Fiserv Tech Looks to Prevent Defaults

Fiserv Inc., Brookfield, Wis., has released "pre-emptive mortgage default resources" that enable financial institutions to identify and contact troubled borrowers with customized repayment options. The resources, Predictive Risk Index Score Modeling and Home Retention Solutions, focus on helping financial institutions forecast delinquencies before defaults occur and provide expanded customer care to offer refinancing and negotiate workable resolutions. The PRISM analysis classifies at-risk assets into tiers, taking into consideration many data points, including the Fiserv Case Shiller Home Price Index, loan servicing data, risk grade and credit, collateral, and overall risk scores. After an analysis is complete, financial institutions may decide to have Fiserv perform more detailed loan-level risk analyses on identified accounts. This process requires no additional information from the financial institution and leverages the use of the PRISM data along with automated valuation models and other sources, the company said. Fiserv default management experts then review the findings and recommend steps financial institutions can take to mitigate loss and help borrowers remain in their homes. The company can be found on the Web at http://www.fiserv.com.