TransUnion (NYSE: TRU) is now offering TruVision Consumer Property Insights for Portfolio Management, a new tool designed to protect lenders and borrowers from the potential risks associated with property value fluctuations.
According to the Chicago-headquartered company, the TruVision Consumer Property Insights for Property Management provides lenders with an array of insights including combined-loan-to-value on each property a consumer owns. It also includes characteristics of those properties to help mortgage and home equity lenders gain a deep understanding of the underlying asset securing the mortgage or home equity loan.
TransUnion added its proprietary algorithm links property lien data with the corresponding tradeline, enabling it to deliver more accurate information about the underlying asset by using an actual value for the amount owed on the property instead of an estimated or derived value. This linking enables TransUnion to provide information about all properties (up to five) owned by a consumer instead of only the property for which the lender might have a mortgage or home equity loan, thus enabling deeper property value insights in the lender’s portfolio.
The tool is also designed to provide a better understanding of risk for all properties that consumers in a portfolio have in order to make more proactive and informed portfolio decisions. This helps customers identify early warning signs in property values based on property activity, as well as implement a risk management plan to address significant shifts in market conditions.
“Both macro and microeconomic conditions and fluctuations can dramatically impact the value of a property, putting mortgage and home equity borrowers and lenders at risk,” said Satyan Merchant, senior vice president, auto and mortgage business leader at TransUnion. “Having access to current property value insights for portfolio management can help lenders determine the risk of the property values in their portfolio to manage risk exposure. We believe this solution significantly increases TransUnion’s value proposition for its already robust portfolio management solutions and will position TransUnion as a market leader insofar as understanding the needs of the mortgage industry.”
;
