The Benefits of Big Data in the Mortgage Industry

T H E B E N E F I T S O F B I G DATA I N T H E

M O RTG AG E IN D U ST RY

BRANDON GLICKSTEIN Co-Founder & Integrator at Monster Lead Group

Brandon Glickstein

THE BENEFITS OF BIG DATA IN THE MORTGAGE INDUSTRY As the use of big data in many industries continues to take shape, the mortgage industry can expect to engage with its customers in transformative ways thanks to the depth of insights available. Indeed, from online shopping to social media, the modern consumer has a data trail that can provide valuable insights when properly analyzed.

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ig data and predictive analysis can accelerate various aspects of business for a mortgage company, from lead generation to risk management.

IMPROVED ASSESSMENT Through big data, lenders can learn more about potential borrowers, especially when the latter have little credit information

Big data can help in this regard, especially where analytics help improve underwriting and customer onboarding processes.

gathered about them. For example, many millennials may not have sizable credit histories, but lenders can use data to create alternative profiles from available data sources to help in their assessment.

BETTER EFFICIENCY Lenders must control costs to ensure profitability.

Big data can help in this regard, especially where analytics help improve underwriting and customer onboarding processes. Machine learning models can flag data points that require further investigation early in the process. With a more organized and data-driven approach, lenders can deliver faster and more cost-effectively.

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