Mortgage Returns Launches New Guaranteed Targeted Marketing Program
CoreLogic Releases REO-to-Rental Data Product for Investors
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JUNE 2012
CoreLogic has announced the launch of a new property data and analytics offering that provides enhanced insight to investors participating in the new government-sponsored enterprise (GSE)/Federal Housing Finance Agency (FHFA) REO-to-Rental program and other similar private programs. The new offering provides potential investors with property-level information such as: Average potential rent for the subject properties, based on relevant market information, including nearby multiple listing service (MLS) single family residence (SFR) rental data Capitalization rate information by geographic area Current value of the property through CoreLogic automated valuation models (AVMs) Assessment of neighborhood and market trends
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KANSAS MORTGAGE PROFESSIONAL MAGAZINE
Mortgage Returns has announced the launch of a new marketing program with a money-back guarantee. Mortgage Returns’ first guaranteed marketing program focused on the challenge of customer retention. As mortgage rates reached record lows, Mortgage Returns assessed its customer’s databases and found that nearly 60 percent of homeowners needed a professional loan review. “There is no doubt that this will be a profitable program for us,” said Steve Grossman, managing partner of NJ Lenders. “We started the program two weeks ago, and have already put 25 new loans into the pipeline, a 300 percent return on investment, which is amazing. We are impressed with this program.”
Early results have been tremendous. In the first few weeks of the promotion, Mortgage Returns has seen email marketing open rates of 30.8 percent, more than double the national average of 12.5 percent. And within the first 10 days, more than four percent of homeowners have completed a mortgage analysis with their mortgage professional. “This is exactly our goal,” said Jim Blatt, chief executive officer of Mortgage Returns. “If homeowners continue to trust their originators to manage their loans, they will be rewarded with future purchases, referrals, and refinances. Our job is to make sure the loan review is performed by the mortgage company that closed the loan. We know this results in long-term customer retention, with an immediate short-term payback in refinances. Rates are at a place where most homeowners would benefit from having an in-depth analysis of their loan. Our goal is to make sure that homeowners went back to their originator, not to the mega lenders who are continually advertising broadly on radio and television.” Mortgage Returns utilizes its database management engine to target the right customers and deliver a compelling message on behalf of loan originators. If originators do not close enough new loans to cover the cost of the marketing program, Mortgage Returns will refund the difference. “We know that it is important to see marketing as a real partnership in driving results and not just a service of delivering e-mail or direct mail,” said Blatt. “More than one-third of our customers participated in this targeted marketing program, and we look forward to showing them the results it will deliver.”
NationalMortgageProfessional.com
hensive findings provide all the documentation lenders need in the case of an audit. Lenders can see exactly how each appraisal report measures up to new and existing industry requirements, such as customary and reasonable appraiser fees, technology issues like SAS Type II 70 control standards, and appraisal independence requirements. Lenders can also use the Compliance Center to view appraisal contracts; to audit and remove appraisers; check the license status or possible disciplinary actions of individual appraisers; ensure their specific policies and procedures like TILA triggers and value reconsiderations are being followed; and much more. Compliance Center’s findings also include recent value reconsiderations as well as access very detailed information about every appraisal order, down to the comments, order date, the payment amount and when it was processed for TILA purposes. “With all the different regulations lenders are facing, proving appraisal compliance has been extraordinarily difficult, but we’ve managed to make it easy,” said Brian Coester, chief executive officer of Coester Appraisal Group. “Our Compliance Center provides everything lenders need to stay compliant in their appraisal relationships and their orders—nothing is left to guesswork. Lenders simply select what they want to know about an appraisal, click the print command, and they’re done.” The Compliance Center is accessible through Cloud Control, Coester Appraisal Group’s revolutionary new appraisal management technology and the only appraisal management software built on the award-wining platform of Salesforce.com. Launched in March of this year, Cloud Control offers lenders unlimited customization in managing appraisal orders and services while creating sales and marketing rules that can help them become more efficient, stay compliant and generate new business.