Don’t narrow your focus, expand it
People are staying in homes longer and amassing equity. Instead of moving, they are investing that equity into improvements. It’s an ideal time for financial institutions to grow lending portfolios. Our strategy encompasses product development, consulting, marketing and digital to develop loan marketing campaigns that reach the right people in the right time in the right places. Our standardized reporting for home equity campaigns has been tested and is already showing results.
In one test, a client started seeing results one month after it began and went on to record an increase in HELOC traffic nine out of 11 months. In that time, the financial institution recorded 337 home equity openings with an average balance of more than $33,000, with year-1 interest earning more than $1,000. The client broke even in matched openings in only 4 months. In another test, a client nearly doubled its HELOC openings – from 47 to 93 – in one year.