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Data Warehouse Staves Runoff by Finding Prospects before They Refi.

Mortgage Servicing News

| March 01, 2003 | COPYRIGHT 2003 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The downside of the refi boom has been that servicers don't have borrowers in their portfolio long enough to warm up a spot in their database before another lender snatches them away. But Data Warehouse Corp. here has developed a system it says can help servicers keep borrowers in their portfolio by thwarting the competition.

DWC offers lenders a turnkey lead generation and loan acquisition service, handling everything from list selection to direct marketing, feeding the lead directly into the lender's system only after it has passed successfully through its automated underwriting system. The system is built around the concept of a prospect database and DWC calls it CAM, for Customer Acquisition Management.

To build this prospect database, DWC uses two primary sources of information. The first is the servicers portfolio, which is then overlaid with credit bureau data.

When an inquiry shows up an existing customer's credit file, the CAM system checks to see if it is coming from a competing mortgage lender. If so, DWC, working on behalf of the servicer, goes into action.

When a customer from a lender/servicer's portfolio ...

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