The data analytics software streamlines the loan review process and identifies risks
First American Mortgage Solutions has deployed Xtent, a data software for lenders and servicers that offers instant property and borrower analytics.
The offering, according to First American, streamlines the review process and identifies risk. Xtent gives clients access to over 30 configurable data sources of title and lien information, ownership and occupancy, detailed property information, and borrower financial, fraud and compliance risk alerts.
“Xtent will empower lenders and servicers to identify and match relevant data to the corresponding risk decisions,” said Kevin Wall, president of First American Mortgage Solutions. “Instead of combing through multiple reports to find the right information, clients can have everything delivered in one customizable solution.”
Using AI and machine-learning technology, Xtent also provides users with a report summary, as well as actionable alerts and analytics that indicate loan data inconsistencies. This enables lenders and servicers to assess marketing candidates, start origination of a new loan, define account management strategies or facilitate MSR transactions.
“With Xtent, the unique combination of property and borrower information can be assessed at first look, helping to reduce costs, identify portfolio characteristics, and streamline the entire loan review process, so lenders can make risk decisions with ease, efficiency and certainty,” Wall said.
