Mortgage Pass delivers groundbreaking predictive analytics to help determine the real fraud risk associated with each conforming (qualifying) and non-confirming mortgage application. Applications are rank ordered based on the statistical propensity that an application contains material fraud or a misrepresentation that is likely to result in severe delinquency or payment default. We do this by leveraging application, loan, and servicing data in combination with the nation’s largest real estate data repositories, third party online behavioral data, and the proprietary Point Predictive historical origination data consortium to improve fraud detection rates and reduce false positives. Output indicators are then used to prioritize a deeper loan review.
How It Helps
- Automates up to 30% of loans for streamlining and fast tracking funding.
- Identifies 10% of loans that result in 50% of losses and repurchases.
- Reduces false positives by 60% or more over current solutions.
- Reduced underwriting expense by allowing low risk loans to be routed for a streamlined review and reduced underwriter expense.
- Reduces loss by identifying high risk loans for routing for a more comprehensive risk review before funding.
The Mortgage Payoff Propensity model delivers scores and reason codes to rank order the propensity for a homeowner in a mortgage portfolio to take advantage of a new home finance offer, whether that be a refinance, an HELOC, or a new mortgage for a different property.
Using application, loan, and servicing data in combination with the nation’s largest real estate data repositories, third party online behavioral data, and the proprietary Point Predictive historical origination data consortium, the Mortgage Payoff Propensity model accurately and cost-effectively prioritizes those homeowners to receive an offer for a new financing product. The model output is used to drive marketing and offer strategy as well as selecting the right homeowners to be targeted for specific offers to improve conversion rates.
The Portfolio Loss – Non-Recaptured Loan Payoff solution identifies the disposition of a residential mortgage loan and determines whether the loan has been paid off by the homeowner, refinanced, or if the property was sold.
In addition to providing the status of a new loan, where appropriate, the solution also provides supporting information on the loan including new loan program, rate,
and lender. Partnering with third party data providers, Point Predictive has access to the nation’s largest repository of real estate information, which provides a level of insight previously unavailable to servicers.
This insight drives new product strategy and better investor communications.
The custom application can scan entire portfolios using customized datasets to identify homeowners that qualify for specific loan programs or offers.
Identifies homeowners that are target leads for specific offers or loan programs. For example, a loan portfolio can be screened to identify permanent resident aliens with valid social security numbers who may be eligible for special products through the Federal Housing Administration (FHA).