How to add predictive analytics into your risk program. Risk reports are often limited to historical insights and issues and do not provide guidance and insights into the future of the organization. Adding predictive analytics can allow your organization to detect emerging risks and create mitigation plans. This can be achieved by combining internal and external key risk indicators (KRIs) and key performance indicators (KPIs) with regulatory intelligence. This ensures that risk reports can detect more issues and highlight areas of concern. Click here to learn more.
Mortgage performance improves slightly
The OCC has issued its Mortgage Metrics Report, First Quarter 2019, which indicates 96.2 percent of mortgages included in the report were current and performing at the end of the quarter, compared to 95.6 percent a year earlier.The report also showed that servicers initiated 27,610 new foreclosures during the first quarter of 2019, a 6.5 percent decrease from the previous quarter and a 26 percent decrease from a year ago. Servicers completed 17,561 mortgage modifications in the first quarter of 2019, and 72.6 percent of the modifications reduced borrowers’ monthly payments.