Mortgage refinance data is good for telemarketing and direct mail campaigns. While data isn’t the most exciting element in the marketing industry we have often said that it is the oil that makes the engine work. Without good data, business does not run smoothly! Recent developments in the mortgage industry have created the need for a different filtering set than we had used in the mortgage industry previously. With guidelines expanded for the HARP Mortgage refinance program, there is definitely a strategy specific to HARP Mortgages when it comes to filtering data. Some mortgage firms out there may not want to even deal with HARP mortgage so sticking with filtering that works for traditional refinances, FHA and VA loans may be the way to go. Either way, there are opportunities to help target in phone and mail campaigns that will perform extremely well.
Homeowner mortgage refinance data is good for direct mail and telemarketing. For companies focused on traditional refinances there is a filtering strategy that is separate from the filtering that is done for the new revamped HARP Mortgage Program otherwise known as HARP 2.0. Common filters for homeowner mortgage refinance data include: loan amount, loan to value ratio, interest rate, current lender, interest rate, loan type, modeled credit rating, self-reported income, property type, current FHA loan holder, current VA loan holder, mortgage origination dates, occupancy types and geography broken down by state, city, county and zip code. There is no data set that is perfect so with the homeowner mortgage data set we recommend that you lower the maximum loan to value ratio requirement of traditional refinances to 70% or below for when acquiring data. This should minimize the occurrence of loan to value ratios that do not qualify but note that it will never mean that everyone you contact will meet the loan to value requirement of the program. Hopefully firms that are doing traditional refinances also have the ability to do HARP Mortgage Refinances.
HARP Mortgage refinance data is really just a twist on homeowner mortgage data. With the removal of the loan to value ratio for this program, the HARP Mortgage lenders that are taking applications for HARP mortgage refinances can use data that starts at 75% or above combined with chosen filters just like those above which include: loan amount, loan to value ratio, interest rate, current lender, interest rate, loan type, modeled credit rating, self-reported income, property type, current FHA loan holder, current VA loan holder, mortgage origination dates, occupancy types and geography broken down by state, city, county and zip code. Again, there is no perfect data set but we can help you to as close as data allows you to be to your ideal prospects.
Real Homeowner Mortgage Refinance Data focuses on known payment histories, known credit rating, known loan amounts in addition to filters like self-reported income, property type, occupancy tape, loan type, origination date, interest rate and more. It is considered a more accurate data set but it does come at a premium that some say negates the benefit of its accuracy. We will leave that comparison and your conclusion up to you. The data could be filtered for HARP Mortgage or Traditional Mortgage Refinance campaigns for mail and telemarketing. Please note that this data is not known for being as accurate with current phone numbers as the modeled homeowner data is.
