Our work
Real Estate & Infrastructure
Ensuring reliable and accurate trends for all participants in the residential real estate sector.
Fusing data science and technology to create new and innovative products to generate new revenue streams from data and grow customer base.
Leveraging behavioral data to develop market Indices
Situation
- PEXA, a world-first digital settlement property platform helps homebuyers and sellers track their settlement progress in real-time.
- To provide greater insight into the mortgage refinancing industry PEXA wanted to develop a Refinance Index enabling mortgage lenders, mortgage securitization holders and government agencies to understand trends, benchmark market share by sector and understand emerging industry risks.
- The Refinance index is calculated against the total market activity at many geographic levels i.e. national, state, metro/regional, local areas etc.
- The index provided PEXA with a unique market insights and benchmarking data product to license to industry participants as well as industry observers looking for lead economic indicators.
Solution
- RoZetta data scientists leveraged behavioral data to develop an effective residential refinance index for PEXA to measure the level of mortgage refinance by geographic market.
- RoZetta designed, developed and delivered the Refinance Index through a automated cloud solution with monthly data updates and the production of indices at all levels of geography (i.e. State, metro/regional, local area markets.)
- The final product seamlessly incorporates into the PEXA web portal to provide subscribers with access to the index history and updates.
- The index tracks the refinance activity value and volume historically and allows for comparison between geographic levels providing the user with invaluable benchmarking insights.
- The Refinance Index provides data-driven insights into property data crucial for governments, consumer lenders and holders of securitized portfolios. See the PEXA refinance index tool here.
Benefits
PEXA was able to accelerate the speed to market in launching the Refinance Index by partnering with RoZetta Technology and accessing a unique blend of industry knowledge, data science and cloud capabilities
The Index enables industry participants to benchmark and compare their mortgage portfolio changes compared to the market - clearly highlighting real gains or losses in market share
Surface any underlying portfolio risks and help with growth and retention resource allocation
The Index creates a new revenue opportunity for PEXA generating value from their rich property market data by providing accurate and timely insights into market performance
As a portfolio management tool, the index is crucial to provide a foundation for future indices and metrics to provide transparency and encourage competition in the highly competitive property market
The Index is a market first in terms of providing quantitative time-series trends at all levels of geography