Staying informed about changes in the properties securing your loans – or loans you may be acquiring – is key to proactively addressing at-risk loans. Critical and timely indicators can help you more effectively manage risk and improve decision-making to better protect your security interest. Important loan indicators can also support your lead generation efforts.
Black Knight offers a suite of sophisticated portfolio management solutions to help you:
- Perform due diligence assessments for acquisition
- Monitor liens to maximize your loss mitigation strategy
- Minimize potential foreclosure losses
- Increase customer retention
Black Knight’s Lien Alert™ offers one-time or ongoing monitoring of specific loans, equity positions or entire loan portfolios to help you with due diligence assessments and proactive risk management. Based on your predetermined rules, Lien Alert will instantly alert you to the following key indicators that could change borrower status and negatively impact your business:
- New mortgages recorded
- Foreclosure/default activity
- Tax delinquency
- Bankruptcy
- ARM resets
- Lien status changes
- Value changes
- Ownership and occupancy changes
- MLS listings
- Involuntary liens and judgments
Black Knight’s It’s Listed!™ Alerts provides instant notifications when properties in your portfolio are listed for sale on the Multiple Listing Service (MLS). With It’s Listed! Alerts, you can protect your portfolio by proactively contacting delinquent borrowers to expedite short sales. You can also use the alerts to identify borrowers in good standing who have listed their properties, and pre-qualify them for financing on their new property.
In several states, liens recorded by homeowners associations (HOA) for delinquent accounts will take priority over a first mortgage, resulting in a “super lien.” The HOA may foreclose, eliminating the first mortgage as well as any subordinate liens on a property, which can lead to significant losses for servicers and investors.
With HOA Lien Pro, you can monitor your portfolios for super liens, so that HOA obligations can be identified, cleared and first lien status preserved. In addition, you can proactively contact HOAs to build relationships and ask to be notified of account delinquencies and HOA liens.
Uncover Hidden Tax Obligations
Identifying delinquent taxes on mortgage loans poses challenges for lenders, servicers and investors, especially when the debt is on non-escrowed accounts. In addition, when payment obligations are sold to third parties, not only does it become more difficult to uncover properties with tax delinquencies, but it also increases the risk of collateral loss. Once a third party pays the debt, the property taxes appear current, and the third-party tax lien supersedes any mortgage lien.
Black Knight’s PTD™ Shield is a unique and valuable solution that enables you to identify properties in your portfolio with delinquent taxes, even if the obligation has been sold to a third party. PTD Shield reduces the uncertainty regarding delinquent taxes, helping you to make more informed decisions, reduce risk, and decrease the time and costs associated with procuring tax data.