Denver, Colo. – April 25, 2024 – In its April Insights Report, STRATMOR Group delves into the importance of sophisticated data analysis and shows how benchmarking, historical trend analysis, and peer data can significantly impact a lender’s success.
In the April InFocus article, Senior Partner Nicole Yung outlines several critical strategies that enable mortgage lending executives to transform raw data into actionable insights to improve decision-making and give their organizations a competitive edge.
Yung discusses the challenges facing mortgage lending executives looking to make sense of the data they have at their disposal and what additional information they need to consistently make more informed decisions. In particular, executives need benchmarking data from credible sources to accurately determine whether the metrics they are tracking are as good or as bad as they believe.
Historical trend analysis and peer data, Yung writes, “add meaning to a particular lender’s metrics and can show them what impact their actions have on their ability to compete.”
STRATMOR believes that the most critical metrics lenders should track fall into five categories:
To learn more about how to use insights from industry data to develop strategies for navigating today’s market challenges, check out Yung’s article, “Amplify Your Vision to Illuminate Business Opportunities and Risks.”
In a second article in this month’s report, STRATMOR Customer Experience Director Mike Seminari explains how lenders must exceed a borrower’s expected level of service to gain coveted word-of-mouth referrals.
According to Seminari, “The key to delighting borrowers, and therefore to generating word-of-mouth referrals, is to operate in the world of the unexpected.”
For ideas on how to deliver unexpectedly good experiences that elicit unprompted word-of-mouth referrals, read Seminari’s Customer Experience Tip, “An LO’s Guide to Creating Unexpected Delight for Borrowers.”
Click here to read the April 2024 edition of STRATMOR’s Insights Report.
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