HUD Introduces New Tools As Part of Revised Underwriting Guidance

The ultimate goal of any sports team is to win championships, and there has been a remarkable movement toward using data-based models to help build a winner. If you’re a sports fan, you’re probably familiar with the terms “advanced statistics” or “advanced analytics.” Appropriately, as it is draft season for the NFL, you may have been hearing about the annual “combine”, in which athletes are tested on multiple, standardized metrics so teams can get a better sense of their value leading up to draft day. The general idea behind this is that through the collection and analysis of advanced statistics, measures, and/or data for each athlete, trends can be discerned and decisions can be made based on tendencies. The data can then be used to predict potential future outcomes.

Real estate is no different, and the benefit of having standardized templates and data-based processes in place to provide market statistics and predict trends is tremendous. Imagine a database of information related to a portfolio of projects that allows the user to better understand what type of projects have healthy reserves, versus those that may be struggling; or data that can give a general sense of the cost to replace windows in a particular type of project in a specific region. Or further to that point, imagine the benefits of a data management system that would easily show you the short or long term cost savings for installing a more efficient window.