Project Description

To gain new mortgage and home equity loans

Obtaining a new mortgage is typically a fairly lengthy process. This $1 billion institution recognized the benefit of daily credit monitoring to identify customers in the mortgage shopping process. Home loans bring in a significant margin, and even if only a handful are generated, the loans remain on the books and produce income for 15 to 30 years.

Daily mortgage triggers were implemented for 5 months. When qualified customers made a home loan inquiry at another institution, their information was automatically transmitted to Marquis. A letter was sent the next day, with a pre-qualified mortgage offer. The letter also mentioned various uses for home equity loans, such as home improvements, vacations, and college tuition.

Over the 5-month period, the institution gained 24 new mortgage loans, with total balances of almost $3 million. Even with a response rate of just 0.6%, these new loans represent a margin of $43,883 and an ROI of 483%.