Are transaction and loan information missing?
In this knowledge base article, we acknowledge the importance of reliable data and aim to provide insights into the potential reasons for missing loan information and data inaccuracies.
Data comes primarily in two buckets:
- Real Estate Transactions
- Loan Details
Usually, you'll see real estate transactions populate in the system very quickly - within 0-3 days from the time the property was listed or closed. Loan information lags behind real estate data as explained below. That's why you'll see the "TBD" and "N/A" labels for loan information next to real estate transactions.
Reasons for Missing Loan Information and Data Inaccuracies:
- Data Availability:
There is typically a 4-6 week delay in obtaining data from county records after settlement. In rural counties, this delay may be even longer, especially when physical capture of data is required at the county office. We'll list loans as "TBD" for the first 60 days after a real estate transaction closes. After that, we'll switch it to "N/A" or "not available" because we're not sure if/when we will receive that information. - Incomplete or Inaccurate Data:
Sometimes, the data obtained from county records may be incomplete or contain inaccuracies. To address this issue, proprietary algorithms are applied to automatically correct mistakes where possible. Any remaining inconsistencies are manually reviewed and corrected. - Limited Access to County Records:
In some cases, we may not have access to all county records, which can result in missing loan information. If patterns of missing records are observed in a particular county, we appreciate users notifying us so that we can work on improving our relationships and access to data in that specific area. - Cash Transactions:
Loan information may be missing if the transaction was a cash transaction, as there may not be a loan associated with it. (These could show up as "N/A" in our system, but we're working on improving the classification.)
Our Commitment to Data Accuracy:
We understand the importance of accurate and up-to-date data for real estate and mortgage professionals. Our team strives to gather complete and reliable data to provide valuable business intelligence. We constantly work on improving our data collection processes, algorithms, and relationships with county offices to enhance the accuracy and timeliness of the information provided. Our commitment to improving data accuracy remains steadfast, and we encourage users to reach out to us with any further concerns or observations.