CI Spotlight: Equity Alerts Proactively Identify Ripe Refinance Opportunities

Residing in your customer database right now are thousands of homeowners whose original home loan amounts, amortization schedules, and current estimated home values make them ideal candidates for your home equity lines of credit (HELOCs), home equity loans, or cash-out refinancing. Yet, until recently, your loan officers had to wait for the homeowners to make the first move. 

But they don’t have to be complacent anymore. That’s because the equity alerts in Total Expert Customer Intelligence can help loan officers identify the best, most advantageous time to proactively engage with each borrower/consumer about how they can take advantage of the equity in their home.  

And you have a chance to grow your funded loan volume by millions of dollars every month. 

In just the month of May, Total Expert’s Customer Intelligence surfaced 80,000 equity alerts for the Total Expert customers leveraging Customer Intelligence. That’s about 3,450 leads per customer in just one month.  

And all of that came from opportunities hiding in the lender’s database—opportunities its loan officers may never have known about without Total Expert Customer Intelligence. 

Put simply, equity alerts are a great way to proactively identify homeowners who are perfect targets for equity-based refinancing and entice more of them to take advantage of it. Here’s how they work: 

  1. Financial institutions set a minimum threshold in Total Expert Customer Intelligence that indicates when they want to receive notifications about their contacts’ estimated home equity. 
  1. Total Expert Customer Intelligence synthesizes data about a homeowner’s original loan amount, amortization schedule, and current estimated home value to see if that threshold is met 
  1. When it is, a Total Expert Journey delivers a series of personalized emails, texts, and other outreach intended to educate each homeowner about the most appropriate cash-out or home equity options for them at that point in time. 

Find out what our Customer Intelligence solution could do for you with our handy ROI calculators for lenders/loan officers and banks/credit unions

Watch for other upcoming blogs in this “Customer Intelligence (CI) Spotlight” series, where we’ll dive deeper into how our Customer Intelligence works and how it helps real Total Expert customers drive millions of dollars of additional lending revenue.