Great News - We have even more updated Valuations and a more accurate Servicer Mapping
Updated Valuations: We now have access to updated valuations (BPO, AVM, Full (1004) Appraisals) that are less than 1 year old on:
· 41% of all seriously delinquent loans.
· 91% of all seriously delinquent loans serviced by Ocwen
· 70% of all seriously delinquent loans serviced by Nationstar
· 95% or more of all seriously delinquent loans for 1,223 deals
· 50% or more of all seriously delinquent loans for 2,242 deals
· 55% of all seriously delinquent loans for Subprime 2002-2003 deals
· 51% of all seriously delinquent loans for Subprime 2004-2005 deals
· 43% of all seriously delinquent loans for Subprime 2006 deal
See attached spreadsheet for details at the deal, servicer and pool type/vintage level.
Nationstar now provides lots of loan level data by deal on their ABS Investor Reporting website. For many years, only loan level data on legacy Nationstar serviced deals was available. Today there are over 5,600 separate files and 1,007 files just for the November 2016 distribution. The data is not as extensive as Ocwen REALPortal, but includes updated valuations less than 1 year old on 23,238 seriously delinquent loans. With this addition, we have accumulated updated valuations less than 1 year old on 144,599 out of the 352,957 seriously delinquent loans outstanding.
It is admirable that both Ocwen and Nationstar have become more transparent with their loan level data, however accessing, mapping and making sense of their data is no easy feat. Every problem that can arise from data (several of which we’ve never seen before) have appeared in the files they provide. However, using our decades of programming and data skills combined with our high speed analytic systems hosted on the AWS cloud, we extracted the data and successfully mapped the updated valuations to our RMBS legacy non-agency databases.
Another perk of having access to the Nationstar ABS Investor Reporting loan level data and being able to successfully map it, is we now can definitively know which loans are serviced by Nationstar. Access to Ocwen REALPortal has already provided us this ability for Ocwen serviced loans. Our Servicer mappings have now been updated, incorporated into our analytics and will be distributed upon request.
Contact us at 203-276-0672 to become a client and access all reports and attachments.