A computer driven algorithm program that “works by structuring a new mortgage that more accurately reflects a home’s worth so that a troubled borrower no longer owes more on their home than the property is worth” using “proprietary technology developed by a Ponte Vedra Beach, Fla.-based real-estate appraisal firm” and “can rewrite up to 500,000 loans a month.”
Yes, because computer probability modeling on home values, historical default rates, and risk minimization employed by RE experts in Florida worked so well for writing these mortgages in the first place.
