Equifax Supports Financial Institutions Throughout Loan Servicing Lifecycle With New Mortgage Servicing Product Bundle
Fully Customizable Servicing Product Bundle Empowers Lenders with the Data and Analytics They Need to be Confident in Decisions, Mitigate Risk, Identify Opportunities and Increase Operational Efficiencies
Equifax Inc. (NYSE: EFX) announced from the Mortgage Bankers Association (MBA) Servicing Solutions Conference & Expo the availability of a new Mortgage Servicing Product Bundle.
This Servicing Product Bundle is a fully customizable package of Equifax solutions designed to support financial institutions throughout the loan servicing lifecycle. It is designed to empower lenders with the data and analytics they need to combat issues ranging from mitigating delinquency risk and identifying portfolio retention strategies to increasing operational efficiencies with non-performing loans.
Traditionally, servicers have relied on a number of disparate in-house and third-party solutions to manage critical functions. By consolidating core solutions, servicers can gain significant operational efficiencies. The Servicing Product Bundle can be customized to fit a wide range of servicers’ needs, allowing financial institutions to choose the Equifax solutions that best match their business for maximum operational efficiency.
The full Mortgage Servicing Product Bundle from Equifax supports:
- Marketing and Retention
Servicers must identify opportunities in their portfolio to refinance and head off portfolio runoff related to customers refinancing with the competition. Equifax is helping servicers mitigate prepayment risk by applying predictive analytics and event-based insights to market to and retain more of the right customers. - Portfolio Management
Servicers require more than raw data. They are looking for more digestible and actionable insights that can be easily interpreted. Servicing solutions from Equifax help accurately identify and help mitigate risk with leading indicators by utilizing differentiated and predictive information obtained from the source. - Loan Modification
Servicers must maximize operational efficiencies during modifications. Equifax offers a single source for verification of loan documentation during the mortgage loan modification process. - Default and Foreclosure
Increasing operational efficiencies with non-performing loans remains of high importance to servicers. Solutions within the product bundle help to mitigate the risk of loss from defaults and foreclosures while helping reduce the need for unnecessary manual reviews.
The Mortgage Servicing Product Bundle from Equifax is available now. For more information, please visit: equifax.com/mortgageservicing.
Source: Equifax Press Release
