The credit industry is notorious for low customer retention – in fact, only 1 in 5 borrowers return to their original lender for a subsequent loan.

Without the right tools to beat those odds, lenders have had no choice but to devote dollars and resources to acquiring new customers. Sales Boomerang solves this problem by helping banks, credit unions and independent mortgage lenders build lasting and profitable relationships with their borrowers.

“Our customers keep up to 65% or more of their old customers. The result is that for every $ 1 that our customers pay us, we return them $ 20 in profit, ”Kutsishin explains.

Last year, lenders generated over $ 3.7 trillion in mortgages, making 2020 the industry’s largest year since 2003. With fewer refinancings slated for 2021, competition is sure to be fierce. Lenders need to determine now how they will retain borrowers in this increasingly competitive market.

Sales Boomerang is the industry’s first automated borrower information system. The system is designed to make lenders invaluable to their clients by leveraging existing database information to present timely and actionable opportunities.

Gone are the days of calling a former client in the vague hope that they are ready for a new loan. Instead, the Sales Boomerang system notifies mortgage lenders as soon as a person in their database is Actually ready for a loan, be it a home equity loan, refi, or new purchase.

For example, Sales Boomerang intelligently assesses current interest rates as well as factors such as a consumer’s personal debt, home value, home equity, and FICO score to accurately determine when a contact becomes a viable candidate for a withdrawal refi or home equity loan. Likewise, Sales Boomerang alerts lenders as soon as a former customer starts shopping for a new mortgage. The system can even tell if a previously unqualified customer has improved their credit and now qualifies.

“Our solution is to create a monumental barrier between lenders and their competitors, which makes it difficult for their clients to leave them,” Kutsishin explained.

Overall, Sales Boomerang offers a suite of borrower information products to help lenders connect borrowers with the right loan at the right time. And to make it easier to respond to opportunities, Sales Boomerang integrates with the industry’s leading CRMs, enabling the automatic deployment of context-specific marketing campaigns.

To be successful in 2021, lenders will need to protect their market share. Sales Boomerang users spend an average of $ 240 per loan, far less than the average cost of $ 1,500 to $ 3,000 to acquire a new customer, while earning an average of 20-40% in volume.

The numbers speak for themselves: By putting lenders in touch with customers at the right time – when they’re ready for a loan – Sales Boomerang has helped lenders capture billions of dollars in loan volume that otherwise would have disappeared.

“There is no other borrower intelligence solution like Sales Boomerang in the market. There’s a reason our average ROI is over 20X, and that’s because of the value our customers receive, ”Kutsishin said.

Alex Kutsishin, CEO and co-founder

Serial entrepreneur Alex Kutsishin is a HousingWire technology pioneer whose first-of-its-kind borrower intelligence software has helped lenders turn neglected opportunities into billions of dollars in additional loan income.

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Mark Cunningham, CCO and co-founder

Mark Cunningham is a Chief Strategy Officer with 20 years of experience in business growth and technology product innovation in the mortgage industry.

Arend-de-Jong

Arend de Jong, Chief Financial Officer

Arend de Jong is a strategy and finance expert with 20 years of experience growing startups, launching new lines of business and rapid organizational growth.

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