Estimated household-level total income helps mortgage servicers and investors

Estimated household-level total income helps segment mortgage holders that are more likely to prepay

Better identify mortgage holders that are more likely to prepay

CHALLENGE:

Servicers want more insight into which mortgages are more likely to prepay

Servicers can benefit from additional data that would help identify those mortgages most likely to prepay, supporting their customer retention programs.

Investors can benefit from additional prepayment modeling accuracy provided by estimated current household-level total income.

SOLUTION: 

Income360® provides further differentiation within groups (CCLTV, credit risk, etc.) to segment accounts that are likely to prepay

WHAT IT IS:
Estimated total income measure up to $2 million 

WHY IT’S UNIQUE:
Includes income from wages plus income generated from assets

RESULTS: Analysis showed mortgage holders with high Income360 were up to 7 times more likely to prepay

A backend analysis that examined performing mortgages across a 1-year time period showed the higher the Income360, the HIGHER THE LIKELIHOOD OF PREPAYMENT

Households with Income360 of $2M+ were 7 TIMES more likely to prepay than Income360 of <$50K

$200K+ were 4 TIMES more likely to prepay than <$50K

$100K+ were 2 TIMES more likely to prepay than <$50K

With this insight, servicers can enhance customer retention and investors can better ANALYZE AND PREDICT accounts that are likely to prepay.

Neither these materials nor any product described herein were developed or intended to be used for the extension of credit to any individual, nor may they be used for purposes of determining an individual's creditworthiness or for any other purpose contemplated under the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq.  Prior results not always indicative of future performance.

Results may vary based on actual data and situation.

 
 
 
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