Re-decisioning Key to Industry Recovery?

Overture Technologies, Bethesda, Md., says it believes it has found a way for the industry to return to profitability by extending the role of automated decisioning beyond underwriting. Overture says there is an opportunity to leverage product and pricing eligibility -- as well as rules-managed decisioning in the post-closing, capital markets, loan modifications, and many aspects of loan servicing -- to improve loss mitigation. With the added transparency and consistency provided through automated decisioning, investors can improve upon best execution as well as pooling and securitization efforts, said Linda Simmons, senior vice president of business development for Overture, at the Mortgage Bankers Association National Secondary Market Conference & Expo in Boston. Lenders continually re-decision loans well beyond underwriting, but often have limited data and documents and rarely use an automated decisioning system. Overture says its product offering is one way to help evaluate the growing level of loans requiring review by offering a new approach via its Mozart Decision Engine and Tape Cracker data analysis tool to derive the true market value of such loans. Overture can be found on the Web at http://www.overturetechnologies.com.