Benutech Launches PortfolioShield To Help Mortgage Lenders And Servicers Mitigate Loss
Benutech, a real estate technology solutions provider, has launched PortfolioShield, a lien monitoring system designed to help mortgage lenders and servicers mitigate risk.
PortfolioShield uses cutting-edge technology to review the data points on a loan file that are known to the lender or servicer. It then combs one of the broadest and deepest datasets in the U.S. to verify or update the lender or servicer’s data, assessing each dataset to help clients identify files where the data has changed post-loan, indicating the presence of higher risk factors that require immediate examination.
Using PortfolioShield, lenders and servicers can rest assured that the data in their loan portfolios are brought current and are accurate, which significantly reduces their risk of assuming a loss on a file because of an unknown lien against the property, default on the loan, and/or ownership that was modified or transferred.
In effect, PortfolioShield is a groundbreaking tool that empowers lenders and servicers with the ability to drastically mitigate the potential for loss, saving them hundreds of thousands of dollars down the line.
“PortfolioShield gives our clients the unparalleled ability to continually update their loan files to ensure that all of the information in their loan files is current,” said Brian Fox, Vice President of Business Development at Benutech. “All too often, lenders and servicers are burdened by loan files with dated information, and until now, there has been no way for them to efficiently leverage technology and data to consistently update them. We are excited to bring this product to market and see how it changes the game for the mortgage industry.”
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