CI Spotlight: Keep Deals Flowing in Any Market with Credit Inquiry Alerts

No matter the market conditions, you have the potential to capture more business from your existing contact database than you may realize. One of the quickest ways to expose the many lending opportunities hiding in your database is using credit inquiry alerts included with Customer Intelligence from Total Expert.

A credit check is a definite sign that someone is serious about buying a house or refinancing an existing loan. If your loan officers receive automatic alerts the moment competing banks or lenders pull the credit on one of your existing database contacts, they recoup an invaluable, timely opportunity to recapture those known borrowers by offering them a better product, a better rate, or better terms—before it’s too late.

And you give your business a chance to grow its funded loan volume by thousands or millions of dollars every month.

That’s exactly the kind of big business benefit Total Expert’s Customer Intelligence credit inquiry alerts give you.

Take Prosperity Home Mortgage, LLC. During Q4 2022—an extremely challenging quarter all-around for lenders—Customer Intelligence proactively alerted Prosperity loan officers to 3,115 database contacts whose Equifax credit was pulled by competing lenders, then initiated automated digital communications promoting the Prosperity products and services of most interest to them.  Through a combination of digital and human outreach to these contacts, Prosperity funded an additional $18 million in loans during that quarter alone—opportunities the lender may never have known about if it hadn’t been using Customer Intelligence.

During the same three-month timeframe, Customer Intelligence also proactively alerted loan officers at one branch of a top 10 national lender to 705 database contacts whose Equifax credit was pulled by competing lenders, then initiated the same kind of automated digital communications with them. That lender funded an additional $13 million in loans during Q4—again, revenue that came from opportunities it may never have learned about if not for Customer Intelligence. 

These Total Expert customers have already discovered the powerful, ongoing, positive impact credit inquiry alerts can have on their businesses. Discover the impact Customer Intelligence can have on your business with our handy CI ROI calculator.

Watch for other upcoming blogs in this “Customer Intelligence (CI) Spotlight” series, where we’ll dive deeper into how our Customer Intelligence works and how it helps real Total Expert customers drive millions of dollars in additional loan volume.