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Effectively utilizing analytics in mortgage lending can help leaders in the space to adapt to a fast changing market.
Originally published on MBA NewsLink on August 24, 2021
Working in home finance has long been about preparing to deal with the changes the market brings. Thirty years ago, the changes were smoothly cyclical but more recently the shifts between feast and famine in our business have become more abrupt. Some are predicting that we’re about to see another such shift.
Falling loan volumes, a shift in the business mix away from refinance originations and back to purchase money loans and a steady stream of M&A creating larger, better capitalized competitors are trends that have been well covered, in this publication and elsewhere.
The real question in my mind is how will mortgage executives know what changes are required to keep their institutions profitable as the market changes?
Good decisions are based on good data, and that’s one thing we are swimming in here. But making sense out of all of that information is an evolving art. Experts in business analytics have been in high demand in our business for some time. I predict they will become even more valuable in the future.
Dealing effectively with a fast-changing market is only possible when data analysts can pull real business insight out of big pools of data. Fortunately, we have access to the technologies to help lenders get this job done.
Read the full article here.
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Mortgage Cadence:
Megan Martin
EVP, Marketing
(516) 480-6765
megan.c.martin@mortgagecadence.com