DataQuick has expanded the availability of its pre-foreclosure intelligence from 156 U.S. counties to 872 counties—significantly enhancing distressed property analysis capabilities for originators, risk managers and servicers. DataQuick’s pre-foreclosure intelligence includes comprehensive details on Notice of Default, Notice of Trustee Sale and Lis Pendens (LP) transactions. The addition of pre-foreclosure intelligence to general property and market data nearly doubles the number of transactions currently available to property evaluators which will allow them to deliver more accurate valuations for both distressed and non-distressed properties. The expansion also helps streamline the origination, lending and servicing process by providing enhanced predictive valuation models and a more comprehensive local market appraisal analysis.
“Distressed properties still have a huge impact on property valuations as well as the strategies lenders, servicers, and investors deploy to make effective loan-level and portfolio management decisions,” said John Walsh, president of DataQuick. “Our expanded pre-foreclosure content helps further fuel these strategies and better provide the information needed for making the most accurate property valuations.”
Integrated into the existing structure of DataQuick’s National Property Database, the expanded pre-foreclosure coverage will also be combined with the company’s extensive database of REO transactions to provide an end-to-end view of distressed activity. As with all DataQuick property data, the expanded pre-foreclosure intelligence is subject to stringent quality control requirements to ensure the highest level of accuracy.
“Our goal is to provide the most convenient access to the highest level of property data in the market,” continued Walsh. “By structuring the new content in the same format as our existing pre-foreclosure data, we are ensuring seamless integration into existing systems for easy access to more of the quality property data and analysis our customers have come to expect from DataQuick.”