Ohio Savings Bank of Cleveland is using the latest version of a data analysis program from Insightful Corp. of Seattle to reduce risk and improve its profits on mortgage loans it funds.
The indirect-lending division of the $14.6 billion-asset bank is using S-Plus 7 Enterprise Developer for statistical data analysis and predictive analytics, Insightful said Wednesday.
Ohio Savings' core business is wholesale mortgage lending; it finances loans that a network of correspondent lenders and mortgage brokers originate.
Insightful said the new version of the software, announced in April, is more efficient than earlier versions and can handle larger data sets. Ohio Savings is using it for things such as risk scoring, portfolio risk management, and collections behavior strategies.
