Big Data Tells Mortgage Traders an Amazing Amount About You; Matt Scully; In Bloomberg; 2017-06-29.
- Wall Street startup gives mortgage bond traders vivid data
- Consumer rights watchdogs raise concerns about privacy
- New York
- Hans Thomas
- Guhan Kandasamy
- Ziggy Jonsson
- Founded 2015
- Claim: <quote>The average fund manager can gain 0.40 to 0.70 percentage point of return by using more intelligent data when trading mortgages<snip/></quote>
- <quote>Regulators could conceivably deem TheNumber a consumer credit bureau like TransUnion or Experian Plc.</quote>
- Propensity Scoring… ,br/><quote>TheNumber tries to determine how much pride a homeowner probably has in his or her property, based on information it gleans from third parties, such as whether the resident tends to click on online ads from home improvement and gardening stores. It’s not a credit score, but<snip/></quote>
- Mortgate (financialization & repackaging) Regulation
Reg AB II, SEC
<quote>ended up requiring less information from issuers than it had originally planned, to protect borrowers’ identities.</quote>
- (no reference given) An RFC; “The Consumer Financial Protection Bureau”; 2017-02.
solicitation: <quote>comments about the benefits, and risks, of using alternative data.</quote>
In order of appearance
- John Ardy, chief executive officer Resitrader (a mortgage resale market)
- Lee Tien, a senior staff attorney, Electronic Frontier Foundation (EFF)
- Frank Pasquale, professor, Francis King Carey School of Law, University of Maryland.
- Jeff Taft, partner, Mayer Brown (legal advice)
- Michael Osnato, ex-”head” of “an enforcement unit”, Securities and Exchange Commission (SEC)
- Michele Raneri, (a) vice president of analytics and new business development, Experian
- Paul Mangione, now-consultant, ex-staff, Apollo Residential Mortgage. Mangione
- Brian Tortorella, staff, Smith Graham (mortgage trading, arbitrage).
- Adam Murphy, founder, Empirasign Strategies LLC (mortgage trading & data)
In Bloomberg …