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Leverage the capability of predictive analytics by incorporating risk-based collection strategies
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The Future of Risk Management
Facing a changing environment due to economic factors, industry consolidation, and a virtual
explosion in alternative mortgage products, the nation's leading mortgage servicers are
turning to predictive analytics and technologies to develop and improve risk-based collections
and loss mitigation strategies throughout the default and REO management process.
Improved Decision Making
Predictive technologies in conjunction with complementing servicing strategies and improved
servicing platforms have allowed larger servicers to lower costs and boost dollars collected
in a time when mortgage servicing is increasingly viewed as a profit center for mortgage
lending institutions.
Traditionally, the implementation of cutting-edge mortgage servicing technology has required a capital investment in systems, software and time. However, for innovative mortgage servicers, Veros offers predictive technologies and advanced risk-based servicing strategies that improve the performance of traditional servicing systems without significant upfront investment.
Benefits of Risk-Based Collections
Benefits that will be realized by utilizing risk-based collections and loss mitigation strategies that employ predictive analytics and techniques include:
- Decreased servicing expenses
- Increased dollars collected
- Improved REO disposition with lower loss severities
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Harness the Power of Predictive Technology
The implementation of predictive technologies will improve decision making and efficiency by providing economic and collateral data that was previously unavailable to support the determination of risk for each delinquent account and the appropriate action necessary to maximize results. These unique data points, when applied in a risk-based collections and loss mitigation strategy, allow servicers to more effectively determine the proper strategy to resolve delinquent accounts and make more accurate determinations relative to foreclosure, charge-offs or loan sale.
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Tools Available in this Solution
- CIA - Accurately identify high-risk properties, market areas, and transactions
- VeroSELECT - Advanced collateral risk management platform
- VeroFORECAST - Provides valuations up to 12 months into the future
- VeroFI - Analyze the potential risk specific to a residential lending transaction
- VeroVALUE AVM - Accurately estimate the value of residential property
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Scoping Out the Future, written by Veros’ Dave Rasmussen
DS News Magazine – February 2008 |
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