DataQuick, a provider of advanced real estate information solutions powered by data, analytics and automated decisioning, has completed the development of its Derived Transaction Record (DTR). The DTR is a new property transaction record based on a methodology for extracting data from a variety of intelligence sources to identify property transactions in jurisdictions that do not compile recorder information. The methodology also identifies property transactions that are not captured as part of traditional recorder data.
Thirty-three million DTRs will be added to DataQuick’s National Property Database, one of the most comprehensive resources of property data in the nation, bringing the overall number of property transactions available to be accessed by users to 310 million. The increase in DTRs will significantly expand clients’ ability to track relevant activity on a property over time to better determine risk on specific properties and homeowners/borrowers. This information can then be applied to improve lending practices, valuation accuracy and property research.
The increase in property transactions resulting from the addition of the DTRs improves the ability to track transaction history and provides a more comprehensive picture of the loans and transactions on a property, enhances Combined Loan-to-Value (CLTV) estimates and offers better insight into distressed activity on properties in specific markets.
“We’re constantly exploring how we can help our customers improve their ability to manage collateral and portfolio risk,” said John Walsh, president of DataQuick. “The DTR expansion provides more insight on more properties, giving our customers the intelligence they need to make more informed decisions. While the DTRs are a separate offering from our standard property transaction records, both are offered in the same format, allowing for seamless integration of intelligence that isn’t currently available in many markets across the country.”