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Total Expert’s Customer Intelligence drives hundreds of new originations by looking for signals from customers

Customer Intelligence drives growth and retains customers by surfacing borrower intent with consumer insights

As lenders continue to pivot strategies after last year’s record-breaking refinance volume, they’ve quickly found that, in this market, every mortgage counts. To make the most of it, lenders must be able to engage borrowers seeking to refinance cash out of their home, to purchase a new home and even the rare rate refinance. 

The good news is that there is a solution that helps lenders do just that. Customer Intelligence from Total Expert drives growth and retains customers by surfacing borrower intent with consumer insights and signals in the Total Expert Platform. Total Expert’s Customer Intelligence drives hundreds of new originations by looking for signals from customers of a need for mortgage financing. 

A key feature is its mortgage credit inquiry alert, which lets you know when a lender pulls credit for a mortgage on someone in your database. This is key to overcoming borrower retention issues, a common struggle. 

Many people don’t immediately think of a lender when they want to sell or buy a home. They think of contacting a Realtor first. The Realtor then refers to lenders they trust. If you were the lender that provided the customer’s last loan, you’re usually out. You wouldn’t know the customer needs credit unless they literally told a loan officer or applied on your website.  

Customer Intelligence solves this problem because homebuyers often look at mortgage payments to determine their price range. When they want to know how much house they can afford, they start shopping lenders. Customer Intelligence’s mortgage credit inquiry alerts work to inform its users the moment a credit pull takes place for a mortgage on someone in your database. 

Catching a credit pull also opens other avenues for mortgage originations. Borrowers have a record $11 trillion in “tappable” equity that they could use for a cash-out refinance or home equity line of credit (HELOCs). Customer Intelligence allows lenders to engage a customer at a time when they are looking for mortgage credit.

Customer Intelligence by Total Expert also features listing insights, which delivers an alert when a borrower’s home is put on the MLS. And coming soon, Customer Intelligence will feature Equity and Rate Insights, which alert a lender when a borrower has meaningful equity in their home, or a new rate is available that would be meaningful to a prospective borrower. 

In today’s market in which every loan counts, it’s vital to have solutions in place to ensure you’re engaging and retaining borrowers. In that regard, Total Expert’s data speaks for itself: For every 50,000 contacts monitored in a mortgage or banking database through Total Expert’s Customer Intelligence functionality, lenders discover nearly 200 additional mortgages per year, according to lender data. 

Finally, the biggest payoff experienced by Total Expert customers is the level of service and deeper relationships with customers. A lender that can identify and engage about their most pressing needs is well ahead of peers who are still in passive mode on service. Borrowers will choose lenders who step forward to serve them.

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