DataTrace Information Services announced on Thursday its launch of MarketView – a platform that will provide title companies with accurate market insights including existing market share.
Title companies will have the ability to search market data nationwide by state, county, city and ZIP code as well as timeframe and transaction type, the release said. The platform includes automated report generation via email and allows users to instantly share those metrics with their organization.
According to the release, MarketView’s conception was a result of “increasing market fluctuations creating challenges for title companies that rely on property sale and mortgage origination reports” and to better “identify metrics that drive their business development.”
The platform will allow users to measure the performance of each branch against other branches and competitors as well as monitor new competitors in the market.
Other reports offered include trend, loan officer, and title/lender intersection reports that DataTrace said can be used to identify and compare relationships between title companies and lenders. The MarketView Loan Officer Share Report reviews the volume of loans processed by loan officers and mortgage brokers, as well as the transaction type and loan amount.
Market reporting can then be verified through the Nationwide Multistate Licensing System consumer access website that is available in reports.
As of right now, DataTrace Information Systems distributes title history information property tax assessment and payment data, document images and property profiles in 47 states and said its MarketView data covers 85% of the U.S.
“MarketView equips our clients with critical market intelligence necessary to drive strategic business decisions, adapt to changing conditions and ultimately grow their business,” said Robert Karraa, president of DataTrace.