Friday, 5 March 2021 | The Latest Buzz for the Appraisal Industry

Sales Boomerang Tees Up Borrower Intelligence Tool

Sales Boomerang, an automated borrower intelligence and retention system, has rolled out 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,” says 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.”

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 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.

Photo: Alex Kutsishin

The post Sales Boomerang Tees Up Borrower Intelligence Tool appeared first on MortgageOrb.

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