Report Shows Servicing Technology on The Rise
Integrated Asset Services LLC, a default management and residential collateral valuations company, released a new report on the state of the mortgage servicing industry. The report focused heavily on technology advances.
The report, "A New Era of Mortgage Servicing: Out of Crisis, Solutions" outlines the latest advancement in valuation technology that has emerged in response to the U.S. foreclosure crisis. Known as "intelligent granularity," the IAS paper asserts this powerful new technology and process brings clarity to value estimates never thought possible.
"Thanks to trend-based information, decisions are already being made on REO, loan modifications, and other workout scenarios from a far more informed perspective," says Ryan Tomazin, president of IAS. "I'm convinced this new technology and the firms utilizing it will lead the way to a more stable and productive mortgage lending industry."
The paper outlines how through raw computing power and proprietary algorithms, innovative mortgage services are producing "trend lines" for virtually any segment of the marketplace. And this new level of granularity is powering next-generation valuation products to look well past the largest metro areas into micro-geographies around the country.
"From a servicing perspective, this knowledge and information should be part of any ongoing strategy, either with the borrower, with the borrower and the property, or just the property," says Tomazin. "We should see the trend line technology integrated all along the continuum, from automated valuation models to reconciliations."