When a mortgage borrower comes up for renewal, lenders don't leave that renewal to chance. More than ever, it's a chess match with lenders using cutting-edge tech to determine:
(A) How hard it'll be to retain that customer, and
(B) How sweet their offer should be.
That brings us to Equifax, Canada's biggest credit bureau. It recently rolled out a new product called Mortgage Attrition Predictor™. Its purpose is simple: help lenders keep borrowers from bolting to competitors.
We're about to break down how it works and explain why every lender and independent mortgage originator needs to consider similar tactics.
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