SAN FRANCISCO, CA – TransUnion Settlement Solutions today announced at the Mortgage Bankers Association’s 91st Annual Convention and Expo the addition of Collateral Market Value (CMV) to its account acquisition solutions. CMV is TransUnion’s proprietary automated valuation model (AVM) that uses a statistical analysis to obtain property valuation data. Residential mortgage lenders will now be able to better target customers who are most likely to use their products or services by leveraging AVM data with individual credit information.
Customer acquisition solutions that now have the added feature of Collateral Market Value include:
- Prescreens – enables real estate professionals to target prospects for direct mail solicitations that closely resemble key customers from a risk and marketing perspective. Marketing lists are processed in batch mode, meaning mortgage lenders receive one file that contains many pre-approved prospects.
- Triggers – monitors a population for credit and equity changes relevant to the lender’s business and returns new records daily to help in targeting the ideal prospect at the right time. The customizable and fully automated solution allows the lender to receive individual prospect data for precise marketing to certain individuals.
- Analytical Reports – helps marketers target current customers with new offerings by analyzing key credit characteristics and home equity levels.
“By leveraging our analytic strength, we are able to deliver solutions that improve our customers’ direct marketing conversion rates,” said Bill Sullivan, senior vice president of Sales and Marketing for TransUnion Settlement Solutions. “Appending data from an AVM to an account acquisition solution will help mortgage lenders surgically cut unqualified applicants before a mailing is sent; thereby reducing associated costs and increasing the efficiency of marketing campaigns.”
According to real estate industry experts, the two major shortcomings of direct mail solicitations have been obtaining lists that contain prospects who are a substandard credit risk and/or possess little or no equity in their home. By considering both credit and valuation data, TransUnion’s enhanced account acquisition solutions address these issues.
In addition to potential cost savings and efficiencies in marketing programs, lending institutions can further leverage the combined solutions to accurately target new or revitalized geographic areas for potential branch locations with high concentrations of consumers with characteristics that define their customer base. “This is just the tip of the ice berg,” said Sullivan. “The combination of these two powerful tools represents a great marketing potential on many fronts for our customers.”
About TransUnion
TransUnion is a leading global information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion offers a broad range of financial products and services that enable customers to manage risk and capitalize on market opportunities. The company uses leading-edge technology coupled with extensive analytical capabilities to combat fraud and facilitate credit transactions between businesses and consumers across multiple markets. Founded in 1968, Chicago-based TransUnion employs 4,100 associates that support clients in 29 countries. Visit us at www.transunion.com.
TransUnion delivers its real estate settlement services through its subsidiary, TransUnion Settlement Solutions, a premier provider of best-in-class information and process management solutions to the residential lending industry. For more information about TransUnion Settlement Solutions, visit www.transunionssi.com or call 1-888-299-8787.
