Chapter 17: Property Data & Analytics
IN THIS LESSON
What is it?
As a mortgage and/or home equity lender, you need better insight into consumer behavior and competitor activity during prospecting, loan origination, and portfolio retention to understand who’s winning your lost business and why.
Through Equifax Ignite® Lost Sales Analysis, we can help you assess why a potential or existing borrower was lost. Additionally, we can provide data for you to focus on your desired segment of consumers or modify your product mix to help achieve higher response, close, and retention rates.
The Equifax Ignite® Lost Sales Analysis application consolidates your data with Equifax property and behavior data. This harmonized data then flows into dynamic KPI visuals that help you adjust your strategies, offers, and terms to attract the quality and quantity of borrowers most likely to meet your organization’s risk management and growth objectives. Information included in the Equifax Ignite Lost Sales Analysis output includes:
Name of the lender associated with the lost sale
Characteristics associated with the consumer’s new loan (origination date, origination amount, interest rate, LTV, etc.)
Disposition type (purchase, refinance, HELOC, etc.)
Buyer age information
Vantage score bands
Use at various points of the mortgage or home equity loan lifecycle
With Equifax Ignite Lost Sales Analysis, you can focus on multiple business goals with access to public record property data that help indicate where a lost prospect ended up closing a mortgage, HELOC, or home equity loan, as well as some of the characteristics of that loan.
