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The Real End of the Rainbow: Too many originators fail to capture the pot of gold of past clients

Jornaya Head of Consumer Finance Mike Eshelman and VP of Home Captain Scott Payne contribute to Scotsman Guide in this article about recapture rates. Below is an excerpt. Access the full article here

To compete against other originators, and improve recapture rates, it has become necessary to take the steps needed to better understand the borrower’s behaviors and their needs. In order to improve the revenue realized from the lifetime value of clients, it’s vitally important for mortgage originators to be front and center throughout the process of selling and subsequently purchasing a home.

Mass mailers, marketing e-mails and informational news-letters have diminishing rates of returns, because of their generic nature and the sheer quantity of materials a potential borrower may receive. Instead, originators should form strategic partnerships with companies who specialize in the identification of these clients, remarketing to the borrowers and the oversight of home-selling and buying transactions.

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