Big Data Tells Mortgage Traders an Amazing Amount About You
- Wall Street startup gives mortgage bond traders vivid data
- Consumer rights watchdogs raise concerns about privacy
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If you borrowed to buy your home, chances are TheNumber knows a good deal about you.
The New York-based startup sucks in data from marketing firms, public loan filings, courthouses and dozens of other sources, and sells it to mortgage bond and loan traders. The vivid detail the company turns up -- the types of stores borrowers tend to shop at and whether they rent out their homes on Airbnb Inc., for example -- may unsettle privacy advocates, but it’s a boon for investors trying to figure out how likely homeowners are to pay their obligations.