AnswerMine Group (Evanston, Ill.) has unveiled the Mortgage Analytics Service, an analytics-based solution for targeted mortgage restructuring, mortgage portfolio valuation and risk management, the vendor announced in a press release.
The new solution aims to help lenders and mortgage servicers target loans that are likely to default for restructuring or modification, based on the predictive value of granular credit data instead of generic credit scores, according to the press release. In addition, the service leverages models that adapt to evolving economic scenarios as modification data becomes available in order to optimize the restructuring process.
"With asset values at historic lows, the ability and willingness of borrowers to pay is a critical factor in portfolio performance," Stuart Cornew, AnswerMine co-founder and managing director, said in the release. "Lenders need more than just FICO scores to understand risk. By analyzing a borrower's credit behavior, AnswerMine provides the basis for a targeted portfolio management strategy to maximize the net present value to lenders and investors."