Systemic and Operational Analytic Models for Superior Insight
Digital Risk introduces Veritas®, the industry’s only multi-dimensional mortgage analytic platform that models systemic and operational risk for insight superior to single-scoring methodology mitigating repurchase risk.
Veritas is built on a vast repository of specific borrower, property and local real estate market data which provides wide-spectrum insight into the many facets of risk. The result is the most reliable method for understanding risk at the root cause whether systemic or operational.
The time has come for a platform that analyzes many more impactful variables that can predict future risk with much more accuracy and provide the reason why that risk exists. Veritas is that platform, bringing data and analytic confidence to the entire mortgage lifecycle, including origination, default and servicing.
The Many Dimensions of Borrowers. One Size Fits None
The mortgage meltdown turned traditional thinking on its head with regard to what constitutes risk. However, most industry players continue to rely on outdated methods to determine risk. If history taught us anything it’s that a high FICO and low CLTV ratios don’t guarantee low risk as demonstrated by the large swath of high FICO borrowers that defaulted in record numbers over the last four years.
Even today the industry still depends heavily on that one static score despite its inability to take into account the ever-changing life factors that differentiate borrowers, influence operational risk and are essential to predicting a borrower’s ability to repay their loan in the future.
The traditional credit score is relatively static with respect to time and other factors, giving the impression of “one borrower, one score” regardless of the many factors that discriminate amongst borrowers and in turn, influence risk. Veritas takes into account the ever-changing factors of the borrower’s circumstance, that previously have not been measured, and incorporates them into a more accurate, meaningful and dynamic view of the borrower.