Equifax Inc., a global information solutions company, has announced the availability of Prescreen Direct with Property.
The service helps improve the accuracy of targeted marketing campaigns for lenders and enables them to better match and offer mortgage and home equity products to consumers who are most likely to make a purchase, the company explains.
According to Equifax, more than 63% of consumer finance loans today are high risk, so accurately targeting prospective borrowers and making appropriate offers is more critical than ever.
Additionally, rising interest rates have caused mortgage refinance rates to drop, and as a result, lenders are looking for more effective ways to generate new revenues in order to help overcome lost margins from the shrinking refinance market. By leveraging comprehensive property and consumer credit data, Prescreen Direct provides lenders with valuable insight that enables them to seek out and secure new business, says Equifax.
