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Managing Change in Pricing Strategies: Addressing the Human Element
This is the third installment in our article...Reevaluating Risk Scoring in a New Pricing Landscape
This is the second installment in our article...Navigating Pricing Challenges in a Falling Rate Environment: Lessons from the Past
On November 14, Nomis executives came together to...Adapting to Rate Cuts: Strategic Deposit Expense Management by Wes West
In the immediate aftermath of the Federal...Mortgage | Jan 19, 2022
Access to fast, accurate, and current rate data is critical in today’s ever-evolving mortgage landscape—and not just for the LOs who quote these loans. With the right pricing data, mortgage lenders can expect to improve their operations from the ground up to include more effective marketing strategies, more lucrative opportunities, and a victory in the margin battle. Precise data can even help to carve out new niches and expand geographic footprint.
Marketing impact
Being able to access instant nationwide loan pricing data gives lenders an immense upper hand in the marketing department as it relates to the following:
- Better targeting on promotional efforts
- Identifying opportunities
- Understanding competitors more deeply
- Presenting a stronger value proposition
Here’s how one high-volume online lender explained it: “With Nomis, we know the markets where we are most competitive from a rate perspective. The ability to add a personal touch by presenting both our rate on a given loan product in a particular market, as well as what the average rate is on that same product in that same market, is incredibly powerful from a consumer perspective.”
Financial and operational impacts
The power of real-time pricing data extends well beyond the marketing department, though. It can also lend itself to more profitability, as well as better internal efficiencies, staffing, and operations and can enable you to:- Win the margin battle
- Increase internal buy-in
- Improve speed and efficiency
- Attract top talent
Pricing data might seem like just numbers on a screen, but it actually lends itself to some pretty powerful insights and strategies. From increasing operational efficiencies and attracting better talent to improving your marketing campaigns, strategies, and targeting, the most advanced competitive pricing intelligence platforms like those offered by Nomis Solutions, offer today’s leading mortgage lenders a clear advantage in an increasingly competitive marketplace.
Read all the details and the complete HousingWire article here.