Business, Free News Articles

Mortgage Coach adds debt consolidation strategies in Total Cost Analysis to educate consumers on finance options using home equity

CORONA, Calif. -- Mortgage Coach, the only platform enabling mortgage lenders to create digital and accurate home loan options for consumers, today announced its addition of detailed debt consolidation strategies in the Total Cost Analysis (TCA) presentation, allowing loan originators to educate consumers on lower interest debt repayment options as peaking home equity values offer household cashflow relief.

According to Q1 data from the Federal Reserve, there is $21 trillion in U.S. home equity and about $4.6 trillion in non-mortgage consumer debt such as credit cards, auto loans and college loans, with revolving and student debt having risen during the period of pandemic job loss. At the same time, mortgage rates remain at historic lows.

Mortgage lenders use the Mortgage Coach platform nationwide to create millions of multi-option loan comparisons annually. Each personalized TCA presentation is delivered to the borrower via digital link by way of email or text, offering the borrower a custom digital experience and an opportunity to make a thoroughly informed decision on their home loan. The added Mortgage Coach debt consolidation illustrations enable loan originators to easily review detailed consolidation scenarios within a borrower's Total Cost Analysis presentation, including comparisons between a mortgage without debt consolidation, a mortgage consolidating all consumer liabilities, and a mortgage with partial debt consolidation, offering both short- and long-term views of interest savings and cashflow impact.

"One of the more powerful items in a Mortgage Coach debt consolidation strategy is showing the borrower alternatives for how to apply funds they'd otherwise be spending on debts," said Finance of America President Bill Dallas. "Using Mortgage Coach to present a debt consolidation strategy supports our commitment to helping people make informed decisions about borrowing and their most important life purchases."

Mortgage lenders currently using Mortgage Coach will find its easy-to-understand debt consolidation strategies intuitive for their borrowers from its clearly labeled call-out position on the Total Cost Analysis summary.

From the debt consolidation call-out short-term tab, the borrower has a view into interest savings by consolidating debt based on selected time parameters and can drill into how costs such as mortgage insurance have been calculated via informational windows on each strategy, allowing comparison of the total cost of each option against each other and net savings for those new options.

In the long-term section, lenders can change metrics for any time horizon aligning with borrower goals such as planning for children's college in five years, planning retirement in 15 years, or other life event planning allowing borrowers to align their goals with metrics meaningful to their particular financial needs.

"We are pleased to unveil this innovation at a time when rising home equity offers many borrowers relief from high-interest consumer debt or lingering student debt," said Mortgage Coach President Joseph Puthur. "Any lender and borrower can now easily explore refinance options leveraging home equity strategies to pay off consumer debt at historically low rates, while maintaining a manageable mortgage. Understanding how best to put home equity to use is simple and accurate for anyone with this addition to our Total Cost Analysis."

About Mortgage Coach

Mortgage Coach is the only platform that allows mortgage lenders to create digital and accurate home loan comparisons for consumers. With the Total Cost Analysis presentation, lenders can create a multi-option comparison, offering the borrower a more personalized digital experience. This level of transparency has revolutionized the rate quoting and pricing process allowing borrowers to make faster, more informed mortgage decisions and ultimately, increase production and pipeline conversion for lenders of any size. For more information on how to start using borrower education as a competitive advantage, please visit

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Business, Free News Articles, Software

SimpleNexus and Mortgage Coach expand integration with real-time data syncing for instant analysis of lifetime loan costs

LEHI, Utah -- SimpleNexus (, developer of the leading digital mortgage platform for loan officers, borrowers and real estate agents, has expanded its integration with Mortgage Coach (, making it easier than ever for loan originators to give borrowers the clear, accurate comparison of loan products and scenarios needed to make informed mortgage decisions.

With the integration of SimpleNexus and the Mortgage Coach Total Cost Analysis (TCA), every borrower who applies for a mortgage loan using the SimpleNexus digital mortgage app immediately receives a TCA. A recent update to the integration enhances the borrower experience by updating key loan information in real time and enabling loan professionals to incorporate video narration into TCAs from within the SimpleNexus app. As applicants progress through the origination process, the accurate analysis adjusts instantly, allowing loan professionals to provide clear advice faster and measurably convert more leads into loans.

Loan originators at Strongsville, Ohio-based Union Home Mortgage have seen faster commitments and more complete loan applications with the combined solution, having delivered 20,000 personalized Mortgage Coach TCA presentations in the last 90 days alone with the new automation.

"Originators need to give people options, but creating manual comparisons for every loan applicant is impractical," said Union Home CIO Mark Langhans. "We love the way Mortgage Coach frames up cost analysis in an easy-to-consume format that originators can walk borrowers through in minutes - and the integration with SimpleNexus makes it even easier for us to leverage this powerful strategy. Even more telling than the number of presentations delivered is the number of borrower views and shares those TCAs have received."

"What's special about this integration is that it starts a conversation that frequently brings a close to the borrower's rate shopping," said SimpleNexus CEO Matt Hansen. "It's all about building trust, re-engaging and ultimately converting customers who have started a loan application but might not otherwise finish it."

"Lenders serve borrowers best - and simultaneously enjoy the highest profitability - when they put a wide array of loan products, services and scenarios in front of every applicable customer," explained Mortgage Coach President Joe Puthur. "The Mortgage Coach Total Cost Analysis helps lenders make financing available to more borrowers while addressing key compliance concerns, reducing pricing exceptions and closing more deals - all with the personalized touch that is critical to brand consistency."

The new innovation, announced today, makes easy-to-understand loan comparisons available for every borrower. Together, Mortgage Coach and SimpleNexus help loan originators position themselves as trusted financial advisors in any client situation. For example, the dynamic TCA helps borrowers understand the impacts of renting versus owning, buying now versus waiting or adjusting the size of their down payment. The now fully integrated experience supports any mortgage scenario, resulting in faster borrower conversion, increased production and enhanced profitability.

About SimpleNexus, LLC:

SimpleNexus is the digital mortgage platform that enables lenders to originate and process loans from anywhere. The company's best-in-class, easy-to-use app connects loan officers to their borrowers and real estate agents to easily communicate and exchange data in a single location throughout the entire loan life cycle. Loan officers can manage their loan pipelines, order credit, run pricing and send pre-approvals - all on the go.

About Mortgage Coach:

The Mortgage Coach suite of enterprise online and mobile applications enhance the conversation between the borrower, mortgage professional, and Realtor, enabling a confident mortgage decision. Thousands of banks and lenders rely on Mortgage Coach to turn borrower education into a competitive advantage. With Mortgage Coach technology, financial and real estate professionals provide clearly illustrated mortgage options with detailed financials, charts, video narration, and live updates on any device, ensuring an informed home loan choice. Learn more about how to add the power of Mortgage Coach to your lending platform by visiting or contacting

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