The mortgage industry is experiencing unprecedented changes and challenges, many of which are at the core of the global financial crisis. As the mortgage industry, investment firms and the Obama administration all work to sort through the wreckage, it has become clear that the data needed to sort through, identify and separate out the toxic loans from the complex investment vehicles created from them are simply not adequate for the task. There is a need for greater transparency in loan and servicing data moving forward. Transparency is the new watchword, both for unwinding the toxic loan situation as well as to enable more effective monitoring and regulation moving forward. Transparency is really just the ability to access essential pieces of data to understand exactly what the data mean from a business viewpoint, and thus have the ability to analyze the date, mine them for deeper information trends and draw useful analysis from them.
Data Transparency Is Key Harry Gardner Mortgage Banking; May 2009; 69, 8; Docstoc pg. 86 Reproduced with permission of the copyright owner. Fu
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