Diana Marszalek 13 Apr 2020 // 4:10AM GMT
NEW YORK — SourceCode Communications has been named communications agency of record for Noah, which provides homeowners with financing in exchange for a piece of their property’s future appreciation.
SourceCode and Noah kicked off the partnership in February, with a focus on Noah’s rebrand from Patch Homes and developing a thought leadership strategy.
SourceCode also helped the company adjust its operation given the Covid-19 pandemic, and the added financial stress it is causing for homeowners. Noah cut fees for its homeowner protection program, which offers advances to homeowner partners who need assistance making mortgage payments. The company also cut fees for its home equity sharing product.
SourceCode won the business in a five-agency competitive review. There was no incumbent.
“In the midst of a major rebrand, we were looking for an agency who was able to help amplify our voice to new audiences by striking the right balance of customer empathy and financial expertise,” said Nirmal Deshpande, director of product at Noah. “SourceCode was an immediate partner to us, quickly processing the intricacies of our unique business model, bringing creative ideas to the table, and crafting Noah’s story from the very beginning.”
Launched in 2016, Noah is based on the idea of helping homeowners access their home equity and meet their financial goals without incurring new monthly payments or interest. Homeowners in select metro areas across the US receive one-time cash payments in exchange for a share in a percentage of their home’s future appreciation or depreciation. This equity sharing model is billed as a debt-free alternative to traditional home equity loans.