According to the Atlanta-headquartered company, the new offering enables servicers to mitigate prepayment risk by applying predictive analytics and event-based insights to market to and retain more of the right customers. Equifax is also providing a single source for verification of loan documentation during the mortgage loan modification process, and the bundle aims to mitigate the risk of loss from defaults and foreclosures while helping reduce the need for unnecessary manual reviews.
"In today's Dodd-Frank era, servicers are faced with a host of operational challenges, such as identifying risk within their portfolio; marketing and retention of performing assets; and efficiently executing operational policies and procedures in accordance with regulatory and compliance guidelines," said Jennifer Henry, vice president and vertical marketing leader for mortgage and housing services at Equifax. "We understand that any of these issues can threaten a servicer's ability to sustain a profitable business model. Smarter insights enable smarter action. With the new Servicing Product Bundle
, we are helping servicers stay ahead of default and prepayment risk and to deepen their relationships with customers."