ORLANDO, Fla., Feb. 24,
2020 /PRNewswire/ -- Equifax Inc. (NYSE: EFX)
today 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.
"In today's Dodd-Frank era, servicers are faced with a host of
operational challenges, such as identifying risk within their
portfolio; marketing and retention of performing assets; and
efficiently executing operational policies and procedures in
accordance with regulatory and compliance guidelines," said
Jennifer Henry, vice president and
vertical marketing leader for mortgage and housing services at
Equifax. "We understand that any of these issues can threaten a
servicer's ability to sustain a profitable business model. Smarter
insights enable smarter action. The new product bundle empowers
servicers with the right data and analytics, providing the insight
and confidence servicers need to help anticipate and capitalize on
fast-moving market opportunities."
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.
"With the new Servicing Product Bundle, we are helping servicers
stay ahead of default and prepayment risk and to deepen their
relationships with customers," continued Henry. "This new offering
is just one of the ways that we are working to drive value for our
customers -- providing flexible solutions that meet the specific
needs the servicing ecosystem faces today."
The Mortgage Servicing Product Bundle from Equifax is available
now. For more information, please visit:
equifax.com/mortgageservicing.
ABOUT EQUIFAX INC.
Equifax is a global data,
analytics, and technology company and believes knowledge drives
progress. The Company blends unique data, analytics, and technology
with a passion for serving customers globally, to create insights
that power decisions to move people forward. Headquartered in
Atlanta, Equifax operates or has
investments in 24 countries in North
America, Central and South
America, Europe, and the
Asia Pacific region. It is a
member of Standard & Poor's (S&P) 500® Index, and its
common stock is traded on the New York Stock Exchange (NYSE) under
the symbol EFX. Equifax employs approximately 11,000 employees
worldwide. For more information, visit Equifax.com and
follow the company's news
on Twitter and LinkedIn.
FOR MORE INFORMATION
Kate
Walker for Equifax USIS
404-885-8058
MediaInquiries@equifax.com
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SOURCE Equifax Inc.