Thursday, December 20, 2007

Equifax touts loan mod solution

(Housing Wire) Equifax Inc. said Wednesday that it has launched a solution to help lenders navigate new guidelines for homeowner assistance created by the recently-announced subprime ARM rate freeze program.

The credit agency’s loan modification solution leverages multiple data sources and analytics that it says help lenders segment their borrower base while also measuring the overall impact on their customers, Equifax said.

“To give lenders the most comprehensive view of their portfolios, Equifax’s loan modification solution leverages income and employment, credit-worthiness and equity position data,” the company said in a press statment. “The resulting information helps lenders segment their account base and develop a systematic solution for transitioning eligible borrowers into affordable mortgages.”

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