Vendor Automates Foreclosure Risk Monitoring

DepotPoint, Bellevue, Wash., has launched a tool to reduce foreclosure risk, offering lenders a way to closely monitor and get automatic notification of default events.The company's latest addition to its Web-based systems, the TrackPoint Lien Monitoring Alert Service, allows lenders to automatically monitor all lien foreclosures, tax defaults, and bankruptcy filings -- all events that can compromise the timely payment of a loan and increase the chance that a lender's portfolio may suffer considerable financial loss. The company can be found on the Web at http://www.depotpoint.com.