HELOC Reset Notification
HELOCs originated between 2003-2007 are reaching their end of draw periods
HELOC Reset Notification
HELOCs originated between 2003-2007 are reaching their end of draw periods where loans will reset, recast or otherwise adjust over the next several years.
More than 3 million HELOCs representing nearly $160 billion are due to reset over the course of the next 4 years.
This will result in significant payment shock for many consumers, exposing the industry to billions of dollars of additional risk.
Origination
Learn about what we're doing
Learn how SCCG, in partnership with Tourmalet Advisors, works with financial institutions to launch bespoke targeted outreach initiatives that counsel at-risk consumers and minimize borrower distress.
Alerting HELOC Borrowers
SCCG, in partnership with Tourmalet, will launch a targeted, proactive outreach initiative in an effort to alert HELOC borrowers of their changing terms and to selectively modify, redirect or refinance existing loans in an effort to minimize borrower distress and to achieve one or more of the following organizational goals:
Our Proactive Reach
We proactivley reach customers, increase awareness, refresh data profiles, and improve the overall customer experience.
Tailor At-Risk, Scaleable Marketing Campaigns
Leverage the experience and marketing knowledge gathered from many years of studying consumer behavior, executing educational outreach programs and incentive programs and extensive mortgage industry knowledge, to derive noteworthy results:
Our Results
[bs_icon name=”glyphicon glyphicon-ok”] To date, we have consistently achieved 75% consumer contact rates
[bs_icon name=”glyphicon glyphicon-ok”] Greater than 50% conversion rates which are replicable and realistic for similar programs
[bs_icon name=”glyphicon glyphicon-ok”] Creation and design of bespoke program materials to achieve desired results and prepare for future outreach
[bs_icon name=”glyphicon glyphicon-ok”] Marketing materials (flyers, direct mailers, call-center protocol, call scripts, talking points, and packaging) are designed to be educational in nature and instructive throughout program execution
Consumer Outreach Architecture, Connectivity and Structural Design
How We Maximize Response Rates
We provide: From multi-tiered risk tranch analysis to triaged messages tailered to maximize response rates for specific consumer groups
Our Scope of Work
Program Outreach Timelines & Sequence for a Typical Campaign
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