Monitoring Advantage – Customer Retention Services
We help you increase the percentage of repeat business with your past mortgage borrowers.
Benefits
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- Improves your client retention rate by monitoring your past mortgage borrowers and identifies when they make a mortgage inquiry with another lender. This gives you the opportunity to make contact with the borrower and retain them as a client.
- Mitigates repayment of Service Release Premiums (SRP) due to Early Pay Offs (EPO) charged against your company by the investor. You can monitor borrowers who have completed loans with you within the immediate past 6 to 12 months to determine if they are attempting to refinance early.
Highlights
- Monitor all of your completed loan customers
- The loan officer or assigned recipient receives an email notification within 24 hours when your past mortgage borrower makes an inquiry for mortgage credit
- Your notification includes the customer’s name, address, loan dated (if provided by you), one bureau FICO score and loan officer name (if provided by you)
- Excludes clients that are deceased, have a FICO score of 600 or lower or who have had a bankruptcy within the past 24 months
- Each loan officer can manage their customer database and determine which customers they do not want to monitor and easily add customers from their past client database
- Receive higher quality notification
Frequently Asked Questions
Yes. All accounts can be billed together to whoever the client would like.
Notifications will be returned for mortgage inquiries only as it relates to MA, even if the consumer has chosen to opt out.
Alerts are delivered within a 24 hour or less period. Some alerts may appear the next business day if mortgage transactions were completed after the closing of financial institutions.
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- Your Corporate Account Manager will need the MA Onboarding packet to be completed and returned along with the full list of members to be monitored.
- You will be provided a spreadsheet with the required information to return with your MA Onboarding materials.
- The sooner this information is returned, the faster you will experience the advantages of MA.
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Yes. This letter is customizable but must be submitted to the MA team during the onboarding process for any updates you desire and approval.
- Yes. Per the FCRA, a firm offer of credit is always required to use MA unless the member has an open loan that is still being serviced by the lender using the product.
- For additional information, please reference Appendix B of the Monitoring Advantage Terms and Conditions.
You always have the option to select a different package at any time, just notify your account manager.
This functionality is not currently available.
Notifications are delievered to the Loan Officer (or whomever you have selected to receive these on your behalf).
You may reach out to your account manager or the MA fulfillment team directly for credentialing assistance.
Monitoring can be turned off within the business day by reaching out to the Fulfillment team.
I was not provided pricing during my MA demo. How do I obtain pricing information before signing up?
Your Corporate Account Manager will discuss pricing with you after the close of your MA demo and will also provide specific details within your MA Onboarding materials.
The Fulfillment team will reach out via email to provide you with a welcome letter confirming MA is now live for your accounts. Alerts will then be sent as received until the service is disabled for specific members.
MA invoices will be delivered along with your monthly ACI bill or as a separate monthly invoice if you prefer.
While we hope you see the benefit of MA and plan to use it for longevity, we do understand business needs and are happy to share there is no required sign up or non-cancellation period.
We are proud to share there are no startup fees or monthly subscription fees associated with the MA product.
ACI will need the client’s Trigger Suppression Code and Company Short Name for Transunion. An internal update will be required for the client to gain appropriate access.
Testimonials
“Our numbers with the Monitoring Advantage program have helped us close an additional 10 loans in the past six months totaling $1.5M in volume. The numbers are great and we are starting to see more of the leads converting into closed loans. Thanks!”
– Kelly Isensee, Greater Nevada Mortgage
“V.I.P. Mortgage, Inc. continues to support our loan officers increase their business and stay connected with their Clients. Monitoring Advantage has been a very successful program for our company. We have closed over $3 million dollars in sales just in the last 2 months because of the monitoring advantage program. Thank you Advantage Credit! We look forward to many more months of success!”
– Caren Bailey, V.I.P. Mortgage, Inc.