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Lenders push unified digital analytics to cut application drop-off
HousingWire estimates data fragmentation and poor data quality cost mid-to-large lenders $12.9 million annually, as more borrowers abandon online mortgage applications.
Mortgage brands are shifting from relying on branch scale to delivering consistent digital experiences across every touchpoint of the home loan process, HousingWire writes.
The outlet says unified analytics can help by aligning valuation models and sharing property data across systems through APIs and other integration methods, which it links to reducing application abandonment.
HousingWire adds that the industry has become more fragmented, with rapid scaling creating operational silos between servicing, marketing, and origination platforms, leaving lenders structurally unable to provide a seamless, connection-driven borrower journey.
In the aftermath of the housing finance crisis, the report notes that the traditional blueprint centered on being big and widely available, but today the winners are expected to be those that manage data consistently across stages, citing an estimated $12.9 million annual drag from poor data quality and fragmentation.