While basic versions of analytic solutions focus on building data repositories and reporting, advanced predictive and prescriptive analytics can generate powerful insights. Prescriptive Analytics which use models to specify optimal behaviors and actions can be embedded as a part of real-time decision making process in the mortgage banking domain. Need for Prescriptive Analytics in Mortgage…
A robust and successful Data Analytics functionality encompasses more than a stack of technologies and is incomplete without getting incorporated into all key decisions across origination, sales, marketing, borrower experience and other core functions. So it is necessary to integrate Data Analytics into mortgage banking to aid the decision making process. How to integrate Data…
With rise in origination costs and lead generation costs, Mortgage banks need to optimize their digital marketing efforts to close more loans without increasing their marketing spend. Personalization of digital marketing efforts can go a long way in increasing the marketing efficiency and effectiveness of lead generation techniques. Benefits of personalization in lead generation Personalization…
Mortgage banks have with them a large database of information secured via loan origination platforms, application forms, POS platforms and other website features like contact forms, search patterns. Mortgage Banks by employing the right technology can leverage these existing data sets to gain meaningful insights about borrower behavior, buying patterns, trends, loan product performance and…
Faster and better data driven lending decisions requires timely and accurate information right at the fingertips of LOs and Lenders. Critical business decisions backed by real time data driven approach always prove to be more accurate and effective in the long run. Essential features of a BI dashboards for Mortgage Industry Advantages of BI dashboards…
Looking for more information on implementing AI/ML algorithms for Document Management for your organization, leave us a message. Contact Us Now
Data Science is disrupting Mortgage Industry in an unprecedented manner and Mortgage banks are investing heavily to build infrastructure and technology to gather data, store them and use the data to extract important insights. The result is a win-win situation for both lenders as well as borrowers. Here are some ways in which Data Science…
Mortgage banks have with them a large database of information secured via loan origination platforms and other website features like contact forms, search patterns. Data visualization proves to be the most efficient way to make the most out of this data which includes demographic data to migratory data. Importance of Data Visualization Ease of finding…
The data accumulated by Mortgage banks via different data points have already run into Petabytes and is still counting. Mortgage banks can either choke on this data or leverage them to form customer centric strategies. These voluminous amounts of data are proving to be a double edged sword for the mortgage banking industry. Challenges…
Changing business landscapes and stiff competition has made Mortgage banks embrace technology to leverage the large database of client information which ranges from demographic data to migratory patterns. Business Intelligence tools are the latest addition to the arsenal of technological tools to augment decision making process for mortgage banks. Importance of Business Intelligence tools Measuring…