Saturday, July 13, 2024

The President of South River Discusses Reverse Mortgage Business, Data Science, and Priorities

Tyler Plack/South River: Leveraging Data Science for Reverse Mortgage Success

Reverse business has been booming this year, and Tyler Plack from South River Mortgage is excited about the direction they are headed. With a focus on increasing the size of their sales floor and bringing on remote loan officers, they have seen positive results month over month. Plack is bullish on reverse mortgages and expects this trend to continue through the end of the year.

Their direct-mail model, coupled with a strong emphasis on data science, has been a key factor in their success. By analyzing consumer data and qualification metrics, they are able to target the right audience and help more people at a lower cost. This strategic approach has led to a significant boost in originations and a positive return on investment.

While data science may not be the key for every company in the industry, Plack believes in taking a multifaceted approach to origination. By diversifying their marketing strategies and exploring different avenues such as referral networks, they are able to reach a wider audience and maximize their potential for growth.

Overall, the future looks bright for South River Mortgage and other companies in the reverse business industry. With a focus on innovation, data-driven decision-making, and a diversified marketing strategy, they are well-positioned to continue their success through the end of the year and beyond. Stay tuned for more updates from Tyler Plack and South River on RMD.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The content is based on general research and may not be accurate, reliable, or up-to-date. Before making any financial decisions, it is recommended to consult with a professional financial advisor or conduct thorough research to verify the accuracy of the information presented. The author and publisher disclaim any liability for any financial losses or damages incurred as a result of relying on the information provided in this article. Readers are encouraged to independently verify the facts and information before making any financial decisions.

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