Aug, 01
2023
Awards and Honors, Business, Free News Articles

HousingWire honors TrustEngine Vice President Rachel Cunningham as a 2023 Women of Influence

ELLICOTT CITY, Md. -- TrustEngine™, a provider of data-driven homebuyer engagement and education solutions for lenders, today announced Vice President of Customer Success Rachel Cunningham has been named a HousingWire 2023 Women of Influence award honoree. The Women of Influence awards program recognizes the achievements of women who are shaping the U.S. housing economy.

Cunningham was recognized for making an outstanding impact on TrustEngine and its lender clients during her multi-year tenure leading customer success at the company. During the merger of Sales Boomerang and Mortgage Coach, now TrustEngine, Cunningham restructured customer success into three divisions to better serve clients under a unified brand. Her enhancements to the company's onboarding procedures greatly accelerated implementation timelines and her coaching of the customer success team to take on an advisory approach to account management led TrustEngine to exceed retention targets. Under Cunningham's leadership, TrustEngine has achieved a 98% customer satisfaction score.

As interest rates began to rise, Cunningham took proactive measures to both support lenders through a steep drop in volume as well as prevent client churn. Guided by empathy, Cunningham consulted with clients to optimize their service plans for the new market. Also, with many clients undergoing mergers and acquisitions themselves, Cunningham developed special procedures to support unique contractual changes and onboarding scenarios.

"Rachel has proven herself to be a highly adept leader who uplifts her team, organization and lenders at every turn," said TrustEngine CEO Richard Harris. "I commend all that she has accomplished and her unwavering dedication to ensuring clients have the resources and know-how to build revenue with TrustEngine's tools, no matter the mortgage market."

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions. The TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions, and ongoing performance evaluation and optimization. The result is a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement. For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com/.

Related link: https://www.trustengine.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jul, 26
2023
Business, Free News Articles, Reports and Studies

TrustEngine releases Q2 2023 Mortgage Market Opportunities Report

ELLICOTT CITY, Md. -- TrustEngine(TM), a provider of data-driven homebuyer engagement and education solutions for lenders, today announced the release of its latest Mortgage Market Opportunities Report analyzing trends in the frequency of different types of mortgage opportunity alerts through June 2023.

TrustEngine Chief Visionary Officer Alex Kutsishin summarized three top takeaways for mortgage lenders from this quarter's report::

* TODAY'S SELLERS ARE TOMORROW'S HOMEBUYERS

New Listing Alerts from existing mortgage customers jumped 26.23% quarter-over-quarter, signaling opportunity on the horizon for purchase-focused lenders at a time when the median existing-home sales price of $410,200 is within spitting-distance of its all-time high. But with housing inventory as tight as it is, where will these home sellers go? Real estate agents are in desperate need of lenders who can execute on strategies like these. Armed with TrustEngine's Mortgage Coach Advice Engine, loan officers can bring creative home financing options to life in visual presentations that speed borrower understanding and commitment.

* CONSUMERS ARE EAGER TO GET A HANDLE ON THEIR DEBTS

Risk and Retention Alerts are down for a second consecutive quarter, echoing a macroeconomic trend of decelerating credit card debt growth as consumers try to rein in average household credit card debt of over $5,000 and total household debt of more than $100,000. Cashing out home equity to pay off higher-interest debts remains one of today's most compelling use cases for a refinance - but do consumers still have equity to tap? While Equity Alerts fell in Q2 (down 67.79%), context is key. According to ATTOM, the overall portion of equity-rich homes (properties with loan balances less than or equal to 50% of their market value) is still about twice as high as it was three years ago, meaning almost half of homeowners still have considerable untapped wealth in their properties.

* RATES ARE LOOKING A LITTLE FRIENDLIER

While Rate Alerts and Rate-and-Term Alerts accounted for a relatively small fraction of total opportunities in Q2, their frequency increased significantly on a quarter-over-quarter basis as mortgage rates skirted just shy of 7% throughout Q2. After months of uncertainty in the analyst community, consensus opinion now calls for interest rates to drop back below 6% sometime next year - so the frequency of rate-related opportunity alerts should only continue to increase in the coming quarters.

"In a market this competitive, lenders can't afford a scattershot marketing strategy. They have to use data to zero in on the opportunities with the greatest chance of converting, and that's a moving target that changes month to month and quarter to quarter," said Kutsishin. "TrustEngine's Mortgage Market Opportunities Report shows lenders where to focus their customer outreach and salesforce skills training right now, and this quarter, there's an exciting opportunity to help existing homeowners - customers with whom lenders already have a relationship - who are putting themselves in the market for their next home."

Each quarter the Mortgage Market Opportunities Report identifies the market opportunities of relevance to U.S. lenders and borrowers based on alert data from more than 150 residential mortgage lenders. Much more detail on Q2's alert activity can be found in the full TrustEngine Mortgage Market Opportunities Report.

*Analysis provided for informational purposes only. The data represented in the Mortgage Market Opportunities report is historical. Past performance is not a reliable indicator of future results. TrustEngine accepts no responsibility or liability for readers' use of the key findings or analysis included in this report.

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions. New in 2023, the TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions, and ongoing performance evaluation and optimization. The result is a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement. For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com.

Related link: https://www.trustengine.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Apr, 20
2023
Business, Free News Articles, Reports and Studies

Sales Boomerang releases Q1 2023 Mortgage Market Opportunities Report

OWINGS MILLS, Md. -- TrustEngine(TM), a provider of data-driven homebuyer engagement and education solutions for lenders, today announced the release of Sales Boomerang's latest Mortgage Market Opportunities Report. The Q1 2023 report indicates quarter-over-quarter improvements across all indicators of mortgage readiness, representing growth in mortgage lending opportunities.

Methodology

The Mortgage Market Opportunities Report draws on Sales Boomerang system data to identify market opportunities of relevance to today's borrowers and lenders. To generate the report, Sales Boomerang reviewed data from more than 150 residential mortgage lenders, a subset of its clients, that use its borrower intelligence and retention tools to monitor millions of customer and prospect records. Sales Boomerang then calculated and compared the aggregate frequency with which those contact records triggered loan-opportunity, prescriptive-scenario and risk-and-retention alerts during the fourth quarter of 2022 and the first quarter of 2023.

Key Findings**

Sales Boomerang's loan-opportunity alerts identify the contacts inside a lender's database who are actively shopping for a mortgage loan or who may be able to benefit from a new mortgage loan. Across the sample group, the frequency of each alert type in Q1 2023 was as follows:

* Mortgage Inquiry Alert: 2.10% of monitored contacts (up 32.91% from Q4)

A customer or prospect has shopped with a competitor in the last 24 hours.

* EPO Alert: 1.07% of monitored contacts (up 32.01% from Q4)

A customer or prospect whose loan closed ≤ 6 months ago has shopped with a competitor in the last 24 hours.

* Credit Improvement Alert: 4.73% of monitored contacts (up 18.25% from Q4)

A customer or prospect has improved their FICO score.

* New Listing Alert: 0.61% of monitored contacts (up 17.31% from Q4)

A customer or prospect has listed their home for sale.

* Equity Alert: 5.62% of monitored contacts (up 86.71% from Q4)

A customer or prospect's home equity has increased.

* Rate Alert: 0.10% of monitored contacts (up 92.00% from Q4)

The interest rate of a customer or prospect's existing mortgage is significantly higher than current prevailing rates.

Sales Boomerang's prescriptive-scenario alerts analyze not only whether a consumer could benefit from a given loan type, but also whether the consumer is credit-qualified to apply for financing. The frequency of each alert during Q1 2023 was as follows:

* Cash-Out Alert: 2.77% of monitored contacts (up 33.82% from Q4)

A borrower is credit qualified and has built sufficient equity to tap into the cash in their home.

* Rate-and-Term Alert: 0.11% of monitored contacts (up 120.00% from Q4)

A borrower is credit qualified and can benefit from the current interest rates for a refinance.

* FHA MI Removal Alert: 2.49% of monitored contacts (up 20.29% from Q4)

An FHA borrower has exceeded 20% equity and can remove mortgage insurance (MI).

For a subset of lenders that maintain servicing portfolios, the frequency of risk-and-retention alerts was as follows:

* Risk & Retention Alert: 36.84% of monitored contacts (down 15.23% from Q4)

A customer is engaging in one or more of 15 credit activities that may put their serviced loan at risk.

Analysis**

* Alerts went up across the board, indicating increased quarter-over-quarter loan opportunities with consumers who are actively engaged in the mortgage market as well as with consumers who may not yet realize they've recently become eligible for a mortgage based on available interest rates or improvements to their equity or credit positions.

* Risk and Retention Alerts trended down for the first time since Q2 of last year as the pace of month-over-month credit card debt growth eased slightly in February. However, with per-household consumer debt at an all-time high, there are still plenty of borrowers who could benefit from refinancing to pay off high-interest debts and improve monthly cash flow - a strategy that also benefits lenders by improving the overall health of servicing portfolios..

* For the first time in months, rate-related opportunities saw significant quarter-over-quarter improvement, reflecting a nearly 1% drop in the average 30-year fixed mortgage rate from its 20-year high of 7.08% in November 2022 to its Q1 2023 low of 6.09% in February. This is the first time the frequency of Rate alerts has increased since Q2 2021 and the first improvement for Rate-and-Term Alerts since Q4 2021.

* Equity Alerts, which indicate a borrower's property value has increased, rose substantially over the previous quarter, though they were triggered on a small share of contacts overall. When viewed alongside Zillow data showing a slight quarter-over-quarter decline in average national home value of 0.4%, the increase in Equity Alerts reflects how home value trends differ by market.

"The Q1 2023 MMO Report pulled the curtain on an outstanding variety of mortgage opportunities available to lenders ready to duck and weave with a fast-moving market," said TrustEngine Chief Marketing and Visionary Officer Alex Kutsishin. "Sales Boomerang continuously monitors customer and market data, alerting lenders when there is a chance to knock down financing obstacles for borrowers. Mortgage Coach helps lenders follow through with Total Cost Analysis presentations that map out the best path forward."

**Key findings and analysis provided for informational purposes only. The data represented in the Mortgage Market Opportunities report is historical. Past performance is not a reliable indicator of future results. Sales Boomerang accepts no responsibility or liability for readers' use of the key findings or analysis included in this report.

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions.

New in 2023, the TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions, and ongoing performance evaluation and optimization. The result is a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement. For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com/.

Related link: https://www.trustengine.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 02
2023
Awards and Honors, Business, Free News Articles

TrustEngine named to HousingWire’s 2023 Tech100 Mortgage list

OWINGS MILLS, Md. -- TrustEngine™, a provider of data-driven homebuyer engagement and education solutions for lenders, has been selected as a HousingWire (HW) 2023 Tech100 Mortgage Award winner. For 11 years, the HW Tech100 Awards have recognized the most innovative technology companies in the housing economy.

TrustEngine, formerly Sales Boomerang and Mortgage Coach, was recognized for its role in establishing a borrower intelligence platform (BIP) as a key component of the modern-day lender's mortgage tech stack. By far the most comprehensive BIP on the market today, the TrustEngine Borrower Intelligence Platform drives increased loan applications, customer loyalty and team performance by collecting, enhancing and analyzing borrower data; prescribing actionable borrower opportunities; pacing opportunity delivery; guiding compelling borrower and loan officer interactions that convert; and providing comprehensive performance measurement and refinement.

"By bringing world-class customer intelligence to the mortgage industry, TrustEngine is driving volume at a time when lenders need it most," said TrustEngine CEO Rich Harris. "We are honored to be named a HousingWire Tech100 winner and gratified to see borrower intelligence platforms recognized as a permanent and essential fixture in the modern mortgage tech stack."

Among its many features and capabilities, the TrustEngine Borrower Intelligence Platform was recognized by HousingWire for empowering lenders to understand borrowers more profoundly and engage them with offers they genuinely value. By analyzing billions of first- and third-party data points, TrustEngine can help mortgage loan originators understand borrowers' financial objectives, identify the loan products and scenarios best suited to advancing those objectives, and present that information to borrowers in a way that inspires swift action.

"As someone who had a front-row seat to watch the housing economy's tech transformation, I am increasingly in awe of the innovation we have seen from the Tech100 winners year after year," HW Media Editor in Chief Sarah Wheeler said. "With new technologies emerging every day, I am proud to be part of this exciting journey that has positioned the industry to be more efficient, more transparent and more accessible than ever before."

For more information about HousingWire's Tech100 Mortgage Awards and the full list of 2023 winners, visit https://www.housingwire.com.

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions. New in 2023, the TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions, and ongoing performance evaluation and optimization. The result is a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement. For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com.

Related link: https://www.trustengine.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Feb, 15
2023
Business, Free News Articles, Software

TrustEngine launches lending’s most comprehensive borrower intelligence platform (BIP)

OWINGS MILLS, Md. -- Sales Boomerang and Mortgage Coach today announced their union under the new name TrustEngine™, an identity that embodies the merged organization's vision to help lenders drive undeniable value as clients' trusted financial advisors. The name also reflects the brand's heritage as a trusted service provider to mortgage lenders for more than a quarter-century. The new name takes effect immediately and coincides with the beta release of the TrustEngine Borrower Intelligence Platform, a solution that wraps around the entire mortgage tech stack to drive volume by identifying loan opportunities and engagement strategies tailored to each borrower's needs.

Described by HousingWire as "the most essential addition to the mortgage tech stack since the advent of the loan origination system," borrower intelligence platforms (BIP) are rapidly gaining traction as a mandatory technology for modern mortgage lenders. By far the most comprehensive BIP on the market today, the TrustEngine Borrower Intelligence Platform drives increased loan applications, customer loyalty and team performance by collecting, enhancing and analyzing borrower data; prescribing actionable borrower opportunities; pacing opportunity delivery; guiding compelling borrower and loan officer interactions that convert; and providing comprehensive performance measurement and refinement.

"We are thrilled to debut our new name and our Borrower Intelligence Platform on the same day," said CEO Rich Harris. "This groundbreaking solution will help lenders become lifelong champions for borrowers by gaining access - for the first time in history - to the kind of world-class customer intelligence leveraged by global leaders like Apple, Microsoft and Amazon."

The TrustEngine Borrower Intelligence Platform goes beyond standard alerts and triggers, offering deep behavior analysis to generate granular borrower segments and predict mortgage loan needs, facilitating more relevant borrower outreach. And, unlike any other solution on the market today, the TrustEngine Borrower Intelligence Platform equips mortgage advisors with proven scripts and dynamically generated presentations that show borrowers their best loan options based on their unique financial situation, credit profile and life stage. Moving far beyond transactional offers, the platform prepares loan officers to have strategic discussions, transforming lenders from purveyors of price to providers of advice to drive more applications and close more loans.

Compatible with every lender tech stack, TrustEngine magnifies the value of existing loan origination systems (LOS), customer relationship management (CRM) platforms and marketing automation tools. Moreover, the TrustEngine Borrower Intelligence Platform automatically measures conversion at the branch and individual level across various loan types and borrower outreach strategies, driving continuous process improvement over the life of the platform. Learn how the TrustEngine Borrower Intelligence Platform can transform your business.

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions.

New in 2023, the TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions and ongoing performance evaluation and optimization to deliver a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement.

For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com/.

Related link: https://www.trustengine.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022