METHOD AND SYSTEM FOR MONITORING FOR AND REPORTING OF LIEN DISTRESS EVENTS
A computer-based method of monitoring for and reporting of a lien distress event relatable to a lien against a property includes the steps of extracting loan data from a client loan portfolio, defining the lien distress event relatable to the loan data by using one or more lien distress event criterion, detecting an occurrence of the lien distress event iteratively, and notifying a client of the occurrence of the lien distress event.
1 . A computer-based method of monitoring for and reporting of a lien distress event relatable to a property, comprising:
receiving, using a processor, loan data from a client loan portfolio, the loan data relatable to the property;
periodically monitoring, using the processor, for the lien distress event relatable to the loan data by accessing a public records database and a credit reporting database; and
generating, using the processor, a report including a result of the periodically monitoring for the lien distress event relatable to the loan data.
2 . The method of claim 1 , wherein:
the loan data comprises property address data and borrower identification data, and
the lien distress event is relatable to the property address data and the borrower identification data.
3 . The method of claim 1 , further comprising:
defining, using the processor, the lien distress event by receiving at least one lien distress event criterion or setting a threshold value for the at least one lien distress event criterion, wherein the lien distress event is predetermined or user defined.
4 . The method of claim 3 , wherein the at least one lien distress event criterion is selected from a group consisting of a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, and combinations thereof.
5 . The method of claim 3 , wherein the periodically monitoring includes searching, at a predefined monitoring frequency, the public records database and the credit reporting database for a record meeting the at least one lien distress event criterion.
6 . The method of claim 3 , wherein the at least one lien distress event criterion comprises a threshold value for a number of occurrences of the lien distress event.
7 . The method of claim 1 , further comprising:
sending, using the processor, the report to a client on a periodic basis or at a predetermined frequency.
8 . The method of claim 1 , wherein the report includes an absence of the lien distress event or a number of occurrences of the lien distress event.
9 . A computer-based method of monitoring for and reporting of a lien distress event relatable to a property, comprising:
receiving, using a processor, property address data of the property from a client loan portfolio;
periodically monitoring, using the processor, for the lien distress event relatable to the property address data by accessing a public records database and a credit reporting database; and
generating, using the processor, a report including a result of the periodically monitoring for the lien distress event relatable to the property address data.
10 . The method of claim 9 , further comprising receiving, using the processor, at least one lien distress event criterion that is predetermined or user defined.
11 . The method of claim 10 , wherein the at least one lien distress event criterion is selected from a group consisting of a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, and combinations thereof.
12 . The method of claim 10 , wherein the periodically monitoring includes searching, at a predefined monitoring frequency, the credit reporting database for a record meeting the at least one lien distress event criterion.
13 . The method of claim 10 , wherein the at least one lien distress event criterion comprises a threshold value for a number of occurrences of the lien distress event.
14 . The method of claim 9 , further comprising:
sending, using the processor, the report to a client on a periodic basis or at a predetermined frequency.
15 . The method of claim 9 , wherein the report includes an absence of the lien distress event or a number of occurrences of the lien distress event.
16 . A computer-based method of monitoring for and reporting of a lien distress event relatable to a property, comprising:
receiving, using a processor, property address data of the property from a client loan portfolio;
periodically monitoring, using the processor, for the lien distress event relatable to the property address data by accessing a public records database and a credit reporting database; and
generating, using the processor, a report including a result of the periodically monitoring for the lien distress event relatable to the property address data.
17 . The method of claim 16 , further comprising receiving, using the processor, at least one lien distress event criterion.
18 . The method of claim 17 , wherein the at least one lien distress event criterion is selected from a group consisting of a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, and combinations thereof.
19 . The method of claim 17 , wherein the periodically monitoring includes searching, at a predefined monitoring frequency, the public records database for a record meeting the at least one lien distress event criterion.
20 . The method of claim 17 , wherein the at least one lien distress event criterion comprises a threshold value for a number of occurrences of the lien distress event.
21 . The method of claim 16 , further comprising:
sending, using the processor and via the computer network, a notification to a client upon detecting the lien distress event.
22 . The method of claim 16 , wherein the report includes an absence of the lien distress event or a number of occurrences of the lien distress event.
23 . A system for monitoring for and reporting of a lien distress event relatable to a property, comprising:
a client station receiving loan data relatable to the property;
a first server uploading the loan data from the client station; and
a second server coupled to the first server, the second server comprising:
a data standardization module configured to standardize the loan data,
a database search engine configured to periodically monitor the lien distress event relatable to the loan data by accessing a public records database and a credit reporting database, and
a report generating module for generating a report including an absence of or an occurrence frequency of the lien distress event within one or more predefined periods.
24 . The system of claim 23 , wherein:
the loan data comprises property address data and borrower identity data, and
the lien distress event is relatable to the property address data and the borrower identity data.
25 . The system of claim 23 , wherein the lien distress event is defined by receiving a criterion from the client station, and the criterion is selected from a group consisting of a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, and combinations thereof.
26 . A system for monitoring for and reporting of a lien distress event relatable to a property, comprising:
a first processor configured to receive borrower identification data and property data from a client loan portfolio; and
a second processor coupled to the first processor and configured to:
periodically monitor a public records database for the lien distress event relatable to the property data and a credit reporting database for the lien distress event relatable to the borrower identification data, and
generate a report including an absence of or an occurrence frequency of the lien distress event within one or more predefined periods.
27 . The system of claim 26 , wherein the first processor is configured to standardize the property data by extracting property address data from the property data.
28 . The system of claim 26 , wherein the first processor is configured to standardize the property data by extracting the borrower identification data from the property data.
29 . The system of claim 26 , wherein the first processor is configured to notify a client when a statistic derived from the occurrence frequency of the lien distress event of the report exceeds a predefined threshold.
30 . The system of claim 26 , wherein:
the first processor is configured to receive a criterion for defining the lien distress event, and
the criterion is selected from a group consisting of a loan repayment default status, a property foreclosure status, a monthly payment delinquency status, a monthly payment delinquency trend, a borrower credit score, a borrower credit trend, a borrower bankruptcy status, a property transfer status, and combinations thereof.