Make the Most of the Refi Boom !
Posted on Tue, Sep 06, 2011 @ 03:01 PM
Contrary to what may seem logical, the best time to optimize your marketing efforts is during a refi boom...as it is the only way to ensure you maximize the number of loans you are able to fund. Why?
It's quite simple, actually - and the concept applies to both inbound and outbound marketing:
INBOUND MORTGAGE MARKETING
While your originators may have their hands full with inbound calls, how many of these borrowers are actually qualified to take advantage of a refinance? How much time are they wasting talking to those who will not qualify? Today's stringent underwriting guidelines have narrowed the field of qualified candidates.
How can you make sure you are talking exclusively to borrowers who are more likely to qualify? By leveraging our Risk Insight model and real-time screening platform to filter out unqualified borrowers. Risk Insight allows you to approximate credit score ranges...giving you the opportunity to feed your sales team with only the most viable prospects. You can also overlay LTV and mortgage amounts on top of our Risk Insight attribute to get even closer to your desired target. The best part? This filtering process can take place in real time...and we all know how important it is to get in front of hand-raisers before they consult a competitor.
By filtering out unqualified prospects, your loan officers can spend more time talking to those who qualify, allowing you to fund incremental loans during periods of low interest rates.
OUTBOUND MORTGAGE MARKETING
What about those borrowers who are not actively pursuing a refinance? Believe it or not, there are plenty of qualified prospects out there who are not even aware of the latest interest rate trends. Leveraging our exclusive tri-bureau prescreen credit data, you can pinpoint exactly the type of borrower you are looking for. In addition to actual credit scores from all three bureaus, we offer hundreds of powerful attributes that can be combined to create a highly targeted mortgage prospect list that meets your specific underwriting guidelines.
Be the first to knock on these doors, and you will put yourself in a position to capitalize on the latest refi boom while it lasts.
In the face of a declining housing market, economic recession and tighter underwriting guidelines, mortgage marketers have been forced to become even more targeted in their efforts to identify those who are eligible and qualified to take advantage of the latest dip in rates. Laser-focused campaigns leveraging only the most accurate and reliable data are the only way you will ensure you maximize the number of loans you can originate and fund during these short windows of opportunity.
Let our team of experienced direct marketers show you how to make the most of a refi boom. Call 1-800-488-9113 for a free mortgage marketing consultation!