Sales Boomerang is revolutionizing the relationship between mortgage lenders and borrowers. The company’s line of automated alerts help lenders increase repeat and referral business by ensuring loan officers know exactly when someone in their database is ready for a loan. The Sales Boomerang borrower intelligence system helps improve borrower retention and find overlooked opportunities by monitoring a lender’s database and alerting loan officers when a consumer is ready for a loan. ‘Defensive’ alerts trigger when a consumer takes an action, like applying for a mortgage with another lender, paying off a loan or listing their home for sale. ‘Offensive’ alerts enable loan officers to proactively present opportunities to consumers once they meet certain criteria, such as attaining a target credit score. By helping lenders identify the best times to offer financial opportunities, Sales Boomerang aids consumers while improving lenders’ bottom lines.
- After seeing explosive three-year revenue growth of more than 3800%, the company was in the top 3% of the 2021 Inc 5000.
- The technology works with over 150 IMBs, banks and credit unions for whom it delivered $468 billion in loan opportunities last year.
- Within months of implementing Sales Boomerang, lenders see an average 20–40% lift to loan volume and increase their borrower retention from the dismal industry average of below 20% to an average of 65% or more.
- Over the course of three years, Independent data from CoreLogic showed that lenders using Sales Boomerang achieved customer retention rates of 1.4–5.3 times industry norms.
Owings Mills, MD