One of the database marketing products available to MonitorBase users is Predictive Marketing alerts. Our system monitors hundreds of data points on an individual and identifies opportunities in your prospect database where a mortgage transaction is likely to occur. Each Predictive Marketing alert is delivered with an Alert Intel to give you insight into each opportunity to reconnect with your prospect. Check out our full list of Predictive Marketing Alert Intels here.
Alert Intel Code: MBai30
Summary: Prospect has a high estimated FHA rate and MI. The score is in a tier that may allow them to refinance to a conforming loan and drop mortgage insurance.
Detail: FHA to conforming refinance - This takes into account the estimated FHA rate and MI compared to today's interest rates. We also include estimated LTV and current score. Many FHA loans are closed on a home purchase with the plan to refinance in the future when credit or equity improves. You could review the customers file and see if they are interested in a rate and term refinance to a conforming loan with no MI and possibly a lower interest rate at the same time.