HELOC/Seconds Database Surpasses 5-Million-Loan Milestone
San Francisco, CA - January 18, 2005 – LoanPerformance, the leader in residential mortgage data and analytics, today announced that their HELOC/Seconds database now contains over 5 million active home equity lines of credit and home equity loans. The database is the mortgage industry’s largest and only commercially-available data repository of these types of loans and lines, providing lenders, servicers, securities issuers and investors with critical performance information to enable better credit risk, pricing, collection, and secondary marketing decisions.
The LoanPerformance HELOC/Seconds database now represents over 80% of bank-owned outstanding loan balances and approximately 60% of the entire U.S. HELOC/Seconds market. Built in partnership with several of the top HELOC/Seconds lenders and servicers and now with ten leading participants, the database provides powerful reporting tools including benchmarking, vintage analysis, utilization and delinquency status, servicing timeline analysis, geographic distribution, product mix, and more. The LoanPerformance HELOC/Seconds database is delivered to clients via Microsoft Excel® through a secure https connection and enables users to mine and analyze data along 35 dimensions by geography, product and other key criteria. The product employs drag and drop pivot tables with easy export to create graphs and maps.
"This milestone reflects the rapid acceptance of our HELOC/Seconds database among the leading originators and servicers of these types of loans. The size and robustness of the database will significantly enhance our client’s ability to more accurately analyze credit trends in their portfolios and for the whole market," said Mark Carrington, director, product management, for information products at LoanPerformance. "This kind of data power, added to an already unique product delivery platform, provides our clients with a real competitive advantage in their pricing and collection strategies."
About LoanPerformance
LoanPerformance is a leader in residential mortgage
performance data and credit risk decision support tools for mortgage
originators, servicers, securities issuers and investors. LoanPerformance’s
industry-standard mortgage servicing and securities databases track the
delinquency and prepayment performance of 46 million individual mortgage
payments per month and provide loan-level information on over $850 billion in
non-agency mortgage and asset-backed securities. LoanPerformance’s proprietary
databases and suite of predictive prepayment and risk modeling solutions enable
clients to make informed business decisions about credit risk, loss mitigation,
customer retention, securitization and investment. For more information, call
415-536-3500 or visit www.loanperformance.com.
©2005, LoanPerformance. All Rights Reserved.
Media contact
John Lewis
Campbell Lewis Communications
202.261.6548
john@campbelllewis.com
