Mortgage Technology Company Top list has introduced what it says is a killer new tool that will help loan officers generate repayment options for their customers.
The technology, called “Recapture,” is integrated with leading pricing engines, and provides LOs with timely, accurate data that identifies more refi opportunities for customers.
Unlike other “rate alerts,” the Uplist product automates the entire reinvestment analysis process. This includes property ownership checks, automated valuation models (AVMs), loan amortization and financial benefit calculations.
If it is directly integrated into the product pricing engine (PPES) – such as The Best Greenor Polly‘s — LOs are notified when there are favorable opportunities to recover money from customers.
The tool also models potential savings for homeowners by analyzing various interest, closing costs and payment options. Recap also creates a borrower profile and writes a custom email, allowing LOs to quickly engage clients with personalized repayment options at a faster pace than other standard alerting tools.
Loan officers can also include a lender’s consent to change the price. They can also filter their book of business by high interest rates, identifying past clients who would benefit from a quick analysis.
Sales leaders and managers can use the system to determine which LOs are using the product to get referrals from their books, said Jeff Bell, founder and CEO of Uplist.
“They see everyone who borrows money from the company they use,” said Bell. “They see how many loans they have entered into our program, how many opportunities have been identified, how much is that money, and do they go in to actually use it?”
So, if an LO complains about their volume, they can come in and say, ‘Well, you haven’t been in here since the 7th and I see there are fifteen million chances. You’d say, ‘What are you doing?’”
Uplist targets the real estate market by product, but is also available to third-party developers.
“Our goal is to give loan officers the ability to perform all credit checks and deliver home owners an easy-to-read presentation at the push of a button,” Bell said in a statement. “With Recapture, mortgage professionals can drive additional business growth, maximizing opportunities within their closed loan pipeline.”
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