Equifax Launches Lead Generation Tool for Mortgage Lenders

Equifax has launched a lead generation tool for mortgage lenders that it says will help users predict the likelihood that a lead will turn into a sale within the next two to six months. The product, called the Mortgage Lead Generation Models, uses data on a prospect’s credit, wealth and assets, property and demographics, applying the info to different models based on the individual's profile as either a likely first-time homebuyer, a new purchase buyer, a refinancer or a HELOC candidate. The models create a score from 1 to 999 for each name and address the lender provides based on the lender’s specific requirements. The higher the score, the more likely the consumer is to apply for a mortgage.