Feb 24, 2020   SOURCE: PR NewsWire

Equifax Supports Financial Institutions Throughout Loan Servicing Lifecycle With New Mortgage Servicing Product Bundle

ORLANDO, Fla., Feb. 24, 2020 /PRNewswire/ -- Equifax Inc. (NYSE: EFX) today announced from the Mortgage Bankers Association (MBA) Servicing Solutions Conference & Expo the availability of a new Mortgage Servicing Product Bundle. This Servicing Product Bundle is a fully customizable package of Equifax solutions designed to support financial institutions throughout the loan servicing lifecycle. It is designed to empower lenders with the data and analytics they need to combat issues ranging from mitigating delinquency risk and identifying portfolio retention strategies to increasing operational efficiencies with non-performing loans.

"In today's Dodd-Frank era, servicers are faced with a host of operational challenges, such as identifying risk within their portfolio; marketing and retention of performing assets; and efficiently executing operational policies and procedures in accordance with regulatory and compliance guidelines," said Jennifer Henry, vice president and vertical marketing leader for mortgage and housing services at Equifax. "We understand that any of these issues can threaten a servicer's ability to sustain a profitable business model. Smarter insights enable smarter action. The new product bundle empowers servicers with the right data and analytics, providing the insight and confidence servicers need to help anticipate and capitalize on fast-moving market opportunities."

Traditionally, servicers have relied on a number of disparate in-house and third-party solutions to manage critical functions. By consolidating core solutions, servicers can gain significant operational efficiencies. The Servicing Product Bundle can be customized to fit a wide range of servicers' needs, allowing financial institutions to choose the Equifax solutions that best match their business for maximum operational efficiency.

The full Mortgage Servicing Product Bundle from Equifax supports:

    --  Marketing and Retention Servicers must identify opportunities in their
        portfolio to refinance and head off portfolio runoff related to
        customers refinancing with the competition. Equifax is helping servicers
        mitigate prepayment risk by applying predictive analytics and
        event-based insights to market to and retain more of the right
        customers.

    --  Portfolio Management Servicers require more than raw data. They are
        looking for more digestible and actionable insights that can be easily
        interpreted. Servicing solutions from Equifax help accurately identify
        and help mitigate risk with leading indicators by utilizing
        differentiated and predictive information obtained from the source.

    --  Loan Modification Servicers must maximize operational efficiencies
        during modifications. Equifax offers a single source for verification of
        loan documentation during the mortgage loan modification process.

    --  Default and Foreclosure Increasing operational efficiencies with
        non-performing loans remains of high importance to servicers. Solutions
        within the product bundle help to mitigate the risk of loss from
        defaults and foreclosures while helping reduce the need for unnecessary
        manual reviews.

"With the new Servicing Product Bundle, we are helping servicers stay ahead of default and prepayment risk and to deepen their relationships with customers," continued Henry. "This new offering is just one of the ways that we are working to drive value for our customers -- providing flexible solutions that meet the specific needs the servicing ecosystem faces today."

The Mortgage Servicing Product Bundle from Equifax is available now. For more information, please visit: equifax.com/mortgageservicing.

ABOUT EQUIFAX INC.
Equifax is a global data, analytics, and technology company and believes knowledge drives progress. The Company blends unique data, analytics, and technology with a passion for serving customers globally, to create insights that power decisions to move people forward. Headquartered in Atlanta, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 11,000 employees worldwide. For more information, visit Equifax.com and follow the company's news on Twitter and LinkedIn.

FOR MORE INFORMATION
Kate Walker for Equifax USIS
404-885-8058
MediaInquiries@equifax.com

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SOURCE Equifax Inc.