TransUnion to launch new property insights tool
TransUnion released a new portfolio management solution designed to help lenders assess the riskiness of a portfolio from a property value perspective, the company announced on Wednesday.
TruVision Consumer Property Insights’s mission is to help protect both lenders and borrowers from the potential risks associated with property value fluctuations, the company said. The product will provide lenders with an array of functionalities, such as combined loan-to-value (CLTV) on each property owned by a consumer. It will also display characteristics about those properties to better inform lenders about the asset securing the mortgage or the home loan.
Transunion’s proprietary algorithm matches property lien data with the corresponding tradeline, which allows TransUnion to use the actual value of the asset instead of an estimated or derived value.
Previously, TransUnion leveraged the value of property insights with another product, Consumer Property Insights for Prescreen. The company has now extended its service to portfolio management.
TransUnion is one of the major consumer credit reporting agencies. It boasts over 13,000 associates operating in more than 30 countries.
