Not all property data is equal – and it certainly shouldn’t be viewed as merely a commodity. Just ask any lender or servicer who has been burned by using inaccurate or stale data. Since data plays such a critical role in virtually every aspect of a mortgage – underwriting decisions, risk management, property and asset valuation – doesn’t it make sense that data integrity should be at the top of the priority list to drive technology enhancements?
Many lenders are using the current market slow down to ramp up their technology and (most importantly) focus on the quality of the data powering that technology. As part of this process, forward-looking lenders are examining not only available technology, but also the quality of the data that is powering that technology and how efficiently their organizations are consuming that data.
Paul W. Harris, general manager, mortgage analytics for First American Data & Analytics, explores why data plays a critical role in lending decisions, why it’s important to understand how data powers your solutions, and why data quality matters.