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Intellidyn Helps Lenders Target New Expanded Loan Limit Prospects
By James Comtois
BOSTON-In order to help retail mortgage lenders immediately identify and market to homeowners who now qualify for refinance assistance resulting from the newly signed federal Economic Stimulus Bill, marketing analytics firm Intellidyn Corp. is offering new market sizing and predictive marketing models.
"First move advantage is everything in a limited time refinance market and the lender who reaches out first with a case-specific offer is most likely to convert those homeowner prospects to funded loans," said Peter Harvey, president and chief executive of Intellidyn.
Legislation included in the Economic Stimulus Bill allows the Federal Housing Administration and the government-sponsored enterprises of Fannie Mae and Freddie Mac to temporarily increase loan limits to serve more areas of the country, making refinancing opportunities for homeowners who would not have met the original GSE and FHA loan limit guidelines.
The bill raises the caps which have effectively prohibited the use of FHA and GSE loans in higher priced markets such as Massachusetts, California, Florida and New York to as high as $719,000.
"The true impact of the new Economic Stimulus Bill is that it will help the families that have been in dire need of financing: those that have been trapped in bad loans and may even be in danger of losing their homes," said Michael Isaacs, president of Residential Finance Corp. "By using Intellidyn's analytic expertise and targeted-marketing, RFC will be able to more accurately identify those borrowers in greatest need to give them immediate relief. We see this as a tremendous opportunity for homeowners to secure better financing, as well as to stimulate the housing market and the U.S. economy."
Mr. Harvey added, "With the potential to fund larger average loan amounts, the stakes are high, but it's only a matter of time before homeowners and new homebuyers will be getting carpet-bombed with competitive offers. But the lenders who can pinpoint and reach out quickly to these highly-motivated and highly-qualified homeowners with the right offers will be the clear winners, Intellidyn's new marketing models are ready and waiting to help these savvy marketers make contact with this fresh and motivated market."
Intellidyn's new GSE-FHA marketing models are now available.
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