Mortgage Coach, creator of a comprehensive point-of-sale borrower conversion software for the mortgage industry, announced a new innovation with Optimal Blue, a leading provider of secondary marketing automation in the mortgage industry. Through direct integration with Optimal Blue’s robust API platform, every Mortgage Coach application now connects real-time, compliant product and pricing data with the financial analyses Mortgage Coach is known for, the company said in a release.
Through this collaborative effort and newly expanded product offering, Mortgage Coach and Optimal Blue enhance their long-standing strategic partnership and improve their industry value proposition.
“Without ever leaving the Mortgage Coach app on their mobile device, loan officers can create informative, side-by-side comparisons highlighting multiple loan programs and comprehensive pricing information in just seconds,” explained Bob Brandt, Vice President of Marketing & Strategic Alliances for Optimal Blue. “Combining the sophisticated product and pricing data at the heart of every mortgage transaction with a compelling user experience — and doing so whenever, wherever it matters most — is a game changer for the industry.”
The benefits, according to the release, are not exclusive to lenders and loan officers as today’s consumers immerse themselves with the details behind major financial decisions and pride themselves on deeply understanding their alternatives. Mortgage financing is no exception. When provided with a comparative, in-depth analysis of the financial impact of their best financing alternatives in a highly consultative environment, consumers are more engaged with their loan officers and more likely to move forward with a loan.
“In today’s price compression marketplace, converting every prospect into a borrower is the most important aspect of achieving increased profits for mortgage lenders,” Mortgage Coach President Joe Puthur said in the release. “This new innovation gives lenders the instantaneous benefit of earning more commitments at a lower cost of acquisition.”
Mortgage Coach is the technology behind the Total Cost Analysis (TCA), a report that illustrates the long-and short-term impact of any loan program on the borrower’s financial situation. The TCA incorporates real time rates, fees, closing costs and program information and presents its findings using simple yet powerful graphical elements like charts and graphs. The TCA provides a level of clarity that is virtually impossible to achieve without the Mortgage Coach platform, the company asserts.
“The difference between using a TCA to explain mortgage options and using any other method is like the difference between having a film described to you versus watching it in high definition with Dolby sound,” Churchill Mortgage President Mike Hardwick said. “Having been in partnership with Mortgage Coach and Optimal Blue for several years now, we’re happy to have helped thousands of borrowers make a better, more informed decision. These new capabilities will provide greater clarity, transparency, and confidence to any borrower – in a way that is faster for every loan professional.”