SALT LAKE CITY, Utah, March 9, 2023 (SEND2PRESS NEWSWIRE) — Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced the launch of the “Mortgage Industry Benchmarks” report, a monthly newsletter compiling lender and loan officer (LO) production data and trends to facilitate peer-to-peer comparison. The report leverages the mortgage and real estate data that MMI aggregates, normalizes and delivers to clients, providing a high-level summary of the insights lenders and LOs need to evaluate their performance relative to their peers.
Image Caption: Mobility Market Intelligence (MMI).
Lenders are categorized into three tiers based on their annual production:
- Prime ($5 billion and above);
- Capital ($500 million to $5 billion); and
- Select ($50 million to $500 million).
The report also provides insights into the percentage of month-over-month production growth/loss, average and median deal size, percent of purchase business, six-month trends for purchases versus refinances, and overall production trends covering the past six months.
LO production-based categories include:
- Unicorn (> $100 million annually);
- Diamond ($50-100 million);
- Platinum ($20-50 million);
- Gold ($10-20 million);
- Silver ($5-10 million); and
- Bronze ($2-5 million).
From here, LOs can compare their performance by production volume, deal size and percentage of purchase transactions. In addition, LOs and lenders can see the top five rising and falling states and the top 10 hottest counties in terms of production.
“In today’s extremely competitive marketplace, lenders and LOs need to know where they stand relative to the market overall and against their peers,” said MMI founder and CEO Ben Teerlink. “We launched the ‘Mortgage Industry Benchmarks’ report to help lenders and LOs put their performance into context relative to industry trends and arm them with the information they need to make strategic decisions. Organizations and individuals can use these reference points to evaluate internal LO performance, generate reports to upper management and self-scout internal company performance. The ways this data can be used is endless.”
The “Mortgage Industry Benchmarks” report newsletter is free to all industry participants. Sign up for the “Mortgage Industry Benchmark” report newsletter here: https://pages.mmi.io/benchmark-newsletter-signup. In addition, MMI’s Premier Enterprise customers have access to a custom dashboard hub where they can view and filter similar reports, graphs and data sets. Existing MMI customers should contact their account representative to learn more about the additional features available through the MMI platform and to gain access to these dashboards.
About MMI
Mobility Market Intelligence (MMI) is a market leader in data intelligence and market insight tools for the mortgage and real estate industries. Headquartered in Salt Lake City, the company’s signature product, MMI, provides actionable intelligence for lenders, real estate agents, real estate brokerages, title companies and others in the real estate industry. MMI is currently used by more than 450 enterprise customers, including 20 of the top 25 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.
News Source: Mobility Market Intelligence