Lender Processing Services, Inc. has launched the McDash Loan Data module, a new analytical tool designed “to provide an indication” of loan-to-value for residential housing nationwide.
LPS applied analytics experts said the goal is to assist “anyone whose business is impacted by fluctuations in property value.”
Every month LPS retrieves information from its McDash database to report on loan-level data from nearly 40 million first-lien mortgage loans and updated views of a borrower’s equity.
The new McDash Loan Data module uses public records information about second liens--such as home equity loans and lines of credit—and the analytic capabilities of the LPS Home Price Index to provide current LTV reports.
LPS said the new module provides “supplemental property-specific information,” including previous sale prices, price fluctuations since origination and current combined LTVs.
It was created to serve as a “one-stop shop” tool for financial services firms at large and especially mortgage lenders and servicers.
According to company data, the Jacksonville, Fla., based provider of mortgage performance data, analytics and integrated technology, including its mortgage-servicing package, services approximately 50% of all U.S. mortgages by dollar volume.
LPS said it expects the McDash Property Module will serve servicers best by managing portfolio risk and capital markets investors and by offering timely coverage of housing market values and mortgage portfolio performance.
Mortgage servicers can identify mortgages that have negative equity and may be at risk of strategic default and accordingly prioritize their loss mitigation efforts.
