Lenders are continuing to get creative in their lead prospecting for new opportunities to supplement their mortgage business – with many still turning to home equity lending and increasing their work with government loan programs. Each of these potential revenue sources bring with them unique risk and compliance challenges. It’s true that lenders need to stay abreast of ever-changing compliance rules, and real estate data providers must be aware of emerging trends to bring new, valuable solutions to the market and enhance existing solutions in anticipation of customer needs.
Paul W. Harris, general manager, mortgage analytics for First American Data & Analytics, explores the importance of finding new solutions to stay ahead of the curve and why partnering with quality data providers will help enhance accuracy, increase productivity, and improve loan quality.