The tables have turned and today Managing Director Joe Zeibert asks Product Manager Kuhuk Goyal his question — if you’re a lender looking to expand into a new state, how does the pricing you see online for competitors impact the market share of those competitors and how do you take that into consideration while creating a pricing strategy for expansion?
In this edition of 3 Minute Banker, Kuhuk Goyal debuts our newest addition to the Nomis Mortgage tool, Competitive Trend, to show how lenders can analyze their market share, and understand the customer segments where pricing needs the most focus, at any level of granularity a lender is able to act upon.
Using this new dashboard, you’ll be able to analyze how each lender’s market share has been trending:
- Over the past 6 months
- At State, City, & Zip-5 Geographic granularity
- When sorted by Market Share, Total Loan Volume, or Average Loan Amount
- As a local footprint directly compared to a national footprint
Watch below to see Competitive Trend in action!
Check out this video: https://videos.nomissolutions.com/watch/LDoC99vNwCPCQ37Wrvm8qh?