ATTOM announced it has integrated propensity to default analytics into its U.S. property data warehouse by joining forces with Powerlytics—a predictive analytics solution provider with a proprietary database of anonymized tax returns covering over 150 million U.S. households.
“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, ATTOM’s CEO. “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.”
ATTOM stated that this integration combines comprehensive foreclosure and mortgage data to score properties across the nation on the likelihood of going into foreclosure. By joining the power of the ATTOM Data Warehouse 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, the company stated.
“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. Enabling industry professionals, the ability to:
- Find homeowners motivated to sell
- Curate targeted marketing lists
- Limit portfolio losses
- Develop mitigation strategies
“With the recent lift 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,” noted 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.”
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