Intake: Lender staff (concierge teams)

Appendix N. Bank of America Study Participant Recruitment Script

HUD’s Pre-Purchase Homeownership Counseling Demonstration and Impact Evaluation

1. Lead Letter from Lender¹

Dear Mr. and/or Mrs/Ms. X

Thank you for contacting Bank of America for a home loan. We appreciate your business!

I am writing to invite you to join us in a useful new study that could make homebuying more successful for more Americans. Participation in this study is voluntary. As a participant, you will receive $150.00 or more over the course of the study as a thank you from the study team for your time. Bank of America is participating in this national study with the U.S. Department of Housing and Urban Development (“HUD”). HUD hopes to learn what kinds of information people find most helpful when buying their first homes.

We would like to recommend you to HUD as someone who might be interested. But of course, we need your permission first.

A Bank of America representative will phone you next week to ask if we can share your name and contact information with HUD. Then HUD’s study team (a company called Abt SRBI) will contact you to describe the study and answer your questions.

This national research study could be useful to you and future first-time homebuyers like you. However, study participation is entirely up to you and participating in this study will not affect our consideration of your loan application.

If you have any questions about this letter, call Bank of America directly at xxx-xxx-xxxx. We invite you to join this important national study and look forward to speaking with you.

Many thanks for thinking of Bank of America.

Sincerely,

< name>

Bank of America

2. Lender Telephone Outreach/Outbound Call ²

Hi, may I speak to [Mr. /Ms. X]? This is [name] from Bank of America.

Hi, Mr. /Ms. X –I am calling about a letter we recently sent you. It invited you to join in a first-time homebuyer study sponsored by the U.S. Department of Housing and Urban Development. Did you receive and read that letter?

(Customer responds YES or NO)

If No: That’s okay. A while ago, you applied to Bank of America for a home loan. Bank of America is helping the U.S. Department of Housing and Urban Development (known as “HUD”) with a national study of first-time homebuyers. Participation is voluntary. If you choose to participate, you will receive $150 or more over the course of the study as a thank you from the study team for your time. The results will help make homebuying more successful for more people. Can I take two minutes now to tell you a little more about the study and why we’d like you to join in? (Go to next customer response categories)

If Yes: Great! Well, we are calling you today to follow up on that letter.

Recently, you applied to Bank of America for a home loan. Bank of America is assisting HUD by contacting first-time homebuyers to see if they may be interested in participating in a new national study with HUD. Participation is voluntary. If you choose to participate, you will receive $150 or more over the course of the study as a thank you from the study team for your time. The results will make homebuying more successful for all Americans. Can I take two minutes now tell you a little more about the study so you can decide whether you may want to participate?

(Customer responds YES or NO)

If No: “Okay. Thank you for your time today.” and end call.

If Yes: Great! Through the study, HUD is trying to learn what information first-time homebuyers find most useful and what helps them succeed. We would like to recommend you to the study team as someone who might be interested. Participation is entirely up to you, and it will not affect your application with Bank of America in any way. So, if you agree to have your name forwarded to the study team, I will formally ask for your permission now? In compliance with applicable privacy law, may I have permission to provide your name and contact information to the study team?

Yes: “Great! We will now pass your information to the study team. HUD has hired a company called Abt SRBI to conduct the study. Abt SRBI will contact you in the next few days to discuss the study and answer questions. Thank you and have a nice day.”

No: “Thank you very much for allowing me to tell you more about this study. Have a nice day.”

(No responses) Concierge team should attempt to understand and overcome customer’s objection. If unable, thank customer for time and end call.

3. Voicemail Scripts³

• First Voicemail Script

This message is for Mr. and/or Mrs. XXXX.

This is [ASSOCIATE NAME] calling on behalf of Bank of America.

Recently, you applied to Bank of America for a home loan. Based on your application, Bank of America invites you to join in a new national study of first-time homebuyers. We are helping the U.S. Department of Housing and Urban Development (known as “HUD”) in this important research. If you choose to participate, you will receive $150 or more over the course of the study as a thank you from the study team for your time. The study’s results could be helpful to all first-time homebuyers like you.

We will send you an e-mail in the next few days about the study, and we may call you again. Please contact Bank of America at xxx-xxx-xxxx for more information. We appreciate your time and look forward to speaking with you.

• Last Voicemail Script

This message is for Mr. and / or Mrs. Xxxxx.

This is [ASSOCIATE NAME] calling on behalf of Bank of America.

We hope to hear from you soon. This is your final invitation to join us in an important national study of first-time homebuyers. We are helping the U.S. Department of Housing and Urban Development (known as “HUD”) learn what information first-time homebuyers find most useful. If you choose to participate, you will receive $150 or more over the course of the study as a thank you from the study team for your time. Joining the study will not affect your recent loan application with Bank of America. Please contact Bank of America at xxx-xxx-xxxx for more information. This is your final invitation, so we look forward to speaking with you very soon.

4. Email Outreach from Lenders⁴

Dear Mr. and / or Mrs. X

Thank you for submitting your loan application to Bank of America!

Bank of America is assisting the U.S. Department of Housing and Urban Development (known as “HUD”) with a national study of first-time homebuyers. HUD wants to learn more about the information first-time homebuyers find most helpful. HUD will use the study results to help future first-time homebuyers like you. If you choose to participate, you will receive $150 or more over the course of the study as a thank you from the study team for your time.

There is no obligation. Participating will not affect your loan application in any way.

To learn more about the study and your role in it, please click on the button below. We will provide your contact information to the study team. HUD has hired a company called Abt SRBI to conduct the study. They will contact you to provide more details and answer your questions. Then you can decide whether to participate in the study.

To comply with applicable privacy laws, may I have permission to provide your name and contact information to the study team at Abt SRBI so they can contact you?

• Yes, send my information to the study team. [Please click here (insert link)]

If you have any questions about this email please call Bank of America directly at xxx-xxx-xxxx.

Thank you for your consideration.

Sincerely,

1 This letter is subject to the approval of Bank of America’s legal, compliance, and marketing teams.

2 Telephone script is subject to the approval of Bank of America’s legal, compliance, and marketing teams.

3 Voicemail scripts are subject to the approval of Bank of America’s legal, compliance, and marketing teams.

4 Email is subject to the approval of Bank of America’s legal, compliance, and marketing teams.

Pre-Purchase Homeownership Counseling Demonstration and Impact Evaluation  ▌pg. 3