TheMReport — News and strategies for the evolving mortgage marketplace.
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6 | M R EP O RT and CEO Jeff Bode said. "With our SmartBuy program, TPOs can meet their borrowers where they are today and create a loan program that helps them meet their goals." SmartBuy is the latest in a series of unique loan products developed by Click n' Close to help consumers and third-party originators (TPOs) address the challenges of today's market. Other innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program, and eNote program for non-delegated correspondents. "For example, TPOs can com- bine a seller-funded 2/1 buydown with SmartBuy for more cash- conscious borrowers, allowing them to secure a lower interest rate today, minimize their cash- to-close and postpone the rate reduction repayment to a later date. However, SmartBuy also of- fers a permanent buydown option that enables borrowers to qualify for a lower interest rate over the full life of the loan and maximize their long-term savings," Bode added. "Whether it is minimiz- ing their cash-to-close, materially lowering their monthly payments or simply securing the lowest rate possible today, SmartBuy provides multiple options to help borrow- ers achieve their short- and long- term homeownership goals." Click 'n' Close Inc., formerly known as Mid-America Mortgage, is a multistate mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is a provider of Section 184 home loans for Native Americans. Educating Today's Mortgage Borrower POLLY'S PPE INTEGRATES WITH MORTGAGE COACH S ales Boomerang, an automated borrower intelligence and retention system, and Mortgage Coach, a platform empowering mortgage lenders to educate borrow- ers with interactive home loan presentations, has announced a new integration between Mort- gage Coach and Polly, a provid- er of innovative SaaS technology for the mortgage capital markets space. The seamless API integra- tion feeds real-time data from Polly's sophisticated, cloud-na- tive Product and Pricing Engine (PPE) into Mortgage Coach Total Cost Analysis (TCA) presentations, enabling highly accurate, side-by-side home loan comparisons that give borrowers the confidence to move forward with the financial products that best meet their needs. "Our partnership with Mortgage Coach spans the better part of a decade, during which time we have used TCAs to help tens of thousands of borrow- ers make more informed home loan decisions," explained the President/CEO of a well-known mortgage lender originating upwards of $4.5 billion in an- nual volume. "This integration is a huge win, because it lets us combine the benefits of Polly's high-performance, ultra-modern PPE and lock desk automation with a beloved borrower conver- sion tool our loan officers have come to depend on." Sales Boomerang and Mortgage Coach merged in June to form a Borrower Intelligence Platform (BIP). By combining actionable, real-time borrower intelligence with interactive TCA presenta- tions, Sales Boomerang and Mortgage Coach seek to empower mortgage advisors to reach out to prospective borrowers at exactly the right time and walk them through rich loan comparisons that span the lender's full breadth of product offerings and consider each scenario's impact on both short-term monthly cash flow and long-term net worth. "The integration of real-time product and pricing data from Polly ensures our Mortgage Coach TCA presentations are not only compelling, but also highly ac- curate and actionable, allowing us to lock in borrower commit- ments with absolute confidence that we've got the right customer in the right loan," said the VP of Lending of another prominent lender with an annual origina- tion volume of more than $2.6 billion. "Any mortgage lender that is evaluating its pricing engine options should factor the pow- erful combination of Polly and Mortgage Coach into its calculus." Founded in 2019, Polly has gained traction with originators and investors alike at an astound- ing pace—and attracted more than $50 million in venture-capital funding—for breathing new life into the mortgage capital markets industry through innovation. Polly's end-to-end capital markets toolset features a modern, cloud- native PPE that offers lenders of all sizes greater speed, accuracy, and configurability across all loan pricing and lock processes, as well as a robust loan trading exchange and comprehensive analytics platform. "Lenders invest significant time and money into building diverse portfolios of loan prod- ucts designed to meet borrowers' unique needs, yet those products often sit underutilized," Mortgage Coach and Sales Boomerang Chief Lending Officer Joe Puthur said. "Piping Polly's precise product and pricing data into engaging, data-rich Mortgage Coach TCA presentations solves that problem by making it not only possible, but easy for mortgage advisors to present a wider array of financial solutions to every borrower, every time." Adam Carmel, Founder and CEO of Polly, added, "Polly has taken the capital markets space by storm, enabling lenders to price and lock loans with unprecedent- ed speed and flexibility. Now, lenders can merge the benefits of our high-performance PPE with Mortgage Coach's ability to multiply borrower conver- sion. And stay tuned; there is much more to come from Polly's partnership with Mortgage Coach. Early adopters of the integration are already gaining a significant competitive advantage, and with further enhancements to our API connections already in the works, they will only see that edge sharpen." MTECH "Lenders invest significant time and money into building diverse portfolios of loan products designed to meet borrowers' unique needs, yet those products often sit underutilized." —Joe Puthur, Chief Lending Officer, Sales Boomerang