|
SAN FRANCISCO, CA - July 26, 2005 - LoanPerformance, a subsidiary of First American Real Estate Solutions (RES®) and a leader in residential mortgage data and analytics, today announced that the latest issue of its MarketPulse report is available for download at www.loanperformance.com.
This latest report features two industry-related studies. The first is by GMAC-RFC entitled: “Delinquency Dynamics: Servicer Effects,” authored by John E. Sjaastad, Jason Vinar, Philip Jones and Jeremy Prahm, all of GMAC-RFC’s Quantitative Systems Development Group. The study examines the role of the servicer in effecting delinquency transition rates. Using data collected by a GMAC-RFC business line that purchased and resolved seasoned, distressed assets, the authors and their colleagues have investigated the differences in transition rates and outcomes between paying and non-paying delinquent loans and also the effects of servicer strategy and operational capabilities on subprime mortgage performance.
The second study, entitled “Why Have Subprime Loans Been Prepaying so Fast?” is authored by Ralph DeFranco of Triad Guaranty and Paul Calem of LoanPerformance. This study explores the recent acceleration of subprime prepayments, offers explanations of the phenomenon and highlights the implications for users of the LoanPerformance RiskModel forecasting tool. In addition, MarketPulse’s regular features explore recent trends for mortgage delinquencies and prepayments.
MarketPulse is a free quarterly report that presents analysis and insight into delinquency and prepayment trends for the prime, subprime, home equity, second liens and mortgage and asset-backed securities markets. Each issue also contains a “RiskView” section with valuable insights from leading thinkers on the prime, subprime and securities mortgage marketplace. The summary data in each issue of MarketPulse is extracted from the LoanPerformance industry-leading mortgage servicing and securities databases. Mortgage industry professionals interested in receiving MarketPulse can sign-up by filling out the electronic form in the MarketPulse section of the LoanPerformance Web site at www.loanperformance.com.
LoanPerformance is a subsidiary of First American Real Estate Solutions and a member of The First American Corporation (NYSE: FAF) family of companies. LoanPerformance’s databases track the delinquency and prepayment performance of 46 million active individual mortgage payments per month and provide loan-level information on more than $1 trillion in non-agency mortgage and asset-backed securities. The company’s data and suite of predictive prepayment and risk modeling solutions enable mortgage originators, servicers, securities issuers and investors to make informed business decisions about credit risk, loss mitigation, customer retention, securitization and investment. For additional information, visit www.loanperformance.com and www.firstamres.com.
The First American Corporation (NYSE: FAF), a Fortune 500 company that traces its history to 1889, is the nation’s largest data provider. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within six primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information, Credit Information and Screening Information. With revenues of $6.72 billion in 2004, First American has 31,000 employees in approximately 2,000 offices throughout the United States and abroad. More information about the company and an archive of its press releases can be found at www.firstam.com.
Media contacts:
Carrie Gaska
714-701-3265
cgaska@firstam.com
John Lewis
202-261-6548
john@campbelllewis.com
|
|
