MDA Lending Solutions Automatically Values Residential Property Default Collateral

Collateral Validation Reduces Cost, Time Associated with Portfolio Management Process

WILMINGTON, Del.--(BUSINESS WIRE)--MDA Lending Solutions, a provider of advanced information solutions to the real estate lending industry, announced the introduction of MDA DataQuick’s Collateral Validation. The most recent addition to MDA Lending Solution’s Collateral Risk Management platform, Collateral Validation automates the valuation reconciliation process, enabling users to more accurately review individual loans and make better informed decisions regarding default or acquisition strategy.

“In today’s market, servicers are in need of data and analytics that enable them to quickly and accurately value collateral, so they can make informed decisions on which properties are best candidates for adjustments, modifications, work-out or short sale”

Collateral Valuation, a more comprehensive approach to collateral reconciliation brings all of the data needed to make decisions on individual loans together in an accurate, easy-to-use and configurable solution. Collateral Validation enables servicers and lenders to manage the rising volume of default collateral with historical data to support the valuation.

“In today’s market, servicers are in need of data and analytics that enable them to quickly and accurately value collateral, so they can make informed decisions on which properties are best candidates for adjustments, modifications, work-out or short sale,” said John Walsh, president of MDA Lending Solutions’ DataQuick division. “Because risks are so high, servicers are unwilling to relegate the decision on market value to an AVM or to incur significant expense on traditional BPO or appraisals. Servicers need a tool that helps support loan workout decisions, while managing unprecedented workloads. Collateral Validation allows users to reduce risk and save money by better understanding the properties in their loan portfolios.”

Collateral Valuation also includes a forecast, which provides servicers with the projected market value of the property for the next 30, 60 or 90 days. The tool utilizes MDA DataQuick’s proprietary Neighborhood Level Housing Price Index (HPI), which collects complete real estate and sales data from across the country. The HPI drills the data down to the ZIP+1 or 2, providing lenders with trends and forecasts at the most local level, compared to the industry standard of County-level data.

A full Collateral Valuation report includes market value, HPI trending and other supporting property information to help automate the valuation review and reconciliation process. By incorporating industry best practices with MDA DataQuick’s property data, lenders can quickly evaluate individual loans and better prioritize and execute their default strategies.

About MDA Lending Solutions, Inc.

Wilmington, Del.-based MDA Lending Solutions provides advanced information solutions that can improve the decision making and operational performance of customers by reducing the time, cost and risks involved in real estate transactions. The company offerings include MDA DataQuick®, MDA MindBox® and traditional settlement services, such as collateral valuation, title and property search, flood compliance, residential credit and closing/settlement products. For more information, visit www.mdasolutions.com or call [phone].

MDA DataQuick® offers a wide range of information including property history and characteristics, sales and loan information, market valuation and neighborhood information. For more information, visit www.dataquick.com or call (888) 604-DATA.

MDA MindBox® is a leading provider of advanced decisioning solutions featuring automated rules-based decisioning technology that optimizes customer interactions and streamlines back-end workflow and business operations for the mortgage lending community. For more information, visit www.mindbox.com or call (877) 650-MIND.