The Q4 action plan that will end the year strong

The fourth quarter of the year is upon us but 2021 isn't over yet.

The fourth quarter of the year is upon us – but 2021 isn’t over yet. Every financial institution wants to close the year strong – but I have yet to meet a lender with loads of extra time to cram a bunch of new initiatives into the end of the year. So, I put my “busy lender” hat on and came up with three straightforward Q4 action steps I think will help almost any institution close the year strong and sail into 2022 on good footing. Whether you do all three things or just one, I think you will be glad you did.

Capitalize on a Key Q4 Marketing Opportunity

The holiday season is a high-spend time for consumers, and most turn to credit when it comes to funding extra purchases and travel. Using a HELOC rarely comes to mind; most consumers unconsciously keep doing what they’ve always done, without thinking through all the financial details. Before the holiday madness begins, getting a lower-interest home equity line of credit in place could make a lot of financial sense for your borrowers. In contrast to the more common strategies of higher-interest credit card spending, a personal loan, or depleting a savings account, a HELOC is an under-utilized tool. Not only does it offer lower interest rates than other forms of credit, but once it’s in place, offers the flexibility to only be used when needed. With homeowners sitting on more home equity than ever, this fall is the perfect time to run a HELOC promotion for the upcoming holidays. Use bulk AVMs to run a hyper-efficient and super effective campaign that targets only homeowners with a significant amount of equity or those who are eligible to increase their line of credit. And once you have run your bulk AVM order, you’ll be equipped with useful data for 2022 planning and goal-setting. The number of homeowners with a significant increase in property value can help you set targets and plan future home equity lending campaigns.


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