First American Mortgage Solutions has introduced equiRisk, a data report for home equity originations that uses First American’s proprietary data assets.
The report combines ownership, real estate tax, and open voluntary and involuntary lien data as well as vesting deed documents. equiRisk differs from traditional property reports by pulling from multiple proprietary and third-party data sources to create a comprehensive borrower profile and risk assessment within a single, consolidated structure.
“By levering the most complete and accurate information, underpinned by First American’s unmatched data, equiRisk enables lenders to maximize business opportunities and minimize risk like no property report can,” First American Mortgage Solutions President Kevin Wall said.
Through an at-a-glance analysis summary, equiRisk calls out potential higher risk data and provides hyperlinks directly to the report section for deeper review. Information on property type, listing status, homeowner association data, other owned properties, identity/SSN discrepancies, and Watchlist and FEMA checks are already presented in the report.
The new offering is part of the company’s equiSolutions suite of products covering the home equity mortgage lifecycle.