ScoreText Captures 'Unstructured' Data.(LoanPerformance)

San Francisco -- LoanPerformance here has teamed up with Intelligent Results, Bellevue, Wash., to create ScoreText, a software application that integrates structured data with "unstructured data" that might be gleaned from a lender's portfolio.

Harnessing unstructured data, often gleaned from customer service phone calls, will help lenders better understand and more accurately predict customer behavior related to servicing and collection efforts.

Historically, servicers have identified and prioritized potential problem loans using "structured numeric data," the companies said. Until now, they have not been able to systematically access information and observations generated by other forms of interaction with the borrower.

ScoreText allows mixed-data analytics. This combines free-form text from lenders' and collectors' notes, call centers, customer relationship management systems and borrower e-mails, with structured data from traditional sources such as credit scores, payment histories, loan balances, customer demographics, property record information, collections systems and account master files.

"Today's best predictive models only incorporate about 20% of the available data," said Richard Harmon, senior vice president, scoring analytics and services at LoanPerformance, in a statement released by the companies. "By exploiting the available unstructured data that makes up the other 80%, mortgage servicers can not only improve their ability to predict customer behavior, but can have a much better understanding of the key factors differentiating behavior. We believe many ...