Mortgages take the stage on real estate sites
Homethinking,
the leading real estate agent review site, adds an application for
accessing lender data compiled within the Federal Reserve's Home
Mortgage Disclosure Act (HMDA) database for the year 2006. Although the
data is old, it reveals geographic distribution of loan amounts,
subprime usage and specific lender activity by county.
The implication of the data is to understand the counties where subprime and its associated rate resets will be significant. Homethinking's Niki Scevak and Inman News' Matt Carter describe the data and impact in more detail.
Up to now, real estate listings sites have relegated their mortgage offerings to affiliate mortgage applications that have become recognized by consumers as (annoying) lead generation tools. With mortgages so hard to get lately, real estate sites like Zillow look to offer more innovative products like their mortgage match up service to cater to the consumer. Another valuation modeling site Cyberhomes will eventually leverage their parent company Fidelity National Title's title data to provide customized consumer-facing mortgage products because they can track users visiting their site, which valuations are checked and then deduce how serious the client might be for a mortgage. A friend at a real estate portal mentions to me that he's hearing more pitches on mortgage products since Zillow Mortgages launched two months ago. It's the new game in town... expect more announcements.
The implication of the data is to understand the counties where subprime and its associated rate resets will be significant. Homethinking's Niki Scevak and Inman News' Matt Carter describe the data and impact in more detail.
Up to now, real estate listings sites have relegated their mortgage offerings to affiliate mortgage applications that have become recognized by consumers as (annoying) lead generation tools. With mortgages so hard to get lately, real estate sites like Zillow look to offer more innovative products like their mortgage match up service to cater to the consumer. Another valuation modeling site Cyberhomes will eventually leverage their parent company Fidelity National Title's title data to provide customized consumer-facing mortgage products because they can track users visiting their site, which valuations are checked and then deduce how serious the client might be for a mortgage. A friend at a real estate portal mentions to me that he's hearing more pitches on mortgage products since Zillow Mortgages launched two months ago. It's the new game in town... expect more announcements.
Wow there Pat! "Homethinking, the leading real estate agent review site."? You may want to check the Compete.com stats. We have nearly twice as much traffic as Homethinking. What makes them the "leader" in this space? I'll give them "first" but definitely not "leading".
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My bad Damon, I forgot about Incredible Agents... I'll try to remember not to write in absolutes.
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this is a really nice post thanks for sharing your insight about homethinking
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