During this state of uncertainty, an insight into data analytics can provide an edge in the competition confrontation of fluctuating market rates. Mortgage lenders are having a tough period than any other sector. The transition from 2019 to 2020 itself made their way difficult with major economic challenges, unemployment, and business shutdowns.
Despite the economic backup plan and changed pricings their head might not be out of the water until they find some key measures to succeed the fluctuations. Market transparency with the help of real-time data and comprehensive analytics will surely help them to ensure their previous spots in successful marketing. Optimal Blue finds itself helpful for lenders during the volatile environment. Even though, they didn’t plan themselves for this pandemic particularly. About $ 1 trillion mortgage loan is blocked by Optimal Blue everywhere.
- Benchmark against the competition: A transparent platform is essentially the ideal tool for a highly competitive industry. Competitive and analytics can analyze the entire market composition and competition, thus making smart strategical lending.
- Focus marketing efforts: An average of about 350 MSA’s throughout the country intertwined in the competitive analytics network of Optimal Blue provides conceptual and consolidated data about loan volumes, pricing, and other trends.
- Understand borrower segments: Variations of borrowings concerning market vulnerability is another important aspect that is to be encountered. Analytics compactable for the market lined nuances and having insights into borrower credit scores provide a better grasp for lenders. For instance, the housing market now cast gives timely inferences about single-family residential to marketing, with the help of Optimal Blue.
- Predict and leverage industry-wide trends: The varying trends in ideal loan products, refinancing and mortgage volumes can be closely studied with the help of Optimal Blue’s marketing analytics. High risks generated during the closing month volume can be easily encountered with the analytics network.
- Fine-tune MBS and MSR analytics to effectively mitigate risk: The efficient granular, as well as the precise primary input rate, has been the key research anecdote of Optimal Blue’s Mortgage Market Indices(OBMMI). Furthermore, these indices improve prepayment modelling and estimates of refinancing propensity.
- Making the case for data and analytics: Every industry should encounter the effect of trends and should enable themselves to have their signature against the competitions generated. Every leading marketing establishment needs such a granular business intelligence platform for their survival and sustenance
