At Polygon Research we use data science at scale, leveraging AutoML and cloud infrastructure to design, model, organize, and publish interactive apps (dashboards) to facilitate the consumption of data around the mortgage transaction by a variety of stakeholders.
Data
In the last decade, the mortgage, demographics, and housing data produced and disclosed to the public has proliferated, creating an opportunity to use it to make better decisions and to drive innovation. We are talking about open data (microdata) at the mortgage application or transaction level, lender/company-level, geography level, person, and household level. Examples are the huge data sets like HMDA LAR, HUD FHA data, Ginnie Mae data, CRA Disclosure/CRA Aggregate data, FDIC branch location and deposits data, American Community Survey Data (ACS 1-year and 5-year), Current Population Survey (CPS monthly and ASEC), FHFA HPI, Freddie Mac PMMS, and many other open data sources blended to inform the dynamics around the purchase of a home and the refinance of a mortgage.
But availability of data by itself is not enough. Data needs to be activated in order to become useful information that will yield strategic insights.
Dashboards
We activate these data sets via interactive, in-memory dashboards which offer effective analysis, collaboration, and decision-making. By enabling shared dashboards among multiple stakeholders, we unlock the opportunity for integrated management of the entire lending process. Instead of just managing sales or product management or compliance in a silo, our market intelligence interactive dashboards allow for an integrated and holistic view of the lenders' activities, products, and clients in the context of the competition, and the housing and demographic makeup of the market.
Empowering your team with a single sheet of music for market intelligence creates an opportunity for innovation and faster growth.
Our description of this process of interdisciplinary, organization-wide activation of mortgage data is MCGI. MCGI stands forMeasure - Compete - Grow - Include, and is our way to tie together not only all the ways you can use our dashboards, but, more to the point, the activities you need to compete in the mortgage market and to achieve all your goals. Through 360-degree analysis, our framework helps lenders and other stakeholders consistently understand each separate use case in context, driving deeper insights and into how to avoid pitfalls while serving your customers and optimizing your growth strategy. Figure 1 provides a high-level overview of the MCGI framework.
Fig 1: MCGI Framework Overview
With MCGI, every team can run their use case - for example sales management, strategic planning, product management, compliance, etc. - with great specificity by market or product, through the same dashboard, leveraging the same data sets. This creates consistency and repeatability of your analyses and allows each team to share their insights instantly and efficiently with all the stakeholders within the organization. These insights can become inputs for investor communication/reports, and for community outreach activities for local loan officer teams.
Benefits
The benefits are in the name of the framework: Measure - Compete - Grow - Include. Polygon Research's clients who use our framework see three distinct benefits:
- Better and faster decisions.
- Time and cost savings.
- Organizational learning and new ideas.
In the last week's blog, we explored Strategic Planning use cases. In the coming weeks, we will go over each of these and more use cases in the context of the MCGI framework.