How to Find HELOC Customers with a Specific Balance

Objective

In this article, we will be talking about one way you can identify customers who have a HELOC with a certain balance. We will explore the following topics:

  • Which report works best for finding your loan customers that have a minimum remaining balance on their HELOC account.
  • Which report metrics are most effective at returning a list of customers you could send an offer to.

Which report works best for finding these HELOC customers?

For this audience, we will want to use the Loan Listing report, which can be found within the Account Level tab of the Actionable Reports menu. This report allows you to query specific loan-related information on an account-by-account basis. In this case, we will be looking for those with a HELOC product that has a particular remaining balance, which we will need to use Excel to do. Once we run the report and find our customers/members, we will utilize the Matching Identifier report to turn this list into a campaign.

Which report metrics work best for finding this HELOC audience?

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For this report, the following report criteria works best:

  • Customer Type - We will want to set this field to look at only ‘Nonbusiness’ customers for the purposes of this audience. While your product Service Groups should exclude ‘Business’ customers, this will guarantee that we don’t send any offers to business customers.
  • Service Grouping - For this field, we want to include our HELOC Service Group(s). If you have more than one group of HELOC products, then it's best to start with the broadest set of these products groups.
  • Current Status - In this area, we want to include any account status relating to the product being Open and Active. Most likely, you will just have this one status to mark the product as being Active, but be sure to include any other custom statuses for these products to exclude anyone with an Inactive account.
  • Number of Times Passed Due (optional) - For this field, we can use the ‘10 to 29 Days’ option, set to 0 in both fields. This will find those who have never been more than 10 days late on their account, therefore excluding those who you feel shouldn’t receive the offer because of past payment issues.

Finding the Available Balance in Excel

Now, we will need to export our results and move them into Excel to find those with a minimum balance threshold. While we do have a field that could have this data mapped into it (Credit Left, which is column AG), most of our customers are not handing us this data. If you do not see this field populated within the Excel document, then you will need to do some additional calculations to find the remaining balance for those HELOC accounts. To do this, you will want to add a column to the right of column AA (Current Balance) with the header of Available Balance. In that column, you will want to subtract the Current Balance from the Origination Amount using the formula =z2-aa2. Copy that formula all the way down the page and you will get the Available Balance for each of these HELOC accounts. You can then sort the column to find those with a minimum balance and use their Customer ID or Onovative ID in the Matching Identifier report to begin a campaign.

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