First American's Suit-on-Note Scoring Module Quantifies Optimal Resolution Projections for Investors and Servicers

May 7, 2008

DALLAS, -- First American Subordinate Lien Outsourcing, a member of The First American Corporation debutted its Suit-on-Note Scoring Module (SONSM Score). Used in conjunction with the determination of property equity and understanding the borrower's economic situation and intent, the SON Score helps servicers and investors ascertain the optimal resolution for servicing subordinate lien assets. The SON Score provides an analysis of a respective borrower's current real estate assets as well as a determination of a loan's eligibility for the Suit- on-Note process, which is a different legal cause of action than a typical foreclosure action.

The SON Score is designed as a complement to the suite of scores and products provided by First American, including the recently released Second Lien Collectibility Score (SeLi SM Score), which utilizes an analytical risk versus reward rating system to quantify the actual potential of a second lien.

"The focus of all collection efforts is to determine debtor willingness and capacity to make payments on the debt," said Jason Pinson, president of First American Subordinate Lien Outsourcing. "The SON Score helps the servicer define the capacity to pay by looking for indications and actions on the debtor's other assets in a quick and efficient manner."

Source: The First American Corporation


Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro, based in Raleigh, NC, offers a mature suite of products, designed specifically for the closing and title industry. Our mission is to serve our client base, with best-in-class products and services. Our products are modular so we don't force you to buy anything you don't need. You can always add on as your business grows. Unlike other software companies, we view the sale as the beginning of the relationship rather than the end. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.