Mortgage Direct Mail

Mortgage Direct Mail February 2010 Updates

2010-02-09T09:03:00.000-08:00

We have completed our February 2010 updates on all our mortgage direct mail databases. We update our mortgage mailing lists each month with updated information such as home values, loan date, lender name and more. All our mortgage mailing lists provide ideal mortgage holder information for mortgage direct mail offers.

Below are our mortgage direct mail database quantities after this month's updates:

FHA Mailing Lists - 2,385,197
VA Mailing Lists - 463,520
Reverse Mortgage Mailing Lists - 14,682,055
Conventional Mortgage Mailing Lists - 32,678,004

We use a variety of mortgage direct mail mailers including snap packs, letters, postcards, single window envelopes and double window envelopes.

Mortgage Direct Mail January Count Scenarios

2010-01-12T08:13:00.000-08:00

We had two different count scenarios requested this week from one of our mortgage direct mail clients. This client uses direct mail to target FHA mortgage holders and VA mortgage holders. He uses two completely different mortgage direct mail pieces for each mailing: Snap Packs for FHA and Single Window Envelopes for VA.

His FHA scenario was:

CA, FL, OH
01/01/07 to 12/31/08 Loan Date
1% to 80% LTV
$100K and Higher Loan Amount

This count yielded 8,043 records

His VA scenario was:

Nationwide
01/01/04 to 12/31/08 Loan Date
1% to 80% LTV
$100K and Higher Loan Amount

This count yielded 61,997 records

He will be using both mortgage mailing lists for his drop in the next two weeks.

Understanding Mortgage Direct Mail's Path in the Mail

2010-01-08T07:39:00.001-08:00

You’ve started the day with a sales rally and the pep talk of your life. All of your agents have come in for the start of an important new campaign. They have reviewed the direct mail piece your provider sent earlier in the week. They’re educated on the products. They’ve never been more ready to sell. Every thing and every person is in place.

And the phones are silent.

It’s a mortgage broker’s nightmare. You invest in direct mail marketing, and the responses don’t come in when you expect they will. Experience tells you that once the letters are mailed, you have no way of predicting when they’ll arrive in mailboxes, much less where they’re stuck at this moment. The success of your campaign is at the mercy of a system that appears to send mail through a time warp with variable results.

Lucky for you, there’s actually nothing so mysterious about the U.S. Postal Service. It works as a well-oiled machine that efficiently delivers billions of pieces of mail each year. The system tracks the location of each piece of mail from the time it is dropped by the sender until it lands in the local mail carrier’s hands on the way to its final destination. Working with a direct mail provider who understands these systems and puts them to work for you can help prepare you for the times the phones actually start ringing. And when you are prepared, you will have the ability to maximize your profits.

Method in the madness

The USPS works much like the hub and spoke system of major airlines. Business mail enters the stream at Bulk Mail Entry Units (BMEUs). It is then sent to one of 26 Bulk Mail Centers (BMCs), the equivalent of a hub for an airline, or directly to one of 450 Sectional Center Facilities (SCFs). Generally speaking, each SCF handles mail for which the first three digits of a zip code match. From the SCF, mail is sent to one of 115,000 local post offices, or DDUs (Destination Delivery Units).

As with airlines, you can pay more to have your mail travel “first class.” Though it will travel on the same planes, trains and automobiles as standard class mail, the first class designation means the mail will receive priority handling. If postal workers run out of time to sort all the mail that comes to them in one day, then it’s the standard mail that must go on standby for a delayed trip. Still, the USPS requires standard mail to be processed within a certain timeframe, so it won’t be stranded with an indefinite layover.

Built-in accountability

Two key reporting documents can help you track your direct mail marketing pieces. The USPS provides the 3602 postal receipt when mail is dropped by the sender at the BMEU. This stamped receipt, provided either in electronic or paper form, will show the total number of pieces that were accepted into the facility as part of your mailing, the date they were accepted, and the exact amount of the postage. The 3602 receipt is given to your direct mail provider at no cost, and it should be passed along to you without extra charge.

Many direct mail providers also create tracking reports that contain important information to help you maximize the return on investment in your direct mail campaign. Each piece of mail handled by the USPS is stamped with an intelligent bar code, which is scanned at each step in the delivery process, from initial drop off to the DDU. (Individual carriers scan mail only when delivery confirmation is requested.) Direct mail providers can access the information to locate direct mail pieces in the system and to predict when they will arrive at their destination.

Knowledge is power

The receipt and the tracking reports will help you in two primary ways: you can confirm that your direct mail provider printed and mailed the correct number of pieces and you can plan your mail drop so that delivery occurs at a convenient time for you.

By using First Class mail, you maintain greater control over when your direct mail marketing piece will be delivered. Standard mail is 10 cents cheaper, but it may sometimes be delayed by several days. You should choose the latter option only if you have the ability to take customer calls every day that mail is delivered.

A knowledgeable and experienced direct mail provider will have discovered clear trends in mail delivery speed based on the day mail is entered at the BMEU. He or she will help time your mail drop so that it arrives on days when your office is open and you can plan for sufficient staffing to handle the extra calls.

Experienced direct mail providers will also have gathered enough data from their mail tracking reports based on USPS daily postal scans to estimate varying delivery times in different states. If you know ahead of time that delivery is likely to come a day earlier in the Eastern time zone than in the Pacific, you can schedule extra morning phone center staff early in the week and more evening workers later in the week. With valuable tracking information and experienced professionals at your side, you will avoid dropped calls and increase your sales.

First Class All the Way

If you’re choosing first class for your mail, why not give yourself an upgrade with a knowledgeable and reputable direct mail provider? Many mortgage brokers choose a provider based solely on the final cost per piece, but it’s worth the extra time be certain you’re working with someone who services your account beyond the basics.

Before you undertake your next mailing, consider the added value of a direct mail provider who will:

• Time the mailing of your piece for maximum results;
• Consult with you on the staffing of your call center based on the expected delivery rate of your piece;
• Provide a stamped postal receipt to verify completion of the order; and
• Track the delivery rate of your mailing to help you meet the needs of your prospects, measure your success and plan for future direct mail marketing campaigns.

In many cases, the cost to receive these “extras” may be the same or only slightly higher than the competition. However, in the end you will gain a strategic partner with the potential to improve your results exponentially. And you can’t get more “first class” than that.

Mortgage Direct Mail Update for January 2010

2010-01-06T07:34:00.000-08:00

We have completed our nationwide mortgage direct mail database update for January 2010. After our January update, we have 60,955,782 mortgage holders ready to receive your mortgage direct mail offers.

Our mortgage direct mail database contains key information such as lender name, loan date, loan type, loan amount, interest rate type, ltv, home value, age, and more.

Mortgage Direct Mail Lists Monthly Update 10/26/09

2009-10-26T07:22:00.001-07:00

We just completed our monthly update of our Mortgage Mailing Lists. After our 10/26/09 update, we have 60,509,954 nationwide mortgage holders. Our mortgage mailing lists can be sorted and selected by loan date, loan amount, rate type, loan type, lender name, home value, ltv and more.

Our mortgage mailing lists contain information used for fha direct mail, va direct mail, reverse mortgage direct mail, conventional mortgage refinance direct mail and loan modification direct mail.

For more information on our mortgage mailing lists visit http://www.influencedirect.com/mortgage-mailing-lists.

For more information on our mortgage direct mail programs visit http://www.influencedirect.com/mortgage-direct-mail.

For more information on Influence Direct's direct mail printing and mailing programs visit http://www.influencedirect.com/direct-mail

Mortgage Direct Mail Opportunity by Targeting Reverse Mortgage Prospects

2009-10-21T16:05:00.000-07:00

We wanted to take a peek into 2010 and see how many households in the United States will be age-eligible for a reverse mortgage. We first started with our nationwide reverse mortgage database which contains age information using month, day and year of birth. We then looked at any household with no individuals over age 62 or older. These are households who are currently not age-eligible for a reverse mortgage. We then looked to see if either the head of household or the spouse turns age 62 at any point in 2010. Based on that research, here are the age-eligible household counts who should receive a reverse mortgage direct mail offer in 2010:

January - 6,106
February - 5,848
March - 6,074
April - 5,636
May - 5,513 J
June - 5,371
July - 5,915
August - 6,153
September- 5,657
October - 5,625
November - 5,147
December - 5,343

If you use direct mail to generate reverse mortgage prospects then this a must list for you to target in 2010. To maximize your success, start mailing the list 2 months in advance of their birthday month so you can be the first to offer a reverse mortgage. For more information on Influence Direct's mortgage direct mail programs, visit http://www.influencedirect.com/mortgage-direct-mail

Mortgage Direct Mail Campaign for October

2009-10-16T08:25:00.001-07:00

One of our current clients will be expanding their states in a few weeks and wanted to get an early start on counts. Over the past 5 months, we have provided a complete turnkey solution that has yielded phenomenal results. Every few weeks we tweak the criteria, but for the most part, this is what has been used.

First Loan Amount: 200,000+
First Loan Date: 1/90 - 10/08
First Loan Type: FHA
Reverse Mortgage Lenders: Exclude

AZ - 8,883
CA - 35,606
CO - 14,177
DC - 1,295
DE - 1,393
FL - 17,859
GA - 3,807
ID - 1,266
IL - 13,316
IN - 1,207
MD - 10,804
MN - 2,986
MO - 1,996
NC - 3,672
NJ - 19,579
NV - 6,562
NY - 8,373
OH - 4,444
OR - 4,982
PA - 6,158
SC - 1,591
TN - 2,770
TX - 3,627
UT - 4,163
VA - 11,909
WA - 10,942
WI - 1,005

If you are looking for more information on mortgage mailing lists or mortgage direct mail campaigns, give us a call to see how we can provide you a better solution!

HUD makes changes to FHA Streamline Refinance Loan Program

2009-10-06T07:41:00.001-07:00

FHA streamlined loans emerged onto the mortgage scene in the early 1980's. Since then, thousands of FHA home owners have utilized this program to lower their interest rate with fewer costs and relative ease.

A FHA streamlined refinance loan refers only to the amount of documentation and underwriting that is conducted on a loan file by the mortgage company. Mortgage companies may offer streamlines "no cost" (actually no out-of-pocket expenses to the borrower) by charging a higher interest rate on the new loan. Other companies may offer a streamline refinance that wrap the costs into the new mortgage amount. Unfortunately, there must be sufficient equity in the property. Before deciding which option best fits your needs, it is important to weigh not only the costs but also the long term impact that a higher rate or a higher mortgage payment will have.

FHA streamline refinance loans with or without an appraisal, do not require full credit underwriting. As of September 18th, HUD and Lenders have adopted some provisions regarding prior mortgage late payments. New individuals may be added to title on a streamline refinance without credit review. Deleting individuals from title on a streamline refinance may require qualification (certain exceptions may apply).

The following are basic requirements of an FHA streamlined refinance:

Borrowers who refinance their delinquent non-FHA ARM loan into FHA Secure and subsequently wish to refinance to another FHA-insured mortgage must use a refinance product that requires full qualifying, e.g., a rate and term refinance. Once the FHA-to-FHA full qualifying refinance is insured, these borrowers will be able to take advantage of FHA’s Streamline Refinance program.

The mortgage to be refinanced must already be FHA insured and the borrower must have made at least 6 payments on the current FHA Loan.
The mortgage to be refinanced (if less than 12 months old) the borrower must have made all mortgage payments in the month due (no delinquent payment of 30 days)
The mortgage to be refinanced (if greater than 12 months old) not have more than 1x30 days late in the last 12 months AND made all payments within 3 months of the application within the month due (i.e. no 30 day late's in the last 3 months)
The refinance must lower the TOTAL mortgage payment of the previous mortgage by 5% if going from Fixed rate to a Fixed rate. Special conditions apply when going from ARM to Fixed, Fixed to ARM or reducing the Loan Term.
The borrower may not receive cash from loan proceeds in excess of $500.
Any Assets need to close must be Verified.
The Lender must certify to HUD that the borrower is employed and has income at the time of the application.
Any subordinate financing may remain in place as long as it is subordinated on title and does not exceed 125% Combined Loan to Value (CLTV). For Streamlines w/out an appraisal the value is based on the original appraised value from the prior Fully Underwritten FHA loan.
The term of the new mortgage must be the lesser of 30 years or the unexpired term of the mortgage plus 12 years. A borrower cannot refinance from a 15 year loan to a 30 year loan.
An appraisal is not required unless the closing costs are wrapped into the loan. Streamline refinances without an appraisal are limited to the unpaid principal balance, minus any refund credit of the mortgage insurance premium (MIP), plus the new upfront MIP if it is to be financed in the mortgage.
No termite report is required.
The borrower cannot be late, delinquent, or in default of any federal debt.

Source Article: http://www.fhainfo.com/streamlinerefinancing.htm

Are Your Mortgage Direct Mail Letters Getting Delivered?

2009-10-05T19:14:00.001-07:00

A few weeks ago, some of our weekly mail clients had questions on about their mail being delayed. This was a shock to us considering nothing at all changed in the process of printing/generating postage/dropping off at the bulk mail center/etc. After providing the USPS 3600 and 3602 postage statements, the only conclusion that came to mind was that the mail was possibly delayed. This wasn’t a good enough “guess” for us here at Influence Direct. We never want to call a client and say “I guess your mail is delayed” and not know for sure if it actually is. Because of this, we decided to implement Intelligent Mail Barcode Tracking to resolve this issue. Every campaign that we produce now will have daily reports showing exactly where the mail is in the mail stream.

WHAT IS MAIL DELIVERY TRACKING?

I am glad you asked! For years, mail tracking has provided an important service to efficiency-minded mailers. Now barcode tracking is the door to even greater delivery-monitoring functionality.
Our software collects step-by-step delivery information from First-Class™, Standard Mail® or Periodical mailings and maintains that data on a secure Web interface. Closely monitoring the progress of your mailings will help you gauge delivery effectiveness and predict future performance.

FEATURES AND BENEFITS

Uses USPS Intelligent Mail barcode: end-to-end tracking of a job's path through the mail stream
Allows unique identification of every piece in a mailing job, to provide delivery details with any desired level of specificity
Compatible with First-Class, Standard Mail and Periodical mailings
Delivery report data archived online for easy, password-protected access; reports may also be downloaded into an array of convenient file formats