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LVG Launches New Marketing and Client Retention Program

NationalMortgageProfessional.com
Jul 22, 2013

With mortgage rates drifting higher, coupled with reduced margins in an increasingly competitive origination environment, Loan Value Group LLC has launched a suite of retention and marketing programs that offer lenders and servicers a proactive approach to achieve greater market share and increased volume while creating consumer loyalty and lowering the overall cost of origination and servicing. Under these new Retention Strategies, LVG will work with lenders and servicers to create an education and outreach campaign specifically designed to target loan retention, consumer loyalty, and, where applicable, affiliate marketing. The programs require little to no additional operational or technology integration and minimal internal resource requirements. Past LVG programs boast 78-92 percent contact & conversion rates, greater pull-through, and reduced origination timelines. More than 325,000 borrowers have been a part of LVG outreach, loyalty and incentive programs since 2010. “The recent slow-down in re-financing activity will again force the industry to focus heavily on margins,” said Frank Pallotta, managing partner of Loan Value Group. “LVG’s Retention Strategies will allow financial institutions to quickly and proactively establish a two-way, 24/7 connection with consumers that can last over the life of the loan and dramatically improve retention and loan performance at a reduced cost.” He added, “Simply offering a series of rate and fee options to consumers is barely half the battle. Being able to market those benefits effectively is often the difference between losing a customer and establishing a long-term financial relationship.” Using LVG’s operating platform, marketing insight and loyalty programs, financial institutions will have for the first time, the ability to create and maintain a relationship with the consumer at the institutional level. Moreover, this new relationship will permit the financial institution to sell the servicing asset in the future, if they chose, “without necessarily selling the relationship,” he added.
Published
Jul 22, 2013
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