Credit verification leader Xactus is rolling out an active listing product for lenders that it claims offers the most active listings within the mortgage industry.
The new “Active Listing Scan'' offers coverage of 97% of multiple listing services in the country, Xactus said last week. The product is launched in the midst of airtight housing inventory, soaring prices and rising interest rates that
Lenders share their list of borrowers with Xactus and, through Active Listing Scan, track their respective lists to see which borrowers are selling their homes and re-engage them for their next mortgage, Xactus said. The program also allows lenders to track listing activity by prospective borrowers, including those who applied for a loan, those who were part of a lead purchase by a lender, or those a lender is already marketing to.
Active Listing Scan also alerts servicers to potential short sales, in which a borrower can ask their lender to agree to a sale of the property despite being underwater. It can also help lenders discern candidates for home equity line of credit loans, a
"You have all the attributes of what the listing price is today versus when they originally purchased it," said Michael Crockett, chief data officer at Xactus. "You can target those particular borrowers that may have equity in their homes."
The Active Listing Scan offers details on listing date, price, broker information, changes in status and average days on market for a neighborhood, Xactus said.
Total mortgage originations are projected
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