The founders of BasePoint Analytics have partnered with former head of Wells Fargo Ventures to launch PointPredictive Inc., a new loan default risk mitigation company.
Headquartered in Carlsbad, Calif., PointPredictive will offer residential mortgage, rental housing market analytics and other customized analytics for financial entities including mortgage banks, insurers, lenders and servicers.
Its platform offers predictive solutions to manage default and loan loss risk, provide new data insights, and leverage new tools.
The goal is to analyze data and incorporate it into operational processes to help users make more efficient business decisions. It does this by expanding predictive science implementation “beyond just risk and fraud management” to the benefit of their profit growth plans, says Frank McKenna, PointPredictive’s chief strategist and one of BasePoint's founders.
Staff consists of data scientists, business experts and technology gurus, a unique mix that facilitates creative collaboration, he adds.
Recent projects include the development of analytic-based solutions for consumer real estate intelligence, consumer rental screening, property preservation, and risk management.
Market experience was one of the key factors that brought together PointPredictive founders, according to former Wells Fargo Ventures head Joe Jackson.
BasePoint Analytics founder Tim Grace introduced several predictive science-based tools designed to increase home valuation accuracy while at CoreLogic after that company bought his firm. While McKenna, formerly a VP of product marketing at CoreLogic, is credited for launching the Mortgage Fraud Consortium.