Feb. 7, 2023 (Staff Writer)- ATTOM, a leading curator of real estate data nationwide for land and property data, today announced it has integrated propensity to default analytics into its U.S. property data warehouse. With this news, the ATTOM Table of Data Elements expands even further with yet another layer of details to enhance market intelligence, while enabling various industries powerful investment insight and mitigation strategies.
This integration combines ATTOM’s comprehensive foreclosure and mortgage data with Powerlytics – a predictive analytics solution provider with a proprietary database of anonymized tax returns covering over 150 million U.S. households, to score properties across the nation on the likelihood of going into foreclosure.
“What started as a focus in fueling real estate industry customers with premium property data, has exploded into powering various industries across all spectrums,” said Rob Barber CEO at ATTOM. “In today’s volatile housing market, being armed with predictive analytics that will allow real estate investors, brokers, mortgage servicers, and more the ability to zero in on properties that have the highest probability of going into foreclosure, is essential for competitive data-driven decision making.”
By joining the power of the ATTOM Data Warehouse – which houses historical property characteristics data along with deed, mortgage, foreclosure and more for over 155 million U.S. properties — with Powerlytics’ consumer and business financial data, and then applying machine learning techniques, a propensity of default score for properties across the nation is accurately predicted.
“We are excited to leverage Powerlytics proprietary dataset to deliver insights and value across the residential real estate ecosystem,” said Powerlytics CEO, Kevin Sheetz. “Combining our accurate, granular and comprehensive financial data and predictive modeling expertise with ATTOM’s rich property insights proved to be a powerful combination in predicting mortgage default propensity.”
This proprietary model identifies the probability that a residential property will become a mortgage default (aka pre-foreclosure) within the next 12 months and allows customers to zero in on the properties that have the highest propensity to default. This information can enable industry professionals the ability to:
- Find homeowners motivated to sell
- Curate targeted marketing lists
- Limit portfolio losses
- Develop mitigation strategies
“With the recent increase in foreclosures across the nation, insights into the financial health of homeowners offers a powerful and unique solution for understanding who might be in distress,” notes ATTOM Chief Product & Technology Officer, Todd Teta. “Along with the value of a home and a homeowner’s equity position, the overall financial health of the homeowner creates a full picture of the borrower’s willingness and ability to stay current on their mortgage and out of default. Combining these data points yields a much more predictive solution than the individual data points do on their own.”
About ATTOM
ATTOM provides premium property data to power products that improve transparency, innovation, efficiency, and disruption in a data-driven economy. ATTOM multi-sources property tax, deed, mortgage, foreclosure, environmental risk, natural hazard, and neighborhood data for more than 155 million U.S. residential and commercial properties covering 99 percent of the nation’s population. A rigorous data management process involving more than 20 steps validates, standardizes, and enhances the real estate data collected by ATTOM, assigning each property record with a persistent, unique ID — the ATTOM ID. The 30TB ATTOM Data Warehouse fuels innovation in many industries including mortgage, real estate, insurance, marketing, government and more through flexible data delivery solutions that include bulk file licenses, property data APIs, real estate market trends, property reports and more. Also, introducing our newest innovative solution, that offers immediate access and streamlines data management – ATTOM Cloud.
About Powerlytics
Powerlytics provides the most comprehensive, accurate and granular consumer and business financial data available in the U.S. Our proprietary big data analytics platform provides a comprehensive financial view of the over 200 million adults and 33 million businesses that comprise the American economy. Major U.S. corporations and financial services providers are using Powerlytics’ data and solutions to stay on the cutting edge with predictive analytics, frictionless verification and estimation of consumer income, consumer wealth and business revenue, enhance digital and direct marketing for both consumers and businesses, manage risk with both individual business and consumer customers and portfolios and benchmark performance. Visit www.powerlytics.com for more information.
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