A New Way to Look at Mortgage Risk
Denver-based BlackBox Logic has developed a database of more than 21 million mortgages not backed by Fannie Mae, Freddie Mac, or other government-sponsored agencies.
The upstart scrutinizes raw loan data from trustees and issuers, flagging such information as whether a borrower is behind on payments or has a modification. It then blends that loan information with other databases that provide a credit score for the borrower and an estimate of residential value.
BlackBox says it offers its data to the average user at half the cost of FirstAmerican Core Logic’s Loan Performance, the industry’s leading player.
Source: Denver Post, Aldo Svaldi (02/10/2010)
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