East Coast Bank Mortgage Response Enhancement Case Study

This case study outlines the strategies employed by a mid-size East Coast regional bank to enhance mortgage response rates through the use of pre-mover triggers. Faced with a challenging mortgage refinance market due to rising interest rates, the bank sought innovative methods to generate mortgage leads, particularly focusing on purchase opportunities within their branch footprint. Deluxe, a partner of the bank, implemented a pre-mover trigger program that categorized potential clients into three groups: homeowners listing their properties, homeowners with active contracts, and renters planning to relocate. The campaign was initially piloted for six months but was extended for a full year due to its success, achieving an 8 basis point funded mortgage response rate while maintaining a cost per funded mortgage below $1,900. The program's structure included weekly communications to a targeted list of prospects, ensuring that only qualified leads were pursued, thus demonstrating a significant improvement in the bank's mortgage marketing efforts.