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Using Technology to Manage Risk Special Report.(Brief Article)
With the economy slowing down and loan delinquencies creeping up, lenders are turning to technology to help take the sting out of missed payments. Traditionally, it is estimated that while delinquent loans only account for about 3% of a lender's portfolio, they account for about a third of servicing costs.
Managing problem loans will always be labor intensive. But technology is helping lenders manage collections and loss mitigation more effectively. Mortgage insurance firms, Fannie Mae and Freddie Mac have all created systems to help lenders aim their collection efforts at the riskiest borrowers and optimize loan recovery prospects when loans default. But that is only part of the story.
Technology can help lenders manage other kinds of risk as well. For instance, hedging and portfolio retention strategies have increasingly come to rely on sophisticated modeling tools that allow lenders to determine the value of their portfolio and what can be done to protect that value.
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Source: HighBeam Research, Using Technology to Manage Risk Special Report.(Brief Article)