Hard money is the feeling the pinch too
Positioning for customer-centric strategies
Bill Rice
February 21, 2023
Is the mortgage crunch becoming a crisis?
Private lenders (sometimes referred to as hard money lenders) are now starting to pull back. CIVIC Financial announces layoffs and suspends loan originations.
PacWest Bancorp is no stranger to opportunistically taking advantage of mortgage downturns, snapping up a few distressed banks during the 2008 financial crisis.
What do you think? Is the rate-induced mortgage contagion spreading?
Photo by UX Indonesia on Unsplash
Digital identity might be the answer to better customer experience and lead generation
Typically, we’ve associated security and identity verification with friction in lead generation, but could it become so easy and ubiquitous that it becomes a competitive advantage to marketing campaigns?
This discussion starts with fraud (a sizeable issue in marketing campaigns) and extends to how digital identity might become a competitive differentiator. I could see companies like Verisk (Journaya) and Transunion extending marketing-focused digital identity products into the market.
Customer-centric sales and marketing strategies will be the winners as consumers load up on debt
Caution is in the air, but consumers aren’t heading the signals.
Savings rates are declining, and debt levels are rising. This is going to end with a lot of consumers looking for debt relief.
Now is the time to start intelligently segmenting your customer database. Here are some things to start looking for:
Equity
Rate
Credit
Debt
Even if you’re not a servicer, using portfolio retention strategies to proactively spot new origination opportunities will be a winning strategy.