LoanPerformance Announces Beta Version of TrueStandings™ Servicing
New Web-based Service Provides Performance and Analysis on More Than 40 Million Active Prime and Subprime Mortgage Loans per Month
SAN FRANCISCO, CA - Oct. 13, 2005 – LoanPerformance, a subsidiary of First American Real Estate Solutions (RES®) and a leading data, research and analytics provider for the mortgage industry and Wall Street, today announced the release of the beta version of TrueStandings Servicing, a Web-based analysis and reporting solution for mortgage servicers.
TrueStandings Servicing represents the next generation of LoanPerformance’s prime and subprime information products. TrueStandings provides instant access to delinquency, prepayment and loan characteristics on more than 40 million active mortgage loans and offers additional access to a historical database of more than 100 million loans. Its intuitive interface offers users significant enhancements in performance, data accessibility and analysis capability. New features include:
- ZIP code-level reporting for more granular, localized analysis
- Additional risk metrics for expanded analysis of prepayments and delinquencies
- An interactive mapping feature that enables users to geographically plot metrics and visually identify risk concentration
- An enterprise-class server system that delivers scalable architecture for expanded usage and enhanced performance
- An easy-to-use custom reporting tool that enables users to simultaneously analyze multiple data attributes such as product type, origination year, loan purpose, credit score, conforming versus nonconforming, loan types, risk grade and loan-to-value ratios
- The ability to export to Microsoft® Excel, Adobe® Portable Document Format (PDF) and text files for easy creation of presentation-ready reports or data transfer to other analysis software
Requiring no modification of the user’s network environment and no software installation, TrueStandings Servicing is automatically updated, eliminating the need to receive and manage data deliveries.
”A client-driven evolution of our previous data application, TrueStandings Servicing provides unprecedented reporting and analysis flexibility,” said Dan Feshbach, president and chief executive officer of LoanPerformance. “In responding to our customers’ growing need for more robust analysis, we’ve integrated even more metrics and attributes for the creation of new reports, with a deeper level of granularity, at exceptional performance speed.”
The beta phase of TrueStandings Servicing is expected to conclude in December 2005, with general availability for current and new LoanPerformance clients early in the first quarter of 2006. For a demonstration of the beta version of TrueStandings Servicing, please call the LoanPerformance representative in your area: West: Jim Kinnebrew at (415) 536-3523; Midwest and New England: Charles DiMascio at (909) 593-0141; New York to District of Columbia Corridor: Connie Keim at (973) 226-0084; Southeast: Debra Donan at (908) 304-0263; or National Servicing Solution Sales: Brian Gunn (415) 536-3537.
LoanPerformance, a subsidiary of First American Real Estate Solutions (RES®), the nation’s largest provider of advanced property and ownership information, analytics and services, is a leader in residential mortgage performance data and provides credit risk decision support tools for mortgage originators, servicers, securities issuers and investors. 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 nonagency mortgage and asset-backed securities. The company’s data 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 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 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 contact:
David Schulz
(714) 800-3122
dschulz@firstam.com
