Given that location comprises approximately 80% of a mortgage lender’s data warehouse, deploying a light-weight geo-spatial mapping solution provides the most economical method of targeting the right borrowers. Unlike tabular data or Excel spreadsheets, maps provide an intuitive interface where users of all types can gain immediate business insights:
- Which competitors are originating the most loans within a 1 mile radius from my local branch?
- Can I prove to a compliance officer that my local branch is servicing low-income zip codes in good faith?
- Which branches can be closed due to a lack of demand?
- Where are my best customers to up-sell better HELOCs?
- Within a 2 mile radius of my local branch, where are the target customers for first-time mortgages? (e.g., Renters with good credit scores, starting families, etc.)