How Financial Services (Mortgage) Companies Could Leverage Olerti Solution

Current Trend & Mortgage Companies

Mortgage companies face many challenges today that have been intensified by fierce online competition, fluctuations in the real estate market and the economy overall. Companies seeking to separate themselves from their competitors will need to learn to take advantage of new technologies. Olerti, a fully-featured consumer price alert application, is an innovative new technology that can give these companies an edge.

The Challenge: Common Problems Faced by Mortgage Companies

Mortgage lending can be extremely competitive and it isn't helped by the fact that mortgage rates can change multiple times a day. There are many consumers who will initiate contact with a mortgage lender when they are not truly prepared to purchase and many consumers will initiate contact with many companies at the same time.

Mortgages are considered a big financial step by many consumers. They may not be completely sold on the idea of a mortgage.
Consumers may initiate contact without a true intent to purchase. While this exists in all industries, it is far more ubiquitous in lending.
Market fluctuations in price may make it difficult to pin down the consumer while remaining profitable.
consumers are encouraged to fill out applications with many mortgage companies and they are taught to look solely at the bottom line.

The Solution: Tag the Mortgage APR Rate and Set Rate Alerts

Mortgage companies can combat many of their major consumer acquisition issues through Tag the Price's alert system. Through Tag the Price, consumers can set rate alerts; once their rate is met, they will be sent an alert and can then log in to complete their mortgage application.

Olerti gives the consumer a feeling of control. The consumer decides at what price a mortgage would be worthwhile to them and then is told exactly when this condition is met. Furthermore, by allowing consumers to set the rates that they would truly be interested in, you lessen the chances of contact by consumers who are not interested in your current rates.

Olerti also gives mortgage companies the increased ability to leverage rate changes in a timely fashion. A mortgage rate may shift downward for as little as a day. By alerting your consumers to this rate change, you can secure them while the rates are still in effect. Consumers can also easily become inundated with information from dozens of lenders; by sending your consumer an alert when you have the rate they want, you separate yourself from the pack.

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