Digging for solutions Featured

8:01pm EDT June 30, 2011

[caption id="attachment_32561" align="alignleft" width="200" caption="Peter R. Kassabov. chairman and CEO, Digital Risk LLC"]

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Peter Kassabov didn’t have the kind of upbringing that you would expect to spawn a success story in the business world. But even as he was growing up in communist Bulgaria, Kassabov challenged convention and dreamed of creating an environment that would allow his entrepreneurial spirit to thrive.

After coming to the United States and launching a number of successful ventures, Kassabov put himself into a position to create Digital Risk LLC. The company was created to evaluate loans for fraud after the borrower had defaulted. But Kassabov knew it could be even more than that.

As the business evolved, analytics were developed to evaluate loan portfolios not only on the back end when they were already in default but also in the origination stage. This would allow lenders and underwriters to evaluate inherent risk in certain loans and loan portfolios.

It was a breakthrough because Digital Risk was the only company at the time to gain access to multiple information sources and incorporate them into one seamless analytical tool to evaluate loans and mortgage-backed securities.

Digital Risk proved even more valuable after the recession when companies who had once dismissed Kassabov’s services saw the value in what he could provide. The company continued to expand despite the economic downturn as it had positioned itself well to provide its advanced loan analysis service to a large client base of lenders, underwriters, financial institutions and institutional investors.

The company has also broadened its reach from primarily residential mortgages to commercial mortgages, as well.

Kassabov hopes to continue to develop his analytical software until it can be used by other institutions in-house to perform loan analysis and verification.

Through foresight, innovation and change, Kassabov is confident he has Digital Risk in a position to continue to adapt and grow and prosper in the marketplace.

How to reach: Digital Risk LLC, (407) 215-2900 or www.digitalrisk.com