Mortgage Data Standards Technology, business and policy joining forces to advance the industry
In this report, we analyse the potential impact of initiating a system of data standards in the Canadian mortgage industry. Based on findings from various reports commissioned by CMHC and other literature, we find that the development of a mortgage data standards framework in Canada represents a potential net benefit to all industry participants, by:
- generating operational efficiencies of at least $4 billion annually;
- accelerating digitization and the future of mortgages with a foundation for innovation development and easier technology adoption;
- reducing mortgage funding costs by increased investor confidence; and
- enabling the full potential of advanced analytics for business development.
Read More Here!