02 Jul Big Data Startup Provides a Large Amount of Consumer Data to Mortgage Traders
New York-based startup, TheNumber, acquires large amounts of customer data from various sources including courthouses, public loan filings, and even marketing firms. The information collected is then sold to mortgage bond, and loan traders.
Mortgage investors and traders value information they acquire to make sound decisions in providing different qualities of loans.
But access to too much information has raised concerns among consumer rights advocates stating that loaners could face loss of privacy or face discrimination.