KDnuggets : News : 2005 : n02 : item19 < PREVIOUS | NEXT >

Briefs

KXEN Analytic Framework Selected by LoanPerformance to Support PreTell Prepayment Scores

Leading mortgage data provider expanding analytic service offerings  

SAN FRANCISCO/ LONDON, JANUARY 18, 2005 - KXEN, a global provider of predictive and descriptive analytics software, announced today that it was chosen by LoanPerformance to provide the underlying technology for the company's new PreTell mortgage prepayment scoring system. LoanPerformance is the leading data and analytics provider to the mortgage industry.  

Utilizing the KXEN Analytic Framework, PreTell provides a numeric score on an index of zero to 1,000 that predicts the likelihood of an individual loan prepaying within a six-month forecast window.  

"KXEN's proven technology platform enabled us to exploit our databases and analytic expertise to maximum advantage delivering a powerful solution to our clients," says Richard Harmon, Ph. D., senior vice-president, scoring analytics and services at LoanPerformance. "For the first time, institutions will have a common method for evaluating and quantifying near-term, loan-level prepayment risk embedded in their servicing and investment portfolios. This is a tremendous competitive advantage."   In addition to predicting the overall likelihood for a loan to payoff, PreTell provides Refinance and Mover scores that measure the likelihood for the payoff being a refinance or a home sale, respectively. Because different factors drive the decision to move or refinance, mortgage lenders and servicers can more precisely target their retention marketing efforts and internal models can more accurately reflect borrower behaviour.   For more information, visit www.kxen.com.


KDnuggets : News : 2005 : n02 : item19 < PREVIOUS | NEXT >

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