ATTOM, a curator of real estate data nationwide for land and property data, says it has integrated propensity to default analytics into its U.S. property data warehouse, expanding the ATTOM Table of Data Elements with another layer of details to enhance market intelligence.
The integration combines ATTOM’s comprehensive foreclosure and mortgage data with Powerlytics – a predictive analytics solution provider with a proprietary database of anonymized tax returns covering over 150 million U.S. households, to score properties across the nation on the likelihood of going into foreclosure.
By joining the ATTOM Data Warehouse – which houses historical property characteristics data along with deed, mortgage, foreclosure and more for over 155 million U.S. properties – 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.
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.
“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,” says ATTOM’s Chief 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.”
