Lender Processing Services Inc. (LPS), a provider of integrated technology and services to the mortgage industry, has launched Neighborhood Outlook, an easy-to-follow report that provides value forecasts, as well as delinquency and inventory trends for the immediate neighborhood surrounding a specified property.
According to LPS, this tool will help servicers identify and mitigate potential mortgage delinquencies before they occur.
Neighborhood Outlook leverages LPS' analytics models to predict housing supply, delinquencies and foreclosures in the near term for a neighborhood. This information is then combined with information from LPS' deed and assessment database, including recent sales, non-sales and listing cancellations, and real estate owned sales information for the same neighborhood.
Source: Lender Processing Services