Major credit bureau Equifax has introduced a lead generation tool for the mortgage space. Thanks to its Mortgage Lead Generation Models, Equifax can now help users predict the probability of a lead converting to a sale within the first two to six months. Equifax believes this will allow mortgage lenders to better target their mortgage marketing campaigns because lenders will have the ability to identify borrowers early in the home buying process and retain them.
Rather than relying on reactive methods to acquire and retain customers, Mortgage Lead Generation Models proactively identify and target prospects early in the mortgage journey through methods such as segmented customer marketing and the prioritization of quality leads.
Mortgage Lead Generation Models use information such as a prospective lead’s credit history, wealth assets and demographics to classify the lead as a likely new home purchase, first-time home purchase, refinance or HELOC. The system then rates the lead from 1 to 999, with leads who boast higher scores being more likely to turn into a sale. To read more about Mortgage Lead Generation Models, click here or here.”
Equifax is a global data, analytics, and technology company. It is one of the three largest consumer credit reporting agencies, along with Experian and TransUnion. Business clients include banks, credit unions and private lenders. These credit grantors use the information provided by Equifax to decide what sort of products or services to offer their customers, and on what terms.
Though the company operates primarily in the B2B sector, it offers the general public access to free Equifax credit report as well as the ability to place a freeze on your credit report and to alert lenders that you have been, or may become a victim of fraud or identity theft.