Client Need:
A large national lender wanted to analyze 80,000 customer turn downs to determine if the leads were funded elsewhere and if so, with which lender.
Solution:
The client provided the customer turn down file to CoreLogic via Vector® Batch Service. Upon receipt, mortgage transaction information was then added to the file through a simple match and append process. An analysis of the results identified details of each transaction, such as the loan amount and interest rate if funded. This helped the client identify why the customer chose an alternative lender. Any leads without funding history were classified as active and an aggressive call campaign was launched around that particular segment.
Results:
The lost lead analysis enabled the client to determine that a competitor funded one of eight loans. The adjustments made based on this research significantly improved the lead conversion. Match & Append Database Services is now an integral part of this client's ongoing lead analysis and reporting processes. Additionally, profitable customers have been identified and the lender is now using similar attributes to search and build targeted direct marketing lists via ListSource.
