No one wants a borrower to walk away, especially within the first few months after closing. With Xactus’ Portfolio Monitoring, you can avoid early payoff penalties and obtain immediate alerts when one of your recently closed borrowers is shopping for a mortgage, refinance, or equity loan.
We provide daily notifications within 24 hours of their occurrence, enabling you to reach out to borrowers immediately when they’re considering new loans. Staying front of mind increases your chances of recapturing the borrowers’ activity – before they close with another lender.
Unlike other monitoring programs which only provide single-bureau monitoring, Xactus’ Portfolio Monitoring includes mortgage inquiry alerts from all three bureaus. This can increase lead delivery by 50%* and provide more leads for more possible loan closings. While a tri-merge credit report is required for final loan funding, many lenders pull a single bureau to pre-qualify their borrowers, only pulling a tri-merge at the last possible minute to avoid alerting others to the trigger lead opportunity. Our multi-bureau monitoring can give you a heads up to lending activity much earlier in the game.
Put Portfolio Monitoring to the test with our complimentary 30-day look back. All you have to do is provide your input file (layout attached). We’ll send you a report detailing what mortgage alerts you would have received over the last 30 days, comparing results from one-, two-, and three-bureau monitoring programs.
Compare the program’s costs to possible new loan funding revenue. You’ll find that even the most conservative pull-through rates reflect staggering returns! Most clients feel closing one or two loans a month allows the program to pay for itself!
Once you go live with a monitoring program, we require you to provide the consumer a firm offer of credit on all received leads. We will work with you to define your specific monitoring criteria to ensure we return quality alerts.
Contact your Xactus Account Executive today.
*Industry standards for monthly hit rates of new mortgage inquiry alerts: 1.7% for single-bureau, 2.6% for two-bureau and 3.2% for tri-bureau against client databases.
** Our program will require you to provide the consumer a firm offer of credit on all received leads. We’ll work with you to define your specific monitoring criteria to ensure we return quality alerts.