Gallus Insights, as provider of proprietary technology that helps lenders and servicers make better decisions using internal and external data, has released an upgraded version of its cloud-based analytics platform to help clients better navigate market shifts. The latest version of the platform includes a new Home Mortgage Disclosure Act (HMDA) reporting tool and comes on the heels of $1 million in pre-seed funding.
In the normal course of business, mortgage companies create an enormous amount of new data that includes origination metrics, employee information, corporate data about earnings, investors and capital markets, and more. But most of this data resides in disparate systems and formats, including images and video, making it difficult to access, analyze and distribute across an organization without significant capital and human investment.
Using its cloud-based advanced analytics platform, Gallus connects directly with a mortgage company’s disparate internal systems and databases and turns data into insights for managers and C-Suite executives. The company’s technology brings data into a computable environment and delivers relevant, quantitative insights so real estate finance firms make better decisions.
Released today, the upgraded Gallus platform includes a beta version of a new HMDA tool to deliver competitive intelligence at the user’s fingertips. The Gallus HMDA tool allows users to pull insights on the total market, specific geographies, products and even peer lenders. Unlike other HMDA reporting methods that use static data sources and are extremely difficult to read and understand, the new tool delivers insights in seconds with vivid detail at a level that does not exist in the market today.
“Mortgage leaders cannot manage effectively if they cannot measure their operations,” Gallus Insights Co-Founder and CEO Augie Del Rio said. “At the same time, hiring an entire team of people to process and analyze data manually is expensive, time-consuming and prone to error. With our updated platform, we’ve invested in the most current and productive technology to accomplish these tasks efficiently and generate stronger insights, so that home lenders and servicers don’t have to.”
The improved platform comes on the heels of $1 million in pre-seed funding that has been secured from current clients and other industry participants.
“I was a Gallus customer who saw firsthand how Gallus’ platform can deliver insights in seconds at a level of detail that was previously unattainable,” said Brady Yeager, a Gallus pre-seed investor. “After we utilized the platform and saw the benefits for ourselves, I was compelled to invest in Gallus and be a part of its success.”
Access to reliable and cost-effective advanced analytics is one of the most persistent problems in the mortgage industry, according to Del Rio. “Given the recent market shift, what was important to mortgage companies during the refinance frenzy is effectively irrelevant today,” he said. “What does matter is data that helps lenders and servicers improve operations and income and how easily that data can be accessed and used.”
For example, one area impacted by today’s higher interest rate environment is pricing exceptions, which were not as relevant in 2020 and 2021. Gallus clients can greatly benefit from the company’s analytics that provide insights about which loan officers, branches or geographic territories are seeing the most exceptions. The platform helps mortgage bankers better manage their human resources, particularly since volume isn’t the sole metric in making decisions related to an originator or team.
With the Gallus platform, data about borrowers, loans and employees can be presented based on local, state or national views. Companies can also benchmark their performance against industry-wide metrics that can be purchased. And because its tech stack relies on Amazon Web Services (AWS) and Snowflake Data Cloud for unlimited, redundant data storage, the platform easily scales from a small lender to the largest mortgage lender in the country.
“Our platform goes far beyond traditional enterprise software that only provides general performance metrics with limited flexibility,” Del Rio said. “It gives clients specific metrics that are relevant to the mortgage industry and their business—insights that have never been more valuable than they are today.”
Tony Garritano is the founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 20 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting PROGRESS in Lending Association was the next step for someone like Tony, who has dedicated his entire career to providing mortgage executives with the information that they need to make informed technology decisions to help their businesses succeed.