Nomis Solutions, a fintech innovator focused on ensuring ongoing value creation for the world’s smartest financial institutions, is seeing widespread adoption of Nomis Mortgage, part of the Nomis (US) Mortgage Platform. Since its launch earlier this year, Nomis Mortgage customer subscriptions have grown over 125 percent, attracting both industry leaders as well as smaller, tech-forward lenders. Product usage trends indicate that customers have quickly integrated Nomis Mortgage into their pricing toolkit to keep a finger on the pulse of a volatile environment.
“Our analysis of usage stats within the platform underscores that Nomis Mortgage equips lenders of all sizes to dramatically increase the granularity of their pricing strategy,” said Joe Zeibert, managing director of global lending solutions at Nomis. “For example, when the FHFA announced an increase of 50 basis points for refis, we immediately saw a usage surge as lenders determined how best to adjust their rates in response. It’s clear that lenders are using real-time data to evolve their pricing strategy and choose between volume and margin in specific markets.”
“We have found Nomis Mortgage to be very beneficial for recruiting and entering new markets. As a growing mortgage lender, it is crucial for us to have real-time market color when competing for new recruits. The Activity alerts are also very useful as they have allowed us to take a more tactical approach on tweaking pricing daily,” said Devin Norales, director of capital markets at Premier Lending.
“Nomis built exactly what any modern lender needs: real-time market data to inform strategy. We were thrilled to find this level of transparent market information,” said Luke Johnson, CEO of Neat Capital, a venture-backed fintech lender using Nomis to shape its extraordinary growth trajectory.
Just six months after its release, mortgage lenders of all sizes now rely on the advanced real-time mortgage rate pricing analytics and intelligence delivered by the Nomis Mortgage Platform. They have embraced it as a secret weapon that gives them a competitive edge in the marketplace and differentiates their brand with consumers. Three distinct usage trends have emerged:
- Frequent fine-tuning of margins to maintain strategy in specific markets and avoid costly mispricing.
- Rapid response to changes and uncertainty, such as the now-delayed FHFA adverse market refinance fee
- Formulation of strategies to increase both margin and volume.
Mortgage institutions are not the only players to tap into the power of the Nomis Mortgage Platform: Heitman Analytics and Sales Boomerang have both announced integrations to deliver new services and benefits to their respective customers.
Heitman Analytics subscribers can now access their rate and pricing reports on Nomis technology for a more dynamic and flexible way to drill down and analyze pricing efficiencies and competitive positioning. Combined with reports from Heitman Analytics, the granular market and competitive insights from Nomis can further enhance the strategy and tactical movements of mortgage lenders.
Sales Boomerang has integrated Nomis Mortgage to enhance its Sales Boomerang Rate Watch+ program so it can provide a full matrix of rate solutions to lenders. Lenders now receive notifications broken out by each loan product (FHA, VA, Conventional, etc.) as well as CLTV and state-level rate data. As a result, lenders can now easily focus on the benefits for each individual borrower to determine when a borrower will benefit from a better rate program based on various loan solutions, such as 15-year, 30-year, and 5/1 ARM.
In today’s highly competitive lending environment, a real-time view of the market equips bankers to make offers that benefit both customers and the institution. Nomis Mortgage, part of the Nomis Mortgage Platform, provides detailed, real-time market intelligence so mortgage professionals can:
- Identify market opportunities and act
- Use competitive intelligence to protect your business
- Optimize operations while managing for profitability
- Build trust with customers at point-of-sale