Credit trigger programs are expected to be a goldmine for high-intent leads and a cornerstone of any Originations strategy. But they’re also expensive and competitive. Without the right structure, lenders end up overpaying for leads that don’t convert or failing to offer a better deal than the borrower’s current lender.
Here’s a checklist for credit triggers program setup to maximize profitability
Are we segmenting the right borrower profiles before pulling data?
- Do we have clear criteria for who qualifies for our offers?
- Are we prioritizing refinance vs. purchase leads, or running both?
- Are we excluding unqualified borrowers (high DTI, recent delinquencies, ineligible loan types)?
Are we getting the right information from our vendor—and using it effectively?
- Beyond credit inquiries, what other data are we receiving? (debt balances, current rates, equity position, etc.)
- Are we personalizing messaging based on pain points? (e.g., cash-out opportunities for high-equity borrowers, lower rates for FHA/VA)
- Are we A/B testing offers to improve response rates?
Do we have the right bureau and data filters in place?
- Are we pulling data from multiple bureaus to maximize reach?
- Are we filtering based on loan balance, LTV, rate sensitivity, and income factors?
- Are we tracking response rates by bureau to optimize future pulls?
Is our campaign timing optimized for higher response rates?
- Are we engaging leads within 24-48 hours of the trigger event?
- Are we running follow-ups at the right cadence (immediate → 3-day → 7-day touchpoints)?
- Are we tracking response rates by timing window to refine outreach?
Are we choosing the right outreach channels?
- Are we balancing direct mail, email, and call center outreach?
- Are we layering in digital remarketing for higher engagement?
- Are we testing SMS as an additional touchpoint (where compliant)?
Are we properly suppressing non-eligible leads?
- Are we excluding recent inquiries who didn’t convert?
- Are we removing leads with duplicate records across multiple sources?
- Are we tracking opt-out and suppression trends to improve data accuracy?
Are we tracking performance by source and conversion stage?
- Are we breaking down response rates by trigger type?
- Are we measuring conversion rates at each stage (lead – app – funded loan)?
- Are we adjusting spend and outreach based on highest-converting segments?
Are we optimizing cost per conversion (CPC) and accounting for margins?
- Are we calculating total cost per funded loan (CPL + firm offer fulfillment + sales margin)?
- Are we ensuring our offers provide real value over the borrower’s current deal?
- Are we balancing volume with cost-effectiveness to maintain profitability?
Do we have a structured optimization plan?
- Are we testing different data sources and refining bureau selection?
- Are we adjusting trigger frequency strategies based on performance trends?
- Are we optimizing outreach frequency based on lead engagement data?
Are we measuring long-term retention and repeat conversions?
- Are we tracking how many trigger-based borrowers refinance with us again?
- Are we using post-close marketing to nurture leads who didn’t convert?
- Are we leveraging CRM insights to refine future credit trigger strategies?
Final Thought:
Credit trigger leads aren’t cheap—but when properly segmented, messaged, and optimized for cost efficiency, they can yield high-intent borrowers at a competitive acquisition cost.
Use this checklist for credit triggers to ensure your program isn’t just generating leads—it’s generating loans.