GRAND RAPIDS, Mich. (5/31/12)--Two Michigan credit union service organizations (CUSOs)--Xtend Inc., based in Grand Rapids, and Ada-based Member Advantage Mortgage (MAM)--have partnered to help credit unions pursue mortgage opportunities based on the expanded Home Affordability Refinancing Program (HARP2) initiative.
The campaign provides a turnkey solution for credit unions that leverages Xtend's contact center (Xtension) to drive member awareness and MAM's loan officers to handle the underwriting process.
HARP2 is an expanded government initiative to help borrowers refinance Fannie Mae or Freddie Mac-owned mortgages.
"Over the past couple years, we have executed projects for MAM and several of their credit union clients to help build the mortgage application pipeline," said Scott Collins, Xtend president. "When Tom Davis (MAM CEO) approached us about this latest project, I think we were both confident that it would generate some solid activity, but on this first pass we experienced a lead rate of 40%."
Lead ratios for outbound call campaigns have increased over the past year, Collins said. "I think it is a combination of multiple factors," he explained. "First, our agent team is getting better at their craft. Second, credit unions, and especially their boards, are warming up to the idea that topical and timely calls can generate big results. And finally, members are responding positively to hearing more from their credit unions."
Xtend provides operational, marketing, technical planning and consulting services for credit unions of all sizes. Member Advantage Mortgage is a mortgage servicing CUSO.