June 21, 2006

Generate New Leads Through Predictive Models

Genalytics, a provider of data solutions that helps organizations better target its customers, recently unveiled ProspectDirect. Built upon Genalytics patented analytics technology, ProspectDirect reportedly helps mortgage brokers, marketers, direct marketing agencies, list consultants and marketing services providers determine prospects for a campaign.
  
According to Genalytics, ProspectDirect allows marketers to obtain leads at a lower net cost per response, offer demographic customer profile reports and improve its direct marketing response rates by 10-25 percent.

“With ProspectDirect, our goal is to democratize sophisticated analytics,” said Ray Kingman, Genalytics CEO. “Every marketing campaign can now realize the 10-25 percent lift in results that comes from a predictive model applied to list selection without investing in sophisticated technology or expertise.”

The company claims that ProspectDirect can provide marketers access predictive models in the categories of finance, real estate, automotive and consumer products and services. Individualized models for specific products or service campaigns are also built and can be added to the platform in the form of a custom Prospect Universe for marketers who prefer a private labeled version of ProspectDirect.

According to Genalytics, the product automates the predictive modeling process by dissecting more than 500 demographic, geographic and affluence variables associated with known customers and then scoring other households in the targeted geography as to their similarities and propensity to respond to an offer.

ProspectDirect is priced competitively with traditional bulk lists, the company said. All selects and modeling are free. Users pay a single flat rate for names rented, which is typically competitive with the cost of compiled names. For more information, visit www.genalytics.com.



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Allied Accused Of Civil Rights Violations


STUART, FL - The National Community Reinvestment Coalition (NCRC) filed a civil rights complaint with the United States Department of Housing and Urban Development (HUD) against Allied Home Mortgage Capital Corporation, the nation’s largest privately held mortgage broker/banker.

The complaint states that several Allied branches quoted less favorable rates and fees to minorities, displayed disrespect, and made racists comments to African Americans.

NCRC conducted the first-ever Broker Fair Lending Audit where mystery shoppers "tested" over 100 mortgage brokers from February 2005 to June 2006 in Atlanta, Georgia; Baltimore, Maryland; Chicago, Illinois; Los Angeles California; St. Louis, Missouri and the Washington, D.C., metro areas.

NCRC’s complaint alleges that Allied and it’s brokers engaged in racially discriminatory lending practices against African Americans and inhabitants of African-American communities by 1) Quoting different interest rates & fees on the basis of race; 2) Steering African American Consumers to more expensive non-prime products; 3) Not treating African-American applicants for mortgages as seriously as their white counterparts, despite their being more qualified; 4) Providing African-Americans with substandard & discourteous treatment; 5) Limiting access to credit on the basis of race; 6) Differential treatment on the basis of race in representing policies & practices; and 7) making inappropriate comments regarding the characteristics of communities.

Hilary Shelton, director of the NAACP Washington Bureau, called upon HUD to investigate the audit results.

 


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