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MBL'ers - just an FYI regarding mortgage trigger data...I recently received a report of the three bureau daily opt-outs from the prescreened maketing file ( if you read mortgage offers stating you have been pre-approved, they are using live credit attributes and must give you the 888 4OPT-OUT number.
Long story short - Experian is losing over 40,000 consumers a day that are opting out...most of these are homeowners...if you market with prescreened data and telemarket, you know that the DNC coupled with this is making your addressable market very small, very fast.
Trigger data as the bureaus call it, flags a mortgage inquiry and makes it available for resale to mortgage marketers with permissable purpose. These lists are more expensive than traditional data but they tell you that there is blood in the water. This prospect filled out a 1003 with somebody regarding a mortgage in the last 24 hours. To effectively market to this group you MUST contact them within the next 24-48 hours. TU sells their triger data as a 7 day file - and it doesn't give the ROI/bang for the buck as the 24 hour hotline.
If you are using these to market to subprime borrowers - they need based borrowers usually stop shopping when their loan has been approved so time is of the essense. They want to know how quickly they can get their money and whoever can lead that horse to water fastests wins!
In the most recent copy of DM News, a financial services company noted that 90 days after the mortgage inquiry triggered - 19.6%, nearly 1 in 5 had obtained a new mortgage loan.
If you want any more detail about these types of leads, let me know. Mortgage data and mortgage marketing is my passion. I'll be glad to share any info I have.
Now let's make some money!!!!
The Bid Chief
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