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Appraisal Institute calls for revisions to Fannie/Freddie Home Valuation Code of Conduct

National Mortgage Professional
Apr 30, 2008

Zoot white paper provides industry insight to instant prescreen capabilitiesMortgagePress.cominstant prescreen, acceptance rates, Prescreen-of-One Offers strategy to acquire and retain qualified customers in a challenging market Zoot, a provider of credit decisioning and loan origination solutions, announced the release of a white paper titled, "Operational Excellence: The Prescreen Revolution." Analyst firm TowerGroup predicts that, in response to market changes, lenders in 2008 will need to reform every aspect of their credit operations, including the adoption of more innovative business strategies. Zoot's white paper introduces new approaches for selling more credit products in today's volatile market. The white paper offers insight into instant prescreen as a viable strategy for increasing acceptance rates of credit products. Most traditional acquisition strategies, such as direct mail prescreen, require large financial investments and are increasingly ineffective and inefficient. A solution that capitalizes on an institution's existing customer base is necessary, and having the technology to support this is critical to the success of the institution in 2008 and beyond. "Zoot's instant prescreen solution, Prescreen-of-One, has allowed financial institutions to consistently achieve acceptance rates around 20 percent, which is 40 times higher or nearly a 4,000 percent increase in the typical response rates for direct mail in any industry. The cost of implementing instant prescreen is more than offset by the additional revenue that it drives, making the [return on investment] tangible within months," stated Tom Johnson, vice president of product development at Zoot. For more information, visit www.zootweb.com.
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