According to Black Knight, homeowners who fit the above criteria could end up saving about $300 a month by refinancing to a lower rate.

Consequently, mortgage companies need to reach out to these Homeowners. They are the prime refinance candidates. Remember, if they don’t hear from you first, they are likely to click on the top mortgage company they see online in Google search.

Other trends

Cash-out Refinances

Mortgage brokers need to take advantage of cash out refinances. This will continue be an important market segment for lenders.

Cash-out refinances are surging in popularity. Remember, there is a record $10 trillion in accessible equity available to homeowners. This has been fueled by rising home prices combined with lower mortgage rates and the need for ready cash. A cash-out refinancing enables homeowners to trade the equity in their homes for a lump sum of cash. In this case, homeowners pay off their old mortgage with a new one, and keep the extra cash that’s left over. In 2021, that averaged about $50,000 per transaction.

Low Down Payments

The low down payment mortgage has become the standard entry to home ownership in the U.S.

More than 1.3 million homeowners put less than 20 percent down on their mortgage in last year. This is according to a report by the U.S. Mortgage Insurers (USMI) association. The number of low down payment mortgages backed by private mortgage insurance (PMI) increased by 22.9 percent in the same period. PMI is generally required on mortgages with less than 20 percent down.

In fact, 58 percent of agency mortgages had some type of mortgage insurance, according to the Urban Institute. The majority of those home loans were insured by PMI (41 percent). The next highest groups were FHA (36 percent) and VA (23 percent). Mortgages with PMI have been on the rise since 2016. That’s when homeowners put less down.

Is the Boom in Real Estate Sales Over?

Inventory is low.  Yes, there is still new construction available and homes are still for sale in many areas. But home prices have gone up astronomically. many prospective home buyers can’t find a home to buy. What we are seeing is that many people who have been waiting for inventory are staying in place. They are shifting to cash-outs and renovation loans.

How’s Your Visibility?

Homeowners eager to refinance and save are grabbing at record-low mortgage rates. But, are they applying with you?

You need to get your messages out now.  In other words, you have no time to delay getting your letters ready to mail. In addition, you want to plan a companion digital display to make your message more visible / more important. And, don’t discount telemarketing. If you have a good script, it still generates leads!

Above all, you want to be first in the door with your programs.

Top List Picks for September, 2022

  • Cash-out Refinance Prospects – Reach homeowners who are looking to pay off their old mortgage and keep some extra cash at the same time. Very popular with consumers looking for some ready cash.
  • Reverse Mortgage Prospects – We are seeing a big increase in reverse mortgage loan origination activities. There are more than 10,000 Americans reaching age 62 each day. Many senior homeowners are looking for a way to fund their retirements. Mortgage brokers can target qualifying seniors who are looking to leverage the value in their homes so they can age in place.
  • First Time Home Buyers – We overlay many elements on our Renters data to qualify this group. We use age, income, marital status, length of residence, ethnicity, modeled credit and geography.  Consequently, the First Time Home Buyer overlay really enhances the basic renter data. Millennials are also aging up. The key is marketing credit down payment assistance and credit opportunities.
  • Renovation Loan Prospects – People are staying in their homes longer and taking out loans to renovate and remodel their homes. Therefore, many homeowners are making upgrades to their homes to age in place.
  • Invitation To Apply Lists – These mortgage lead lists are for those mortgage companies looking for an alternative or supplement to prescreen data. Select by modeled credit score, household demographics, and property criteria. Click HERE to read about the different between ITA lists and prescreen lists.
  • Refinance Prospects –  According to Black Knight,  there are still 9 million mortgage holders who are good refinance candidates. They estimate these homeowners could save $3.1 billion a month by refinancing their home loans. They may still want to refinance.

Target Unique Market Segments with our Mortgage Lead Lists

Latinos – Latinos were the only demographic group that increased its rate of home ownership for three consecutive years. This is according to the National Association of Latino Real Estate Professionals. For example, Latino Home ownership actually accounts for nearly 75% of the net increase in US Home Ownership. For that reason, the Hispanic segment is a key market group that must not be overlooked. Marketers can easily request Hispanic surnames on their mortgage prospect lists.

Millennials – the largest wave of New Home Buyers, representing 33% of last year’s home buyers.  Millennials are now reaching peak home buying age. This means that you need to reassess your marketing strategies to accommodate the preferences of Millennials.  The First Time Home Buyer list is still the top list for new originations. Want to learn more? Read DataDale’s recent article about Marketing Mortgage Products to Millennials.

In conclusion, with a little creativity, Mortgage Marketers can prosper in today’s economy.

Focus your marketing on what would trigger the need for a mortgage

We offer mortgage lead lists for:

 

Select from these high response mortgage lead lists and mortgage marketing list databases:

Have you Read the Mortgage Marketing Blog?


**Read Data Dale’s Blogs for the Mortgage Industry

Looking for a Mortgage Refinance Cold Calling Script – April 2021

Refinance Eligible Homeowners Give Mortgage Brokers an Edge – February 2021

Mortgage Professionals Need to Market – June 2020

Marketing Mortgage Products to Millennials – May, 2019

Millennials are the Largest Wave of New Home Buyers – April, 2019

Understanding the Difference Between Prescreen Credit Lists & Invitation to Apply – August, 2018

April is New Homes Month & Millennials are Leading the Charge – April, 2018

Mortgage Marketing Outlook – 1st Quarter of 2018 – January 2018

Will the Gig Economy Change Mortgage Lending? – August, 2017

Can a Reverse Mortgage Help Retirees with their “Fundedness” – June, 2017

Mortgage Pros – Take notice – Millennials are Buying Homes – May, 2017

Is 2016 the Year for Reverse Mortgages? – published Jan 2016

DataDale’s Mortgage Outlook for 2nd Half of 2016 – published 8/3/ 2016

New Hybrid Marketing Methods for Mortgage Professionals – published 1/15/2015

2015 Marks the Return of First Time Home Buyers to the Marketplace – published 1/2/2015

New Home Purchase Leads for Mortgage Brokers & Loan Officers – published 4/1/14

Mortgage Direct Mail – Can It Rebound? – published 8/14/14

Mortgage Mailers – Are You Barking Up The Wrong Tree? – published 9/26/13

How Mortgage Mailers are Generating New Leads with Direct Mail – published 1/16/2014

 

Telephone Numbers and Email Addresses

Telephone numbers are available on most mortgage lead lists. We offer both landline and cellphone data. At Dataman Group, we believe in responsible telemarketing. Therefore, if you want mortgage telemarketing leads in your market, our data is flushed against Federal and State Do Not Call Lists. Federal SAN required for all telemarketing lists.

Email addresses can be appended to your lists. Estimate we will locate email addresses about 25% of the list.