Faster, smarter modelling and targeting—for mortgage companies looking to grow their business, AI analytics offers a powerful tool to identify valuable leads and opportunities. Now, brokers and lenders have a new tool in their arsenal to make tapping into these AI-driven insights simple and seamless.
Announcing ATTOM’s new delivery system for Snowflake. The latest in ATTOM’s ongoing expansion of modern, cloud-based data integrations, this new release delivers our extensive and up-to-date property datasets directly into the Snowflake environment.
With ATTOM and Snowflake together, mortgage companies can unlock instant access to powerful insights, using market trends, property values, existing loan data, and other datapoints to reveal actionable opportunities for revenue growth. Here’s how.
What is Snowflake?
Snowflake is an all-in-one platform that makes it simpler for businesses to use AI. It’s a cloud-based solution that houses your datasets and allows you to set up data warehouses and augments in-house data with access to third-party datasets such as ATTOM’s extensive national real estate and property data.
With AI for Business Intelligence, teams can easily tap into the hidden insights contained within all that information.
Like other generative AI solutions gaining in popularity the last few years, Snowflake’s Cortex interface is conversational, there’s no coding or SQL knowledge required. You can simply ask questions. For example, what areas are forecasted to see sales growth in the next year? Snowflake queries your data and gives you the answer.
Once your data is in Snowflake, it’s also simple to set up automated dashboards and data visualizations to give you a clear, ongoing picture of what’s happening, without any help from your IT department!
How Mortgage Companies Can Use AI to Drive Business
There’s no shortage of generative AI tools these days that can provide smart-sounding answers for all your business questions. But what you may not realize is the quality of those responses all comes down to the data that informs your AI.
As the saying goes, “garbage in equals garbage out.” This means issues such as outdated information, messy or redundant records, or incomplete datasets and other data issues can skew AI-driven insights and erode the effectiveness of AI as a business tool.
In fact, in a survey of more than 275 businesses conducted by MIT Technology Review Insights in partnership with Snowflake, a whopping 78% of companies said they are “not very ready” to leverage generative AI due to data issues.
That’s why ATTOM’s new Snowflake delivery system is exciting news for mortgage companies looking to identify new business opportunities and grow value from existing customers.
With comprehensive and current real estate and property data on more than 158-million parcels and properties across the U.S., there is no more complete source of real estate intelligence than ATTOM’s datasets. And ATTOM’s Snowflake delivery system—simply send us your Snowflake account information to automatically access our data in Snowflake—relieves the technical challenges associated with transporting huge data files into Snowflake and extracting their knowledge. There’s no setup, no infrastructure requirements, no ETL processes, or anything else—simply log into Snowflake to tap into smarter business insights.
With more than 7,200 discrete attributes and nearly 30 billion rows of transactional-level data, there are countless types of intelligence you can leverage. Here are some ways mortgage companies can use ATTOM’s AI-ready data and the Snowflake platform to grow their business:
- Identifying high-growth areas for marketing targeting
Use sales volumes, neighborhood trends, foreclosure activity, loan data, and other datasets to identify off-the-radar neighborhoods with a high number of prospective and new homebuyers in need of mortgages.
- Finding potential first-time homebuyers
Rising rents and rising income can pull the trigger on the decision to finally buy a home. Rental price estimates and demographic data such as salary income and family size can also identify strong leads for new mortgages.
- Mortgage renewals and retention campaigns
Mortgage data such as origination dates can help you target homeowners who will soon be renewing their mortgages with pre-emptive refinancing offers and lock-in opportunities.
- Refinancing and HELOC candidates
Overlaying historical mortgage data with property valuation AVMs enables you to find homeowners whose properties have appreciated significantly, growing their home equity.
- Salesperson/broker benchmarking and goal setting
Local market activity and mortgage information can help you better understand what “success” looks like—and optimize performance goals and incentive plans to drive your sales teams.
Better AI Insights Start with Better Data
Solutions like Snowflake are helping businesses gain an edge from AI, making it simpler to store and access massive amounts of data and to leverage that information to make smarter decisions.
But the success of any AI initiative depends on the breadth and quality of the underlying data. That’s why ATTOM and Snowflake together pack a powerful punch for mortgage companies using AI to seek out growth opportunities.
Check out our Snowflake delivery solution now to learn how you can get started.
