The objective of the program is to provide a turn-key solution
between the lender, and the repository to reduce the loss
of servicing revenue caused by portfolio run-off.
Banctel’s Mortgage Retention Program combines
three important ingredients:
- Banctel receives leads by means of one of the repositories,
anytime a borrower with specific triggers (established by
our clients) has had credit pulled from another financial
institution relating to their mortgage.
- Banctel makes primary voice contact with the borrower
to survey them on their specific mortgage needs and inform's
them of our client’s rate reduction program and the
advantages of staying within our client’s portfolio.
- Borrower’s that want to take the next step are transferred
and introduced to a Mortgage Specialist within our client’s
facility to take the next step.
Mortgage Retention Successes:
- 30-40% first-day contact rate (work and home numbers
provided).
- 70-75% three-day contact rate (work and home numbers
provided).
- 30-35% of the borrower’s contacted say “yes” they
want to speak with a mortgage originator within our client’s
facility.
ARM Maturation Program
The objective of the program is to contact the ARM Portfolio
customer prior to the adjustment period, proactively
averting defection.
Banctel’s ARM Maturation Program incorporates
the following:
- Banctel receives leads directly from the client’s
existing portfolio.
- Banctel makes primary voice contact
with the borrower to remind them of the impending maturation
date. This creates a value-added perception of the lender
for the borrower, and facilitates the natural progression
of the borrower being willing to explore alternative
products, and remaining within our client’s portfolio.
- Interested
borrowers are transferred, and introduced to a Mortgage
Specialist within our client’s facility,
to take the next step.
High Rate Conversion Program
The objective of this program is to contact borrowers and
present alternative, lower payment options, which are geared
toward retaining their loyalty.
Banctel’s High Rate Conversion Program incorporates
the following:
- Banctel receives leads directly from the client’s
existing portfolio.
- Banctel makes primary voice contact
with the borrower to invite them to investigate lower
payment products. Specific improvement criteria (established
by our client), determines whether the borrower is indeed
eligible for consideration by the lender. This creates
a value-added perception of the lender for the borrower,
and facilitates the natural progression of the borrower
being willing to explore alternative products, and remaining
within our client’s
portfolio.
- Interested borrowers are transferred, and introduced
to a Mortgage Specialist within our client’s facility,
to take the next step.
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