The loan is paying off either way. Give yourself the best chance to keep the customer.
Every payoff you do not recapture hands a customer, and the balance they carried, to a competitor. At most lenders, recapture is the least managed part of the business. We find out what happened to every loan that paid off, then build the program that keeps the next one.
- Advising lenders since
- 2003
- Mortgage companies served
- 600+
- Banks and thrifts served
- 120+
- Reviews a year
- 40 to 60
What the playbook covers
- Your last six months of payoffs, sorted three ways: refinanced elsewhere, sold the home and financed the next one elsewhere, or took no new loan
- The dollars that paid off without ever getting a phone call
- Which loans are worth working, and an honest list of the ones you were never getting back
- Who makes the call: the original loan officer, a retention desk, or a timed hand-off between them
- How you reach borrowers: portal, email, text, dialer, and the payoff-quote call
- Purchase recapture, the half of recapture that does not depend on rates
How it works
- 1A call about your portfolio, your payoffs, and how you handle them today.
- 2A loan-by-loan review of your last six months of payoffs.
- 3Written rules for who gets called, who makes the call, how fast, and how you count the result.
- 4One recapture number and a 90-day plan, handed to the program owner.
Talk with us about what you need.
A 30-minute call is the fastest way to see whether we are a fit. No cost, no obligation.
What you receive
- One recapture number with fixed rules for what counts, what you leave out, and how often you report it
- Reporting by investor and by the reason each loan left
- An owner for the program and a monthly report page
- A 90-day plan where every item has a name, a date, and a way to tell whether it worked
Why Garrett, McAuley
- Built on your own payoffs, not a peer ranking
- A short, fixed-scope first engagement
- Ready before the next refinance wave, when payoffs spike
Who you will work with
Joe Garrett
Co-Founder & Principal
Joe Garrett has worked in banking and mortgage banking since 1977, mostly in FDIC-insured and OCC-regulated banks. He served on the boards of four banking institutions and as Chairman and CEO of two of them.
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Michael D. McAuley
Co-Founder & Principal
Michael D. McAuley became a commercial banker in 1984, specializing in mortgage warehouse lending and commercial lending. He managed the warehouse lending business for Washington Mutual and JPMorgan Chase, and he has helped commercial banks set up, assess, and improve their warehouse lending operations.
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Steve Stone
Managing Director
Steve Stone has spent his career in independent mortgage banking, as an entrepreneur and as a senior operating executive. He founded and later sold an independent mortgage banking company, and he has managed loan production, servicing, secondary marketing, MSR strategy, and technology.
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Common questions
- Why not compare our recapture rate with other lenders?
- In our survey of servicing clients, 38 of 53 do not track their recapture rate, and those that do define it differently. So we measure your program against your own last 12 months of payoffs.
- Why build the program now?
- Payoffs spike when rates fall, and that is the worst moment to start writing the rules. The program takes longer to build than a refinance wave takes to arrive.
- What data do you need?
- We start from your payoff records for the last six months, so the findings describe your own book, not an industry average.