New VisiView system helps mortgage industry sort data

Real Estate Weekly, Feb 16, 2005

As the booming home equity market keeps mortgage bankers busy, many are scrambling to keep up with increasing regulatory requirements.

Add to that per-transaction fees charged by the industry's dominant servicing system and it makes a strong ease for warehousing data to reduce fees and improve reporting capability.

Now Visionet Systems Inc. (http:// www.visionetsystems.eom) has released an alternative to traditional data warehouse solutions: VisiView, a customer and product analytic and reporting system tailored to the mortgage banking industry.

"Creating a data warehouse from the ground up is costly and time-consuming. In contrast, VisiView uses the client's existing data to provide performance metrics and reports for every stage of the mort gage business lifecycle," said Arshad Masood, president of Visionet Systems Inc.

"VisiView is designed with mortgage servicing operations in mind. It connects to any LOS supporting DU/LP-compatible data output and supports feeds from the most widely used servicing system.

"This functionality alone can shave a year off of a data warehouse project."

Built on open source technology, VisiView allows users to track production profits and costs by customer and product. The system provides analytics for every stage of the mortgage business lifecycle, including broker performance, origination quality, channel performance, customer profile, product performance, predatory lending compliance, regulatory compliance, escrow estimation, prepayment performance, cash flow, asset performance, delinquency trends and loss trends.

But the system's biggest strength is its ability to impact a mortgage banker's bottom line.

VisiView gives users the ability to perform a one-time, full data extract from the dominant servicing system; data can then be automatically updated daily or weekly, reducing the number of times the system is accessed.

At the same time, VisiView provides a centralized data storage and reporting solution, eliminating the problem of multiple spreadsheets being updated inconsistently through out a company.

"Using the mortgage banking industry's dominant servicing system, customers can only get live reports, not historical data," said Masood.

"As such, they cannot really analyze a customer's or product's characteristics and trends.

"That's where VisiView can help. It will allow executives to drill down to a task or a department level and yet roll up the results for better executive management. And VisiView enables companies to make use of their data today."