DataQuick has announced the addition of several key content and performance enhancements to its RiskFinder Distress solution, including enhanced tracking of short sales. These additional features provide investors, lenders and servicers expanded distressed property reviews based on a new data algorithm and extended customization. Released earlier this year, RiskFinder Distress delivers an exhaustive monthly tracking of distressed property trends and statistics at the national and local levels.
RiskFinder Distress users can now accurately track short sales in addition to real estate-owned (REO) liquidation and auction sales through expansive nationwide and local sales information. DataQuick also revamped the logic engine driving RiskFinder Distress to provide more accurate overall tracking of distressed properties, resulting in more current and usable data and analysis for users.
RiskFinder Distress now also features an enhanced reporting interface, which provides more flexibility and customization in any output that’s required. These enhanced customization features enable users to make use of new metrics, layouts and reporting technology to create detailed reports tailored to meet their specific needs.
“Short sales can make up as much as a quarter of all sales in a geography,” said John Walsh, president of DataQuick. “With the addition of short sale tracking and more reporting into RiskFinder Distress, lenders, investors and servicers have a valuable tool to evaluate their market or portfolio and make the decisions necessary to enhance profit or reduce risk.”
DataQuick’s RiskFinder Distress allows users to track and analyze key distress events throughout the life cycle of the loan, resulting in a complete picture of distressed property trends. This capability provides investors and lenders with valuable information needed to effectively evaluate risk, determine the impact of distress sales on loss severity estimates, drive loss mitigation strategies and zero in on markets that are starting to recover.
“Offering all of this critical intelligence in an easy-to-use format enables users to boost effectiveness and efficiency of evaluations,” Walsh said. “RiskFinder Distress provides users with the information and analysis tools needed to both highlight past and present trends and forecast future activity.”