| By Jim Bruene on May 2, 1998 2:36 PM | Comments (0) |
| Description | Comments | Companies |
| account access | Mortgage loan and escrow account | |
| advice/reference centers | Homeowner, home maintenance, home buying advice | |
| application, interactive | Build a dynamic loan application that changes as users answer questions | |
| application, subdivided | Long loan applications need to be divided into bite-size chunks | NextCard GMAC |
| approval, instant | Instant loan approval won’t be the norm for another 18 to 24 months, so you have a window of opportunity to pick up incremental business | AnyTime Access Bank of Montreal Bank of Montreal American Finance Beneficial Finance BayShore Trust NextCard |
| balance transfer form | Transfer credit balances to an integrated home equity line of credit | NextCard |
| banner advertising | Search engines are the place to be | |
| bill payment/presentment, mortgage and others | Countrywide demonstrates how NOT to do it (Apr 98); see Oct 97 for a better way | Countrywide |
| build your own loan | Let users select as many loan parameters as possible | |
| bundled home equity line | ||
| calculators | SmartCalc FinanCenter, Sovereign Bank | |
| credit report services | Credit report access and automated reporting services | ConsumerInfo.com, Quicken Online Credit Network QSpace MyCreditFile, Cendant, & CreditComm Republic Bank/Equifax Experian |
| custom Web views | Users are presented with a Web site that closely matches their needs, e.g., refi shoppers vs. first-time buyers | Bank of Montreal
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| discounts - application fee | Waiver/discount of application fee | Bank of America Intuit |
| - free home appraisal - points | Norwest Countrywide | |
| document access and storage | Web-based loan docs with indefinite storage | |
| email homeowner reminders | Reminders for home maintenance tasks, tax deadlines, PMI cancellation, etc. | |
| email lead follow-ups | Don’t let the leads get away when email is free and easy | Countrywide |
| email loan status reports | Daily status reports for loans in process; monthly for closed loans |
| Description | Comments | Companies |
| email rate updates/alerts | Rate triggered, time to refi, etc. | Bank Rate Monitor, Canada Trust, Countrywide, E-Loan, Home Shark, Loan World, & Security Federal Bank One Mortgage Watch HomeOwners Finance Center |
| email to a friend | Simple way for users to notify friends about your loan products/offers | Ziff-Davis |
| email payment reminders | Payment-due reminders and confirmations | |
| guided Web links | High-quality links to homes-for-sale listings, Realtors, relocation services, etc. | |
| home-for-sale listings | Long Island Savings Salem Five | |
| home value reports | BankAmerica/DataQuick BankAmerica (test) Experian (test) | |
| improving user confidence | E-Loan | |
| insurance checkup | ||
| interactive loan application | (see Applications) | |
| kiosks in real estate offices | ||
| lead generation | GetSmart Salem Five QuickenMortgage | |
| loan analysis/recommendation forms/worksheets | ||
| loan officer bios | Charter Bank Northwest Federal Credit Union | |
| loan principal pay-down form | Web and email based | |
| loan status reports | (see Email) | |
| lowest-rate guarantee | American Finance | |
| preauthorized debit sign-up form | Web-based signup and maintenance gives user more control | Countrywide |
| prequalification services | Instant prequalifications for home shoppers | E-Loan maze.com |
| rate-lock button | E-Loan | |
| Realtor services | E-Loan Countrywide | |
| refinance services | HomeOwners Finance Center | |
| reference info/library | Build a homebuyer’s emporium with info and discounts on building products/services | Stanford Federal Credit Union |
| relocation/movers services | Salem Five SmartCalc | |
| search engine exposure | The first tactic in any loan marketing plan | |
| service guarantees | Related to online services | |
| skip-pay application | Users request payment skips online | |
| sweepstakes | Quicken.com | |
| Web-branded loan sites | Instead of sending users to yourbank.com/mortgage, create a more catchy Web brand such as yourmortgage.com | The State Savings Bank/ CarFinance.com |
| Web site sponsorships | ||
| worksheets/profiling | Countrywide’s self-selection worksheet is a promising mortgage sales technique | Salem Five Countrywide |
| VIP virtual lounge | Web-based services for your best customers | |
| virtual personal banker/loan officer/concierge | Personalize the process with real human point of contact | Countrywide |
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