BALTIMORE, Md., Feb. 7, 2022 (SEND2PRESS NEWSWIRE) — Sales Boomerang, the mortgage industry’s top-rated automated borrower intelligence and retention system, today announced the launch of Reverse Mortgage Alert, a new addition to its pantheon of automated borrower intelligence products, as well as significant enhancements to the company’s existing Rate Alert product.
The all-new Reverse Mortgage Alert notifies lenders when a past borrower or prospect would be a good candidate for a home-equity conversion mortgage (HECM), also known as a reverse mortgage. Sales Boomerang’s Reverse Mortgage Alerts helps lenders identify contacts who could benefit from a reverse mortgage based on their current age and accumulated home equity. With American homeowners sitting on historic levels of untapped home equity, Reverse Mortgage Alert gives lenders the head start they need to connect with reverse mortgage prospects ahead of the competition.
Reverse mortgages include both HUD-insured and proprietary home-equity loan products that offer unique ways for older homeowners — generally, those age 62 and above — to tap their home equity. Reverse mortgages can be used to finance the purchase of a new home, make improvements to an existing home, pay for long-term care or medical expenses, or supplement a homeowner’s retirement income, among other purposes.
“With untapped home equity at an all-time high, this latest expansion to our award-winning line of automated borrower intelligence and retention alerts is extremely timely,” said Sales Boomerang Vice President of Product Mike Spotten. “By activating Reverse Mortgage Alerts, Sales Boomerang users can build healthier loan pipelines while helping customers access loan options they may otherwise have learned about from a competitor — or perhaps not have learned about at all.”
Sales Boomerang has also enhanced its existing Rate Alert. A new feature enables users to limit the frequency of alerts they receive. In addition, a tighter integration with Optimal Blue eliminates the need for lenders to manually update their rates in Sales Boomerang; instead, lenders receive timely and accurate Rate Alerts based on Optimal Blue Mortgage Market Indices™. For more information about Sales Boomerang’s Rate Watch and Reverse Mortgage alert offerings, contact your client success representative or email sales@salesboomerang.com.
About Sales Boomerang:
Sales Boomerang transformed the relationship between mortgage lenders and borrowers with the introduction of the first automated borrower intelligence system in 2017. The company’s intelligent alerts notify lenders as soon as a past customer or prospect is ready and credit-qualified for a loan. As the mortgage industry’s #1 borrower retention tool, Sales Boomerang is trusted by more than 150 lenders — including brokers, independent mortgage companies, credit unions and banks — to help build lasting borrower relationships that maximize lifetime customer value. To date, Sales Boomerang alerts have enabled lenders to close more than $150 billion in additional loan volume that would have otherwise been overlooked and achieve customer retention rates that outperform industry norms by an average of 3-5X. To learn more about Sales Boomerang and its No Borrower Left Behind™ ethos, visit https://www.salesboomerang.com.
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News Source: TrustEngine
