Mortech, a Zillow Group business providing mortgage technology solutions for mortgage bankers and secondary market teams, has launched Mortech Protection, a customer retention solution that monitors and identifies addresses within a lender’s database that are at risk of attrition because the homes are currently listed for sale or are likely to be listed within the next 90 days.
Using Mortech’s proprietary predictive model, Mortech Protection will periodically provide a lender with rating scores for addresses within the lender’s database describing the likelihood that homes will be listed for sale within the next 90 days.
Mortech Protection will also periodically notify lenders of addresses within their database associated with homes that are currently listed for sale. Lenders can use the Mortech Protection analytics to better target their marketing and outreach to current customers who intend to move and may need new mortgage financing.
“As the refinance market fades and lenders are faced with a competitive purchase environment, financial institutions will be challenged to build relationships with their most profitable customers in order to recapture business and create customers for life,” says Doug Foral, general manager at Mortech, in a release. “Effectively reaching customers over a long period of time, and especially at the right time, can be both difficult and expensive without insightful targeting analytics.
“By using predictive modeling to identify current customers that are likely to sell their home, lenders using Mortech Protection may have the advantage of proactively reaching out to targeted contacts at the opportune time with relevant messaging to reduce the risk of losing out on repeat business,” Foral adds.
