Lead Management and Fair Lending

Could your current lead management techniques be putting you into Fair Lending (Fair Housing Act) harms way or promotes Redlining?

Are you are feeding list of leads and leaving it to the loan officer to pick and chose who they call? Even worse do you allow them to preview and select leads based on demographic and economic factors like age, gender, or neighborhood? These types of lead management techniques could set you up for a very painful ding from a State or Federal Regulator.

Make sure as you craft your lead management best practices and methodologies that it creates a bullet proof lead distribution process that ignores all factors such as: race, color, religion, national origin, sex, handicap, or familial status.

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2 responses to “Lead Management and Fair Lending

  1. Our CRM distributes evenly to an inhouse call cener staff that fronts the leads. Callers are screened then transfered live “Hot” to our LO’s in a queue rotation basis. Sources of suppliers is invisible as a code is utilized for each supplier and changed regularly so that suppliers are not ID’d, nor cherry picked. This is the best model in my opionion for running an internet lead shop. Thoughts?

  2. Noel, you hit on two important concepts that should be in all lead management methodologies (IMHO).

    The concept of a “contact team” as we at Kaleidico call it, or telemarketing, inside sales, call center, etc. that has a primary responsibility to make contact, build reputation, qualify, and transfer. We are big proponents of this technique and see big jumps in contact rates when it is implemented.

    Therefore, the first concept it the ability to “hot” transfer to individual LOs, Teams, Channels (what you call you in queue LOs), even other organizations (in case you outsource any facet of this transfer process), or external systems (in the case of LOS, client loyalty database, dialers, or other systems you may use pre, during, or post-sale). Probably about 80% Of our clients use this functionality and set-up.

    Second, is to your point of having the ability to mask certain lead data. icoSales has the ability to toggle on and off lead sources as well as other lead data that lead managers or Sales Directors may not want to display and that is not pertinent to the mortgage process, like lead cost.

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