MURRAY, Utah, Feb. 7, 2023 (SEND2PRESS NEWSWIRE) — MonitorBase, a mortgage fintech company that monitors prescreened credit information and real-time behavioral data to alert lenders when one of their contacts is in the market to purchase or refinance a home, today announced the launch of instant credit inquiry alerts for their mortgage lender clients. As part of the MonitorBase platform, the new feature alerts loan officers within minutes of a contact in their database has a mortgage credit pull with a competitor and instantly generates a credit offer email without the loan officer needing to take additional action.
Image Caption: MonitorBase.
The largest banks have historically had better access to data technologies and relentless call center teams, which often leaves smaller mortgage lenders and brokers on the losing end of the technology, without access to the tools to defend their database and clients. MonitorBase’s new, proprietary instant trigger alerts means smaller lenders, regional banks and even single brokers now possess the same type of powerful relationship retention technology that was formerly available only to big banks. By providing instant alerts and credit offers, the new feature helps loan officers re-engage past relationships before they are inundated with solicitations from other lenders.
“We are thrilled to offer this new instant inquiry alert technology to our clients so they never miss a potential sales opportunity,” said MonitorBase CEO Louis Zitting. “Finally, even the smallest mortgage lenders can know the minute a client or partner is in the market for financing, and 24 hours before lead sellers send that information to hundreds of other lenders. At a time when origination volumes are down across the board, being 24 hours ahead of the competition will mean everything.”
According to MonitorBase Vice President of Business Development William LeBaron, mortgage trigger leads are a challenging endeavor because they often prompt multiple mortgage lenders to blow up the phone of the prospect or past client.
“No one wants to be inundated with mortgage offers every time they experience a slight improvement in their credit or make a single inquiry,” LeBaron said. “Unfortunately, smaller mortgage lenders, solo shops, and brokers face the greatest consequences when this occurs because they can potentially lose a client to a big bank. But by giving them a head start, our instant inquiry alerts place loan officers in a much better position than their competition.”
Believing that every contact matters, the company is committed to helping retail loan officers find new loan opportunities in their existing contact databases so that lenders of any size are in the best position to serve their clients.
Since 2007, MonitorBase has been the mortgage industry’s leader in database retention technology. Our commitment to helping retail loan officers find loans in their contact database has been unparalleled for nearly two decades. No matter what size lender, broker, bank, or credit union, our mission is to provide the retail loan officer the most powerful toolsets to turn their contacts and relationships into closed loans. That is why we believe Every Contact Matters. MonitorBase was founded in 2007 by Louis Zitting and is based in Murray, Utah.
For more information, visit https://www.monitorbase.com/.
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News Source: MonitorBase