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Overview
A successful real estate lending program needs to include well executed, strategically targeted marketing. CUNA Mutual Group’s Loan Generation Marketing Programs can help credit unions access marketing solutions that produce measurable results for their real estate lending programs.
Home Equity Recapture targets "lost" home equity loans by identifying those creditworthy members that have home equity loans or lines elsewhere. With a focus on capitalizing on newly opened loans, loans reaching their term, and members with large outstanding debt (as identified on the credit report), this complete – design to mailing – direct mail program offers mailings to pre-qualified existing or potential members.
Home Equity Acquisition identifies and targets a broad range of qualified members and/or potential members for home equity loans/lines of credit. This program screens for presence of a mortgage loan and qualified credit.
Mortgage Recapture focuses on creditworthy existing or potential members that have an existing higher interest rate mortgage, have ample equity to support the refinance and have a need to refinance.
Mortgage Acquisition has two options available with the "Purchase Money First-time Buyer" program selecting young, income-producing, creditworthy members that do not currently have a mortgage and the "Purchase Money Movin’ Up Buyer" program which identifies members or potential members that are higher income-producing, creditworthy members with available equity and an existing XX-year old mortgage (indicating time is ripe to move up).
Advantages for your credit union:
- Maintain share of the loan market by bringing back lost home equity loans
- Avoid mass marketing by efficiently targeting only "qualified" members or potential members who have an increased likelihood to respond based on credit-driven data
- Stretch marketing resources and budget by taking advantage of a turnkey program with support from start to finish
Advantages for your members:
- Save money for those members charged too much by another financial institution by refinancing to a credit union loan and/or consolidating additional debt
- Enhance the member's Primary Financial Institution (PFI) status
Advantages for your employees:
- Offer turnkey program - from design to copy and member selection to mailing
- Streamline approval process by producing responders that are already pre-qualified
Take the next step:
- Contact CUNA Mutual's Loan Generation Marketing at 1-800-356-2644 x2221
- Call your CUNA Mutual Sales Executive at 1-800-356-2644
- E-mail us at growloans@cunamutual.com
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