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Industry News

First American LoanPerformance Announces Major Enhancements to Its RiskModel Analytics Solution

March 7, 2007

SAN FRANCISCO,-- First American LoanPerformance has unveiled the availability of the latest version of its RiskModel analytics solution for forecasting future mortgage prepayments, defaults, losses and projected cash flows. Highlights of the new release include:

New Subprime Models

  • Expanded subprime prepayment and early delinquency models to reflect the changing dynamics of the subprime mortgage market.
  • Increased precision in capturing prepayment sensitivity for adjustable-rate mortgage loans subject to interest-rate resets.
  • Refined prepayment model to more accurately forecast the influence of prepayment penalties on prepayment speeds.

New Application Programming Interface (API)

  • A Windows®-based API facilitates the seamless integration of
    RiskModel into a client's internal business processes, systems and
    third-party applications, providing significant efficiencies in time
    and decision quality.
  • New Open Database Connectivity (ODBC) and OLE-DB (Microsoft® API)
  • API easily accepts data from any ODBC-compliant source or any
    OLE-DB-compliant source, and can be accessed via C++ and other
    programming languages or directly through command line prompts.

New Home Equity Model

  • A newly developed forecasting and simulation tool with econometric
    transition models projecting utilization, default, and prepayment
    behavior for home equity lines of credit is integrated into the model,
    which is available in a Windows-based API format.
"This version of the RiskModel significantly increases the precision of our clients' pricing and loss reserve-setting practices," said Dan Feshbach, chief executive officer and president of First American LoanPerformance. "By integrating both API and database connectivity, our clients will now have a tremendous opportunity to upgrade the speed and control of their mortgage risk assessment processes."

RiskModel is the leading commercially available solution that simultaneously considers both prepayment and default risk while integrating the effects of borrower behavior, interest rate fluctuations and housing price movements on residential mortgages. RiskModel contains multiple statistical models that can be used with prime, alt-A, nonprime loans and home equity lines of credit. By enabling institutions to more accurately set loan loss reserves, RiskModel performs a full spectrum of risk management processes including: portfolio grooming, risk-adjusted pricing, cash-flow projections, valuation of securities or insurance, loss mitigation, asset and liability management and hedging, and the negotiation of appropriate coverage on securitization and guaranty fees. The model's ability to perform multiple scenarios using thousands of possible future paths for interest rates and housing prices has made the RiskModel the predictive technology of choice for the nation's largest banks, thrifts, and mortgage securities issuers.

Source: The First American Corporation

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