American Banker (06/16/08) P. 10; Berry, Kate
Part of the challenge of delinquent loans is gauging the outlook for local markets, which can help price short sales or dispositions of repossessed property; so mortgage servicers and investors increasingly are tapping into data and analytics to help guide them in this decision-making process. Wilshire Credit Corp., for example, gathers extensive neighborhood data in order to get "a more granular view" than it would get from studying home values in a county or metropolitan area. Countrywide Financial Corp., meanwhile, is pulling more information--such as absorption levels and home prices--out of appraisals; and Integrated Asset Services LLC has developed two new indexes--one that tracks monthly fluctuations in the median home price and other economic conditions in 360 counties and another that analyzes housing data from the previous six quarters to help predict future prices in 15,000 small markets. "The idea was that you can use the data to determine what strategy you take depending on if you're a Wall Street hedge fund looking to unload certain loans or a loss-mitigation executive trying to determine the price of a short-sale," according to Integrated Asset Services President and CEO David McCarthy.
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