Uplist launches an automated refi analysis tool
Mortgage technology company Uplist has launched what it says is a great new tool that allows loan officers to automatically generate refinancing options for their customers.
The technology, called ‘Recapture’, is integrated with leading pricing engines and provides LOs with timely, accurate data that identifies multiple refi opportunities for customers.
Unlike other “rate alerts” in the industry, Uplist’s product completely automates the entire refinance analysis process. This includes property ownership checks, automated valuation models (AVMs), loan repayment and financial benefit calculations.
If it is directly integrated into the product pricing engine (PPES), such as Optimal Blue‘s or Polly‘s — LOs are notified when favorable refinancing opportunities arise for customers.
The tool also models potential savings for homeowners by analyzing different interest rates, closing costs and repayment options. Recapture also builds the borrower presentation and writes a custom email, allowing LOs to engage customers with personalized refinancing options quickly and more quickly than other rate alert tools.
Loan officers may also make concessions offered by the lender that will change pricing. And they can sort their businesses by the highest interest rates, identifying past customers who could benefit through quick analysis.
Sales leaders and executives can use the system to determine which LOs are using the product to find references in their books, says Jeff Bell, Uplist’s founder and CEO.
“They see every loan officer in the company using it,” Bell said. “They see how many loans they’ve uploaded into our system, how many opportunities are identified, what the dollar volume of that is, and do they log in to actually use it?
“So if an LO complains about their volume, they can go in and say, ‘Well, you haven’t been here since the 7th and I see there’s $15 million in opportunity.’ You say, ‘What are you doing?’
Uplist focuses its product on the private mortgage market, but it is also available for external clients.
“Our goal is to provide loan officers with the ability to perform a complete refinancing evaluation and give homeowners an easy-to-read presentation at the touch of a button,” Bell said in a statement. “With Recapture, mortgage professionals can drive more business growth, maximizing opportunities within their closed loan pipeline.”
