Understanding and predicting borrower behavior has always played a major role in the lending business. Despite its clinching role, the mortgage industry, has never had a sophisticated mechanism in place to analyze borrower behavior. This, even after the lesson learnt in 2008, when default rates ruined the country’s economy. Credit score —a tool developed in the 1980s—still happens to be…
March 2015
In the mortgage industry, the one thing that is critical to a lenders business is customization. As lenders have to build their business around distinct customer segments, customization can transform the borrower-lender relationship into a personalized experience that customers crave for. But what does personalization mean for the lender? It means engaging with the customer in their preferred ways at…