ABT’s PowerCore Due Diligence (PDD) system is a web-based loan validation application that is scalable, flexible and portable. Developed by industry-leading specialists, this expert system provides high levels of process, workflow and business rules intelligence to the loan analysis and underwriting activity.
- 7 Years In Development
- 2nd Generation
- Originally Written for major Wall Street Investment Banking and Securitization Firms
Flexible
PDD is designed to support multiple due diligence inventory and compliance processes and provides highly configurable role-based security, business logic and workflow rules. The entire system is workflow and process oriented, providing an unparalleled ability to create the exact due diligence process needed at any time.
Integrated
PDD integrates with third-party providers to collect and store data on compliance, AVM and fraud. By integrating with industry-leading providers, PDD users gain immediate access to data and analysis that is collected and stored within PDD. By collecting data within PDD, reporting and accessibility is greatly improved.
Effective Access
PDD is web-based and accessible from anywhere. This gives you the ability to locate your auditors and underwriters where it is most effective – which is not necessarily on-site. Web access also creates an effective way to view real-time progress of any audit or underwriting activities including reporting.
Scratch and Dent Due Diligence
PDD was initially written as a scratch and dent due diligence system. Expert design and development has created a system that effectively interprets seasoned performing and non-performing loans. This analysis provides crucial and high-quality forecast information that is vital for informed purchasing decisions.
Process and workflow for a Scratch and Dent due diligence is flexible and can incorporate a range of areas of interest.
- Tape Data to Paper comparison
- Compliance review
Reporting
PDD provides a range of reporting abilities including summaries of loan findings, validation reports and recommend reports. PDD utilizes Access Business Technologies ClearView reporting platform, providing robust and dynamic reporting capabilities.
Data Validation and Integrity
ABT’s PowerCore Due Diligence (PDD) system was originally created as a flexible and powerful data validation system: the main purpose to validate paper loan files to tape data. The system has grown beyond those early requirements to include integration to compliance, fraud and valuation expert systems but the original intent, to verify data integrity, has grown and improved along with the other enhancements to the system.
Pre-Established Validation and Workflow
The power behind the PDD data validation and integrity system is the ability to establish validation and workflow criteria prior to audits. Process libraries store all pre-established rules and workflow so that audits and validations can be performed consistently over multiple jobs.
PowerCore Due Diligence Workflow
PowerCore Due Diligence has a highly configurable and flexible workflow engine. While very advanced, the actual act of moving through the workflow is very easy. Workflow libraries are created and stored prior to audit. Workflow scenarios are presented during the validation process based on loan-specific data. This reduces chances of error in the field by creating an expert and specific system beforehand.
PowerCore Due Diligence Business Rules
ABT’s PowerCore Due Diligence (PDD) utilizes extensive configurable business rules to ensure consistent and quality loan pool validation and audit. Numerous loan scenarios can be established and utilized during an audit process. The business rules within these scenarios provide the alerts, criteria and thresholds by which the loan is vetted.
Business rules wihin PDD can also automatically align a loan with the proper audit workflow: Alt-A loans may go down one path where Scratch-n-Dent loans may need more rigorous vetting. Configurable business logic makes this possible.
PowerCore Due Diligence Libraries
ABT’s PowerCore Due Diligence (PDD) system uses extensive workflow, business logic and job creation intelligence. PDD is pre-configured to provide the most anticipated audit workflow and business logic. All of this intelligence is stored in libraries making every component and scenario reusable throughout the system.
Less Setup, More Review
It is these libraries that enable an enterprise to spend less time setting up the system and more time putting the system to work. By pulling generic scenarios and adding components, an organization can establish an audit process specific to their needs.
PowerCore Due Diligence Reporting
The heart of a Due Diligence system is the ability to validate, analyze and provide insight into the details of a pool of loans. PowerCore Due Diligence contains more than 20 built-in reports that provide in-depth analysis of the validation of data within the pool along with automatic views of CVR, Loan types, Insurance and any alerts from preset business rules. Additional reporting and analysis tools are easy to modify and add.
Due Diligence Compliance
PowerCore Due Diligence proudly provides integration with ComplianceEase for all state and federal-level compliance reviews. The ComplianceEase results data is store in PDD for future reference.
Other compliance scenarios can be developed using PDD's inherent workflow, business rules and screen logic.
PowerCore Due Diligence Fraud
Business rules within PowerCore Due Diligence can be created to detect or warn of various types of mortgage fraud. In addition, PDD can provide interfaces to the top fraud engines. This enables PDD to be a central repository of loan audit information.
PowerCore Due Diligence Valuation
ABT’s PowerCore Due Diligence (PDD) system can provide interfaces to any of the top valuation engines. This data can be stored in PDD so that historical reference can be performed. In addition, subsequent valuations during the life of the loan can be executed from PDD for comparison and reporting purposes.