LoanPerformance Tests 'TrueStandings Servicing'
Loan Performance, a subsidiary of First American Real Estate Solutions that provides data, research and analytics for the mortgage industry and Wall Street, has released the beta-test version of a new Web-based analysis and reporting tool for mortgage servicers.
LoanPerformance said that the service, TrueStandings Servicing, represents the next generation of the company's prime and subprime loan information products.
TrueStandings provides instant access to delinquency, prepayment and loan characteristics on LoanPerformance's database of more than 40 million active mortgage loans and offers additional access to a historical database of more than 100 million loans, the company said.
New features include ZIP code reporting for more localized analysis; additional risk metrics for analysis of prepayments and delinquencies; interactive mapping; an expanded enterprise class server for expanded usage and enhanced performance; a custom reporting tool that allows users to simultaneously analyze multiple data attributes such as product type, origination year, loan purpose, credit score, loan types, risk grades and loan-to-value ratios; and the ability to export Microsoft Excel, Adobe PDF and text files for easy presentation-ready reports or data transfer to other analysis software.
LoanPerformance said that TrueStandings requires no modification of the user's network environment and no software installation.
Dan Feshbach, president and CEO of LoanPerformance, said in a press release that TrueStandings is a "client-driven evolution of our previous data application.
"In responding to our customers' need for more robust analysis, we've integrated even more metrics and attributes for the creation of new reports, with a deeper level of granularity, at exceptional performance speed."
The beta phase of TrueStandings Servicing is expected to conclude in December, with general availability for current and new clients beginning in the first quarter of next year.
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