Evaluating Your Portfolio in an Uncertain Market – An eBook for Lenders of All Sizes
How Knowing Your Market Position Can Help Your Clients
Having access to more mortgage intelligence is beneficial for not only professionals in the field, but also for your clients.
By knowing your competitive market position, you can gain insight into details about the geographic distribution of mortgage registrations, lender and municipality shares, the average mortgage size, and more.
All of this information is accessible through LendView, powered by Teranet.
How does this help your clients? Read on.
Find Underrepresented Areas
In LendView, lenders gain an enhanced understanding of the geographic distribution of mortgage registrations.
You can sort using three types of views.
- By Forward Sortation Area (FSA): This view is based on the first three numbers and letters of an area’s postal code, which gives you access to the data of approximately 10,000 homes.
- By Municipality: This view is based on the geographical municipal boundaries and gives access to data from more than 400 municipalities.
- By Land Registry Office (LRO): Based on the geographic county boundaries, this gives you access to Ontario’s 54 LROs.
With this information, you can see how mortgage registrations are distributed across the province and find areas that show potential for growth.
For an example of this data in action, see the Teranet Monthly Market Insights Reports, which takes data from LendView. In the May 2020 report, we showed mortgage registrations in Ontario’s top 20 municipalities in the first four months of 2020.
Looking at this data, you can see that while registrations decreased in Richmond Hill, Milton, and Vaughan, they actually increased in Burlington.
In LendView, you can tailor this information to your coverage of areas and identify where the most registrations are currently happening — or not happening.
Enhance Client Acquisition Strategies
Not only does LendView show the geographic makeup of mortgage registrations, but it provides a much deeper analysis that enables you to derive powerful insights.
- The average mortgage size.
- Distribution of mortgage sizes.
- Monthly discharges.
- Monthly market share.
- The lender share across Ontario.
- Mortgage registrations by property type.
- And more.
You can also filter dashboards by date range, value or volume, mortgage range, and beyond.
With the lender share in particular, you can also see where clients in your coverage area are seeking their funding. These trends can help inform your marketing and understand how you can best position your products and your competitive advantage.
Adjust Strategies for Customer Segmentation and Engagement
As mentioned, LendView dashboards can be filtered in many ways that give you a different view of your data.
This can help you decide how best to segment your customers and measure engagement.
For instance, you might sort data by property type and find trends that you had never noticed within your portfolio. Conversely, you could segment by charge type and seek opportunities based on that segmentation.
This allows you to see your portfolio and industry trends with fresh eyes and gain a new perspective — which in turn could help your clients. If you offer a unique program, for example, this could help you find areas to market that product in, or even find prospects within your existing portfolio.
Access LendView today. Learn more at www.lendview.ca.« Back to Blog