally and externally.” DataConnect is available in conjunction with DepotPoint’s TrackPoint platform, a workflow-driven, enterprise-class technology solution for servicing non-performing loans (NPLs). TrackPoint features an innovative workflow engine that assists users through each step of a transaction, whether short sale, deed-in-lieu of foreclosure or REO. TrackPoint assigns, automates, schedules and tracks each task in that workflow, including service delivery performance of third party providers, thereby keeping all stakeholders on track and avoiding delays. TrackPoint is deployed as a Web-based, software-as-a-service (SaaS) platform and supplements the capabilities of in-house servicing systems. For more information, visit www.DepotPoint.com.
Ocwen Financial To Acquire Reverse Mortgage Servicing Platform

Ocwen Financial Corporation's wholly-owned subsidiary, PHH Mortgage Corporation will acquire RMS' reverse mortgage servicing platform.

Industry News
Jun 18, 2021
UniteCT Emergency Rental Assistance Succeeds

Thanks to the successful launch of the UniteCT program, emergency rental assistance funds are helping Connecticut residents maintain housing.

Industry News
Jun 17, 2021
Angel Oak Mortgage Announces Initial Public Offering

Angel Oak Mortgage announced its initial public offering of 7,200,000 shares of its common stock at $19 per share.

Industry News
Jun 17, 2021
Mortgage Apps Rebound After Three Consecutive Weeks Of Declines

The Mortgage Bankers Association reported the first increase in mortgage applications after a three consecutive weeks on declines.

Industry News
Jun 17, 2021
CFPB New Rule Prevents Predatory Lending To Military Service Members

The CFPB stipulates its authority to examine supervised financial institutions for risk to active duty servicemembers and their dependents.

Industry News
Jun 16, 2021
Inventory Begins A Slow Recovery

Inventory grew 3.9% from April to May, according to Zillow's latest Market Report, after a year of steady decline.

Industry News
Jun 16, 2021