Safeguard Launches Proprietary System to Assess and Minimize Weather Impact on Mortgage Portfolios
Safeguard Properties Launches Proprietary SystemTo Assess and Minimize Severe Weather Impact on Mortgage Portfolios
— First of its kind technology combines weather alerts, geospatial mapping and property condition data to improve decision-making
Valley View, Ohio, December 12, 2013 – Safeguard Properties today announced the launch of its proprietary MapAlert™ system that integrates weather data with property condition and inspection data, enabling mortgage clients to quickly assess the potential for damages to properties in their portfolios and take appropriate actions to protect properties in targeted zones, mitigate damages and initiate outreach to troubled borrowers.
MapAlert provides both pre-disaster and post-disaster information to support client decision-making. It utilizes multiple national weather data sources and overlays them with advanced geospatial mapping technologies that identify the locations of client properties to provide a visual representation of affected areas. It also incorporates property condition updates from Safeguard’s internal system to allow mortgage servicers to analyze their portfolios and make targeted asset preservation decisions at a national, regional, neighborhood or property-specific level.
“This is the first property management technology that combines external weather data with property inspection condition results so that clients can be as general or as specific as they choose to evaluate and make decisions about their nationwide property portfolios,” said George Mehok, Safeguard’s chief information officer. “It is capable of tracking millions of properties and analyzing hundreds of variables for any potential weather event, so clients can monitor many different ‘what if’ scenarios in preparation for the unpredictable.”
Utilizing Safeguard’s client reporting system, mortgage servicers also can receive automated notification of weather events in specific geographical areas to immediately identify properties that may be affected or have been impacted by hurricanes, tornadoes, wild fires and other disasters.
The system also benefits municipalities when severe weather strikes, because proactive measures by servicers reduce property damage and allow community resources to be deployed more effectively to other areas of need.
“Through our All Client Alert System, Safeguard established itself as a critical industry and municipal resource when disasters strike,” said Michael Halpern, Safeguard’s director of community initiatives.” With MapAlert, we offer an entirely new level of value. With immediate and detailed information about specific properties, servicers can take decisive action to reduce damages and deploy resources to assist affected borrowers.”
Weather data sources for MapAlert include the Federal Emergency Management Agency (FEMA), U.S. Geological Survey, the National Hurricane Center, the National Weather Service, National Oceanographic and Atmospheric Administration and the Geospatial Multi-Agency Coordination Group (GeoMAC).
Additional features of Map Alert include the ability to create user-specific accounts to track events; advanced filtering, analysis and reporting capabilities, both pre-and post-event; real-time post-disaster satellite imagery; and access from mobile devices.
The release was published by MortgageOrb. Please follow the link for the full article:
Safeguard Properties is the largest mortgage field service company in the U.S. Founded in 1990 by Robert Klein and based in Valley View, Ohio, the company inspects and maintains defaulted properties for mortgage service companies, lenders, investors and other financial institutions. Safeguard employs approximately 1,700 people, in addition to a network of thousands of contractors nationally. Website: www.safeguardproperties.com.
Media contact: Diane Roman Fusco, director of public relations, 800-852-8306, ext. 1213 firstname.lastname@example.org.