Sales Boomerang, the industry’s top-rated automated borrower intelligence and retention system, today announced the beta release of Prescriptive Scenarios, a product line of ‘smart’ loan scenarios designed to identify the ideal loan for each borrower.
“Prescriptive Scenarios represent a huge leap forward in mortgage borrower intelligence and retention,” said Sales Boomerang CEO Alex Kutsishin. “We listened carefully to our clients’ desire for a fuller understanding of each borrower, including not just the opportunities they represent but also their real-time ability to qualify for those opportunities. Prescriptive Scenarios knocks it out of the park by drawing on multiple criteria to serve up 100% relevant loan opportunities.”
Founded in 2017, Sales Boomerang scours mortgage lenders’ customer databases for missed loan opportunities. The firm’s wildly popular mortgage opportunity alerts have helped companies large and small generate billions of dollars in additional loan volume by getting in front of borrowers with the right loans at the right time. With Prescriptive Scenarios, Sales Boomerang significantly advances the borrower retention category by triangulating multiple points of borrower intelligence to deliver opportunities that approach 100% relevance.
The beta release includes three categories of Prescriptive Scenarios:
- Rate-and-Term Scenarios are triggered when (a) a lender could refinance the borrower into a new loan with a better rate, better loan terms, or both; and (b) the borrower is credit-qualified for the lender’s available conventional, FHA Streamline or VA IRRRL refi programs.
- Cash-Out Scenarios are triggered when (a) a borrower has enough equity in their home to draw out cash for reasons such as making home improvements or paying down another debt; and (b) the borrower is credit-qualified for the lender’s available conventional, FHA or VA cash-out refi programs.
- FHA Mortgage Insurance (MI) Removal Scenarios are triggered when (1) a borrower with an FHA loan has 80% or greater equity in their home; and (b) the borrower is credit-qualified for the lender’s available refi programs.
Sales Boomerang leverages real-time pricing data from Optimal Blue to ensure Prescriptive Scenarios always reflect a lender’s current loan rates. Additionally, lenders can personalize Prescriptive Scenarios by layering on additional intelligence (for example, a borrower’s credit card debt load) or setting custom thresholds for criteria like home equity or loan-to-value (LTV) ratio.
“With Prescriptive Scenarios, there is zero confusion on the loan originator’s part as to why they’re receiving an alert; the relevance is immediately apparent,” said Kutsishin. “The reason lenders enjoy such a huge return on their investment in Sales Boomerang is simple: we deliver a 20-40% lift in loan volume while dramatically driving down the cost of customer acquisition.”
Lenders who wish to be among the first to try Prescriptive Scenarios can email firstname.lastname@example.org. Beta participants will receive fully actionable alerts at significantly reduced pricing. Space is limited.