|
Tips for Life after Refi |
| The richer the interactive data
on your website, the better your chances of identifying
the purchase-loan prospect. Consumers are receptive to
purchase-loan solicitations for a scant three weeks during
the home-buying cycle. |
|
Realtors & Red Herrings |
| Technology, consumers and new
entrants are the common but not the real problems facing
the industry. These are red herrings that will not die,
and that will persist for years, stifling innovation.
There are two real industry problems that desperately
need creativity, capital and new entrants: First, building
broker value (and power) in the eyes of the agent through
central sourcing and management of sales leads. Second,
making the internet a valuable channel for business through
new software and business models that bridge the gap between
high volume, low-value web leads, and the relocation department’s
requirement for low volume, high yield leads. Everything
else is a red herring. So first, let us know the enemy,
the red herrings that persist. |
|
How to Fail at E-mail Marketing |
All your customers are increasingly
tech-savvy, and they expect you to be tech-savvy as
well. How can you reach future generations of home buyers
who live and breathe through their e-mail? Here are
a few tips that definitely won’t work. |
|
Plotting a Servicing Takeover |
It is time to put a new face
to the mortgage banking business. If the servicing team
was in charge of customer retention (instead of the
origination team), the odds of keeping customers in
the portfolio would mushroom. New technology, streamlined
Refi products and data-mining techniques can transform
the business. Putting servicing in charge of retention
efforts costs much less than acquiring loans via the
branch office or through mortgage brokers. To detect
customers’ plans, you need to do more than just
mail a statement each month. You need to help your customers
migrate to e-mail and the web. |
|
A Retention Revolution |
| Lenders need smart tools to detect
when borrowers are entering the ‘buy zone’
for a new home. Think
like a realtor. |
|
Why Can’t A Lender Be More Like a Realtor? |
Lenders now have access to
the same information services and data that realtors
have controlled for so long. The cost of branch originations
is rising, and brokered loans are becoming more expensive.
For most originations, it is only servicing that makes
up for profitless origination. These trends are causing
lenders to look at retaining borrowers, going direct
to consumers and using new media like the internet.
Mostly, the squeeze created by exclusive lender-realtor
alliances is making lenders look enviously at realtors
--the original consumer-direct player. |
|
KPO - focusing on domain expertise |
| In the art of business, the science
of winning lies in recognizing and acknowledging organizational
strengths and weaknesses. Successful business leaders
have emphasized understanding and mitigating flaws, both
from a process and people point of view. |
|
KPO - a new revolution |
| Martin H Fisher once said, “Knowledge
is a process of piling up facts; wisdom lies in their
simplification”. Over the last decade, frenzied
competition has put businesses under enormous pressure,
forcing them to lower their operational costs in a market
troubled by low margins, industry consolidation, and diminishing
global barriers to trade. Knowledge has become the strategic
tool to compete. |
