8 Key Advantages of Pricing Data for Mortgage Lenders
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.
Let's briefly review eight of the marketing, financial, and operational advantages that can be delivered to a mortgage lender using the untapped power in optimized pricing data and full-funnel competitive intel platforms.
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
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.