Until very recently, the mortgage business revolved around paper. In that universe, a borrower’s personal information and all the details of their loan were written down on a product made from a tree and stored in a filing cabinet. The only way to access that information was for a human being to physically find the file and read it. Analysis was possible, but limited to the ability of people to create, update and share spreadsheets.
In the feature story of the April 2018 issue of HousingWire Magazine, HouseCanary’s Martin Morzynski and Alex Villacorta talk about the value of big data – including what it can tell you (as well as what it can’t):
“With the advance of APIs and white-label web products, mortgage companies can now offer consumers direct access to big data. “
“Providing a level of detail that consumers crave but are unable to access is going to be huge for any data company that wants to make it in the future. “
– Martin Morzynski, CMO, HouseCanary
“After building and selling our real estate data and products since 2014, we’ve learned that there’s a lot data can tell you about a home – and a lot that it can’t tell you. “
“When it comes to outliers, like the highest-priced or lowest-price home on a block, then human oversight to fine-tune the details is critical to achieving an accurate home value. “
-Alex Villacorta, EVP of Analytics, HouseCanary
Read the full story on HousingWire.