FHA mortgage lenders face unprecedented scrutiny of their regulatory and compliance practices today. Additionally, much of the technology developed over the past decade to address these regulatory challenges has focused on conventional, alt-A, and sub-prime originations—not FHA. In response, The Collingwood Group, a top mortgage industry advisory group, and Motivity Solutions, a leading business intelligence technology provider, recently developed and released NW-Insight, which provides automated access to critical business intelligence on the Federal Housing Administration's Neighborhood Watch database.
The new technology provides FHA mortgage lenders, Ginnie Mae issuers, and warehouse lenders with a combination of easy-to-use web-based analytics, including dashboards and scorecards, to monitor loan performance and to identify and track default trends within an individual organization. It will give those lenders a powerful risk management tool enabling them to manage and monitor the FHA compliance of their businesses or the companies with whom they do business, including the performance of their correspondent lenders and third-party originators. Users can better avoid potential Credit Watch and Direct Endorsement terminations through alerts and ad hoc scenario planning.
"Staying aware and ahead of positive and negative trends in your FHA business performance has never been more critical," said Brian Montgomery, Chairman of The Collingwood Group. He added that the NW-Insight tool provides users with real-time access to relevant Neighborhood Watch data, "so FHA lenders can easily identify areas of vulnerability and more effectively manage risk."
For more information on pricing or to schedule a live demonstration, companies can visit the product website at nw-insight.com.