Competitive Market Share Analysis

BUSINESS BENEFIT SERIES:  Market Share  

Industry: Mortgage Origination and Title Insurance
Problem: Lenders and title companies do not have suffi cient information to accurately analyze their market share or the market share of their competitors.
Solution: Obtain market share reports from Marketrac to instantly and accurately gauge market share and gather other competitive information.

Competitive Market Share Analysis 

Typical Business Process:
Many mortgage lenders use Home Mortgage Disclosure Act (HMDA) reports, in conjunction with reports from local or regional data compilers, to obtain a macroeconomic view of the competitive landscape. Unfortunately, HMDA reports, which provide data for the prior year in September of the following year, are often incomplete because lenders are not required to report all loans to HMDA. Title companies use county-specifi c reports compiled by local data providers to gauge their local market share, but they have no reliable resource for accurately measuring nationwide market share. Instead, they must rely on incomplete or limited data complied by various regional data providers or struggle with the narrow reporting criteria of pre-defi ned reports.

Alternative Business Process:
Use Marketrac® to instantly obtain timely market share reports in 1,100 of the most populated counties nationwide. Accessed through a user-friendly, web-based interface, Marketrac enables business managers to customize search results based on geographic selection (state, county, zip code or MSA), time period and loan product or mortgage transaction type, in response to their dynamic business needs. Source data is collected daily from original documents days after recording, resulting in the most accurate and up-to-date reports available from any source.

Expected Results:
By using Marketrac to create market share reports at the macro- and microeconomic level, mortgage lenders and title companies can gain instant insight into their own market share and the market share of their competitors. This knowledge can help them react more quickly — and appropriately — to marketplace changes. Furthermore, knowing how different loan products and mortgage transaction types are performing enables business managers to better predict campaign and sales goals based on market potential, resulting in improved campaign response rates and increased profitability.