With its Borrower Intelligence and Retention System, Sales Boomerang aims to bring relationships back to the lending experience.
A lender’s database is made up of prospects, past customers, dead deals and opportunities that didn’t come through.
With Sales Boomerang’s borrower intelligence system, lenders are notified when anyone in their database is shopping for a loan or is experiencing another event that could change their loan status. The system gives lenders the information they need, pointing them in the direction of who to reach out to about this potential new prospect and what loan product they could be looking for based on what’s changed.
The Sales Boomerang system features individual alerts that lenders can toggle on or off in order to be notified when a potential client or return borrower opportunity arises.
These alerts include:
- Mortgage Inquiry Watch
- Credit Improvement Watch
- Equity Watch
- New Listings Watch
- Rate Watch
- Debt Watch
- Life Events
The system empowers lenders to offer their borrowers the best loan product for them at the right time.
By tracking all relevant events that are connected to the borrower, lenders can create an experience based solely on what’s best for the borrower, confident that they will not miss an opportunity to serve their clients.
As opposed to driving lead generation, the Sales Boomerang borrower intelligence and retention system alerts lenders to their own leads and previous customers already in their database who are ready for a new loan product.
For example, the Mortgage Inquiry Watch alerts lenders when a lead, prospect, turndown or customer is shopping for a new mortgage with a competitor, allowing LOs to approach those potential customers and secure the deal themselves.
And with the Credit Improvement Watch, if a potential client doesn’t qualify for a loan due to their credit score and is entered into the lender’s CRM as unqualified, Sales Boomerang tracks them and notifies the lender as soon as their credit improves enough to qualify. The system would also send that client a firm offer of credit letter on the lender’s behalf to ensure they remain in compliance.
The system and its notifications save loan officers time and work by connecting them to the right borrower at the right time. Knowing exactly who to pursue for new business can ease lender concern about missing opportunities and increase their confidence in their own work.
Sales Boomerang’s system easily integrates with popular customer relationship management tools, requiring no extra tech to learn or install.
The system aligns borrower and lender interests, drives bottom-line impact for lenders, and can reduce both loan officer and borrower churn.
In 2019, Sales Boomerang clients funded $4.1 billion from their own databases, thanks to the borrower intelligence notifications delivered by the system. On average, lenders using Sales Boomerang received 12X their return on investment, as well as 3-4X customer retention.
“We want borrowers to love the lending experience rather than dread it, and that starts with helping lenders fall in love with the experience again,” Cofounder and CEO Alex Kutsishin said.
“Sales Boomerang empowers lenders to deliver the best solutions to their borrowers at the right time with the right messaging, from deal one to 100, and every loan in between.”
Alex Kutsishin, Cofounder and CEO
Alex Kutsishin is a serial entrepreneur, and Sales Boomerang is his 7th company. In 2011, Kutsishin founded the nation’s first code-free mobile software development software, which spread to more than 100 countries before he sold his shares in 2014. Kutsishin is now the co-founder and CEO of Sales Boomerang, the world’s first fully automated borrower intelligence company.