FEATURE
You’re Lending With A Handicap:
PRIVATE LENDING DATA IS STILL IN THE DARK AGES
P
By Kat Hungerford, American Association of Private Lenders rivate lending has become
All good things, and a huge leap
still only guesstimate their true
more tech-savvy than ever,
forward from lenders’ capabilities
market share. And loan terms are
even a decade ago. But where
primarily cobbled together from
conventional mortgage companies
internal metrics, putting eyeballs
platforms
have private lenders beat – and what
on competitors’ published rates,
enable lenders to transact loans
causes lenders to continue to leave
and piecing out indirect data from
faster and more efficiently while
money on the table on Every. Single.
REI and housing market research.
providing internal metrics that allow
Deal. – is industry data.
Doing it right is time consuming and
with
numerous
software
options to market, originate, and service
loans.
These
businesses to know exactly where
– when purchasing data rather than
a deal falls within their guidelines
Even
throughout the life of the loan.
hungry private lending giants can
26
the
most
dialed-in,
data-
relying on incomplete or secondhand accounts – expensive.
