Staircase, a company building an integrated, digital infrastructure to accelerate tech-enabled mortgages, has unveiled Leads Curation, a new feature of the company’s PreApproval tool that helps mortgage originators target specific borrowers to meet their goals and capture more business.
“Right now, many originators are under pressure to find high quality leads,” said Staircase Co-founder and CEO Adam Kalamchi. “Leads Curation gives originators the best possible opportunity to turn a $20 lead into a closed loan. It also provides a competitive edge in today’s tough market while delivering a better borrower experience, which increases the chances of creating a customer for life.”
Staircase’s PreApproval provides lenders with a template they can use to create a customized, white-labeled, web- and mobile-enabled pre-approval application process for their borrowers in just 30 minutes. The cost of using the new Leads Curation feature is just $50 per loan application.
By leveraging data collected from borrowers as they self-qualify using automated verification services, Leads Curation empowers originators to immediately determine whether a borrower meets specific underwriting criteria so they can engage borrowers and close loans faster. Leads Curation also enables lenders to home in on specific groups such as borrowers whose data comes from vendors approved by Fannie’s Day 1 Certainty program. Additionally, Leads Curation can help lenders meet federal Community Reinvestment Act (CRA) requirements by automatically identifying borrowers who have less than 80% of the median income in their market.
Lenders can use Leads Curation to prioritize prospective borrowers in real time while they are actively filling out online applications and dynamically optimize whether to spend on borrower verification services. When verifications are needed, Leads Curation leverages Staircase’s application programming Interfaces (APIs) to generate accurate results and high success rates for automated, fast, and cost-effective borrower verifications. Staircase’s APIs deliver the highest coverage in the market for employment, income, credit, taxes, assets and identity verifications in a simple, dynamic interface.
Lenders can also create different questions for borrowers to establish a much higher understanding of the borrower’s intent and A/B test daily to find the optimal question sequences. The lender then can send certain leads to highly trained specialists depending on the type of loan a borrower needs. Leads Curation drops a borrower’s data right into the lender’s customer relationship management (CRM), point of sale (POS), and loan origination system (LOS) platforms for faster pull through times.
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