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Outsourced Analytics Helps Lenders Survive.
New York -- High default and foreclosure rates are raising demand for more accurate loan data analyses that allow lenders to screen out lower-risk customers as they preserve and even increase loan volume and mitigate loss.
Adventity Inc. CEO Niket Patankar believes his company success in the marketplace so far derives from an integrated approach to lender services.
Helping mortgage lenders originate more loans is just part of what the company does, Mr. Patankar said, the other part is loss mitigation and loan risk analytics.
Current market conditions are pressing lenders to rethink their business strategies in favor of downsizing their business operations, he said, but if they are purely in the mortgage origination business, many lenders have been badly hit by the subprime crisis in the primary and the secondary markets.
"Everybody is affected by that. The trend in the market right now is that of lenders getting out of the marketplace. Large lenders who are going to survive are heavily cutting back on their in house operations. External factors include a home price appreciation that is not in line with what people had seen in the past ... so right now the mortgage market is in a state of loss," Mr. Patankar said.
"In this environment we work with lenders to help them regain their market share at a fraction of the cost, since many have cut back on their head count and core business."
He sees higher lender demand for tools that help ...
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Source: HighBeam Research, Outsourced Analytics Helps Lenders Survive.