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Offer higher quality loans
You know the drill: Interest rates go down and you lose customers as they refinance.
Each time you write a new loan to replace it, you incur hefty transaction costs.
With the HarmonyLoan, the loan officer is incentivized to reset the interest rate
for the customer, greatly increasing the chances your customer will remain your
customer. And wiping out ongoing transaction costs.
Improve customer lifetime value
The longer you keep a mortgage customer, the more opportunity you have to build
a relationship and serve their other financial needs. The average life of a mortgage
today is two to three years. Our data suggest the average customer will stay in
a HarmonyLoan for at least six to nine years.
Retain loan officers
Loan officers tend to build sustainable relationships with customers. Not with banks.
When a loan officer sells a HarmonyLoan, he or she is paid a commission up front,
but also receives an annual commission to manage the loan and keep interest rates
current. Finally, loan officers have a reason to stick with you.
To learn more about how we work with our bank partners, click
here.
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