How FirstClose can help:
Risk Alert is a full-service, end-to-end lien monitoring solution that offers one-time or ongoing monitoring of specific loans, equity position or entire loan portfolios. Risk Alert is designed to scan loan records and quickly identify over 15 key risk attributes related to the collateral property. This product gives lenders an insightful overview of the current health of their portfolio as well as identifying risk areas.

How does it work?
After lenders submit a list of property records to be evaluated, our team processes the information within 2-3 days and provides a high level summary of the portfolio health. FirstClose also delivers the raw data output containing 225 unique datapoints per property record, including the following key lien-related alerts that could negatively impact a lender’s portfolio:

• Foreclosure/default activity
• Tax delinquency
• Bankruptcy
• ARM reset
• Lien status changes
• Value changes
• New liens and shotgun mortgage
• MLS listings
• Ownership changes
• Liens and Judgments

Why Use It?
This information will help tremendously in proactive risk and default management. Lenders will be able to quickly identify loans that require immediate action and allow them to create a plan to avoid default, foreclosure or charge-off.

Want to learn more?

Schedule a discussion with our team today.

Client | FirstClose’s unique, comprehensive solution provides an effortless way to process all home equity loans and home equity lines of credit.

David Lancaster, VP of Lending, Pen Air