Data Warehouse Creates New Opportunity for Mortgage Lenders
Leading mortgage information services provider offers database of five million homeowners nationwide who now qualify for lower-rate FHA loans.
BOCA RATON, FLORIDA - March 24, 2008 - Data Warehouse, a TRANZACT company and leading provider of marketing information solutions to the mortgage and financial industries, today announced that it has created a new and unique opportunity for mortgage lenders to increase funded loan volume. This opportunity comes on the heels of the Federal Housing Administration’s (FHA) decision to raise the mortgage limits nationwide, up to a maximum of $729,750 in high-cost counties.
The new limits help borrowers in high-priced housing areas with current high-rate jumbo mortgages to qualify for lower-rate loans. Data Warehouse has developed a database of more than five million homeowners nationwide who now qualify for lower-rate FHA loans.
“Homeowners previously with jumbo loans have emerged as the hottest prospects for refinance loans in today’s challenging lending environment,” said Ben Waldshan, founder of Data Warehouse and Executive Vice President with TRANZACT. “These homeowners had limited contact with lenders in the past due to a scarcity of lending options. The large loan size and attractive margins on government-backed loans now make this a highly profitable group for lenders to target.”
“The recent increase in funding limits equates to a tremendous opportunity for mortgage lenders, and Data Warehouse stands ready with FHA prospects we’ve identified to be qualified, motivated candidates,” continued Waldshan.
Data Warehouse multi-sources public records, demographic, and credit data combined with leading-edge automated valuation models and proprietary processes to create customized prospecting lists. As a result, lenders can help customers that are now able to seek refinancing into an FHA loan.
Data Warehouse is a wholly owned subsidiary of TRANZACT which was recently purchased for $185 million by Veronis Suhler Stevenson, a leading private equity firm in the media, information, marketing services and education industries. TRANZACT management has built a highly differentiated business model in the marketing solutions industry and is considered the pioneer in the emerging sector of outsourced customer acquisition solutions for Fortune 1000 brands.
Data Warehouse Corporation
Founded in 1997 and headquartered in Boca Raton, Florida, Data Warehouse has grown into the nation’s leading market information services company serving the mortgage and financial services industries. Data Warehouse licenses and aggregates public record and credit data on 72 million homeowners in the United States, selling targeted prospect lists and analytical services to a diverse group of mortgage brokers, bankers, and financial service companies nationwide. Data Warehouse has serviced more than 15,000 clients since its inception. Additional information about Data Warehouse can be found at http://www.dwcsolutions.com/.
TRANZACT
Based in Fort Lee, New Jersey, TRANZACT is the leader in providing end-to- end technology-driven customer acquisition solutions to the financial services and media and telecommunications sectors. TRANZACT leverages and integrates sophisticated digital, data, and direct marketing solutions to deliver qualified leads, fully provisioned sales, and robust customer management systems to brands seeking to acquire and manage large numbers of customers. Additional information about TRANZACT can be found at http://www.tranzact.net/.
Veronis Suhler Stevenson
Veronis Suhler Stevenson (VSS) is a private equity firm that invests buyout and structured capital funds in the media, information, marketing services and education industries in North America and Europe. VSS provides capital for buyouts, recapitalizations, growth financings, and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. To date, VSS equity and structured capital funds have invested in more than 59 platform companies which have, in turn, completed more than 245 add-on acquisitions resulting in a portfolio with realized and unrealized enterprise values in excess of $12 billion. Additional information about Veronis Suhler Stevenson can be found at http://www.vss.com.
http://www.dwcsolutions.com/
http://www.tranzact.net/
http://www.vss.com/
