Reverse Mortgage Features

Creating a Campaign

Initiate and log into LeadMiner. Click on the demographic or FICO based campaign of interest, then click on the Acquire New button as shown below.

main window


Then just give the new campaign a unique name.
Name Campaign

Helper Window

If you haven't already disabled it, the Creating a New Reverse Mortgage FICO Campaign helper window will pop up.

Close the helper window to go to the next step (selection attributes).

Selection Attributes

Selection Attributes are specific to the campaign and to the type of data. Dropdowns offer choice when selecting attributes and should be used to select the desired value from a list. We recommend using ranges for additional flexibility. Zip range is up to 99 miles.

ReverseDemoCampaign

Use the Find Zip Codes button to look up the desired city, state zip code online.
Use the Ctrl key to select multiple entries from a scrolling atribute section, or select a group of values by clicking on the beginning and ending values while holding down the Shift key.
Once the selection attributes have been entered, click the Create Campaign button.


Pay for your campaign in the usual way then return to the selection window and click the Continue button to see the results in the campaign's CRM as shown below.

MortgageCRM-new

Reverse mortgage campaigns contain special fields in the area boxed by the green line. These fields are set each time the mortgage library is applied. Their values cannot be altered directly from this area in the CRM.

For general instructions on how to use a CRM, check out the CRM chapter .

 

My Reverse Lender Library

The Reverse Mortgage library can be accessed from the Main Window or through the CRM button highlighted here.

LenderLIB-Select

LeadMiner has built in calculators for HECM, HomeKeeper, HECM 100 and a generic one for jumbo loans. Whenever a Loan Name starts with the letters "HECM" or "HomeKeeper" they are presumed to be of that type, so some fields may be unavailable and the calculations are very specific. The algorithms and tables are provided by Fannie Mae and HUD.

Additional programs may be included by special request.

small-rev-lib



To create a new loan package, click on the Add Row button. The fees and interest rates will be automatically populated by whatever data is in the row above. To remove a loan package from your library, simply delete its name and leave this field blank. Pressing the Save button commits any changes and closes this window.


Rev-add-row

 

Apply Reverse Lender Library

Once the Lender library has been created, you are ready to apply it to the CRM. To start this process, just click on the Apply button.

revSeletion

Loan Selection Apply feature gives you choices in offering reverse loan programs to prospects. Once the choices have been made, click on the Apply button which will populate the area of the CRM boxed by the green line.

Click on the button highlighted below for a helper window

rev-lead-h

rev-help-new

After application you can return to the CRM and edit or create your reverse mortgage templates.

Recalculate

When using the reverse mortgage campaigns the Recalculate button will recalculate the Total MortgageAmt and Total LoanAmt fields. This calculation is different from the loan assignment calculation as it only affects the loan assignment fields indirectly and only for the current record, unless the All checkbox is selected. However, if recalculate changes any of the Total fields, you may want to do the reapplication again also.

The following fields are used in the recalculation:

  • 1stMortgage
  • 2ndMortgage
  • Revolving Debt

recalc