Clayton Holdings, a Shelton, Conn.-headquartered provider of due diligence, surveillance and special servicing for Wall Street, banks and investors, has entered an agreement with Experian, a global information services company, to provide analytics and outsourcing services to the mortgage and securitization industries designed to improve transparency, predictability and loss mitigation.
According to the companies, the cooperation will leverage Experian's data assets and predictive analytics, currently relied upon in the primary markets, to assess and mitigate risk in the secondary market. The first anticipated offering will enable loan servicers to more efficiently manage the growing challenge of loan modifications.
The offering is designed to help servicers determine borrower eligibility for the rate freeze modifications recommended under the plan proposed by Secretary of Treasury Paulson. It will identify rate-freeze candidates, and, if requested, provide turnkey fulfillment services to contact the borrowers and secure their agreement with the loan modifications.
Servicers can also outsource the counseling and processing of refinance opportunities for borrowers eligible for Federal Housing Authority (FHA) and other refinance programs.