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Track your Portfolio Against Real-Time Natural Hazard Events

When it comes to natural hazards, the question isn't if but when. Ensure your hazard awareness with Hazard Impact Tracker (HIT), First American's revolutionary portfolio risk exposure tool, providing near real-time reports of zip codes affected by a natural hazard event. In contrast to other natural hazard assessment methods that report all zip codes in a county as affected, HIT narrows the impacted areas to the zip code level to increase efficiency of operations.

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Many lenders' current hazard-assessment methods rely on federal disaster declarations, which identify counties affected by a natural hazard event. The federal data is often released many days post-event, resulting in costly delays in hazard response. In contrast, HIT provides zip code level reporting in near real-time. Utilizing a proprietary process that aggregates data from multiple sources, HIT's database continuously monitors the nation for all natural hazard activity ranging from small, regional events to mega catastrophes. Enhanced accuracy and event coverage allows lenders to respond quickly and efficiently to better support productivity, compliance and profitability.

Origination Solutions

With short term monitoring from HIT, a pending loan can be tracked to view possible exposure to natural hazard events from loan application to close date. HIT also offers on-demand reports of a single property's historical exposure based on years of hazard data. These reports assist in prioritizing property inspections and determining the scope of inspection and skill level of the inspector. Continuous near real-time monitoring and historical reporting allows for faster closing and enhanced business continuity.

HIT can assist you with the following:

  • Prioritize site inspections according to your specific criteria and needs
  • Know if unoccupied properties, vacation rental properties, and properties securing second mortgages have been affected by an event
  • Satisfy compliance requirements
  • Improved risk/reserve ratio management
  • Enhanced business continuity and improved public relations

Detailed Hazard Information

  • Monitoring and reporting features which enable you to make fully informed business decisions
  • Create customizable reports based on client specific criteria such as unpaid principle balance, investor, delinquency status, and occupancy
  • Use web interface to view entire portfolio or specific properties for current hazards
  • Request on-demand reports of a single property's historical exposure based on years of hazard data
  • Receive financial summary information daily, weekly or monthly
  • Configure automated alerts to notify you of critical events via email or text messaging

Default Solutions

HIT is the solution to efficiently mitigate default and loss exposure. Our product filters your portfolio for affected properties immediately after an event, resulting in a dramatic decrease in the number of properties reported as possibly damaged.

HIT can assist you with the following:

  • Prioritize site inspections according to your specific criteria and needs
  • Know if unoccupied properties, vacation rental properties, and properties securing second mortgages have been affected by an event
  • Narrow scope of collections and forbearance efforts
  • Minimize losses associated with loan default
  • Increase default productivity and profitability
  • Satisfy compliance requirements
  • Improved risk/reserve ratio management
  • Enhanced business continuity and improved public relations

Detailed Hazard Information

  • Monitoring and reporting features which enable you to make fully informed business decisions
  • Create customizable reports based on client specific criteria such as unpaid principle balance, investor, delinquency status, and occupancy
  • Use web interface to view entire portfolio or specific properties for current hazards
  • Request on-demand reports of a single property's historical exposure based on years of hazard data
  • Receive financial summary information daily, weekly or monthly
  • Configure automated alerts to notify you of critical events via email or text messaging

Last Updated on Wednesday, 19 August 2009 11:51
 
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