The Ultimate Guide to Mortgage Data 2021
What is Mortgage Data?
Mortgage data is information about a home that is loaned to a borrower and the individual’s mortgage loan details. These types of information include purchase value, loan amount, owner, borrowers, lenders, interest date, maturity date, property transfer, and other important features. The details are collected from available public records, and they can be used to increase loan production efficiency and mortgage risk management processes.
How is Mortgage Data collected?
Mortgage data is collected from various credible sources. These sources include social media platforms, online news sites, online publications, lending agencies, the government, and any related public records. In the form of a list or charts, these sources are gathered and analyzed to create mortage datasets which undergo cleansing and filtering to eliminate duplications and incomplete data. Then, data is organized and compiled for data storage.
What are the typical attributes of Mortgage Data?
Here are some typical attributes of mortgage data:
- Credit Score – this refers to the available data on the credit rating of an individual based on their previous loans.
- Customer information – refers to the customers’ buying patterns, purchasing power, contact data, geographical location, and employment status.
- Mortgage home – this refers to information about the homes available to purchase using a mortgage model, companies offering loans on properties, and terms and related legal information.
What is Mortgage Data used for?
Mortgage data is used by lenders and banks. This data serves as an additional record in approving a loan application. Lenders benefit from this data to ensure the transparency and credibility of a borrower to pay. Mortgage data also serves as a strong decision indicator for the lending institution to avoid unreliable borrowers. Another benefit of using this data is to target a better audience based on their previous mortgage loan. Mortgage data is valuable to lending institutions for risk management, as it allows them to conduct KYC procedures so that they don’t grant loans to borrowers who won’t repay them.
How can a user assess the quality of Mortgage Data?
To assess the quality of mortgage data, users must ask providers where they got their data and what processes are involved in creating their datasets. Good quality mortgage data must also be accurate and reliable. Furthermore, sources of mortgage data must be credible and must be timely. Since some borrowers are unable to maintain a good credit score, data updating important so that the data reflects their most current credit score. Data providers must also offer excellent customer service, and provide extra mortgage information in case questions about the data are raised. Lastly, users may read online reviews to ensure credibility and ask for a mortgage data sample to counter-check if it is worthy.
Who are the best Mortgage Data providers?
Finding the right Mortgage Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Mortgage Data providers that you might want to buy Mortgage Data from are TovoData, ScaleCampaign, Multimedia Lists, The Data Group, and CoreLogic.
Where can I buy Mortgage Data?
Data providers and vendors listed on Datarade sell Mortgage Data products and samples. Popular Mortgage Data products and datasets available on our platform are TovoData Residential Mortgage Liens & Valuations across the U.S. by TovoData, Tovo Data Mortgage Lending Leads USA - 170M+ leads generated online for direct mail by TovoData, and Multimedia Lists - New Homeowners Database USA (1 Million purchases) by Multimedia Lists.
How can I get Mortgage Data?
You can get Mortgage Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Mortgage Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Mortgage Data APIs, feeds and streams to download the most up-to-date intelligence.
What are similar data types to Mortgage Data?
Mortgage Data is similar to Construction Project Leads Data, Flexible Workspace Data, Property Data, Real Estate Market Data, and Commercial Real Estate Data. These data categories are commonly used for Mortgage Data analytics.