Approximately 34% of all denied mortgage applications are due to poor credit scores. For loan officers, nurturing, educating, and re-engaging denied borrowers presents a significant challenge, and gaps in the engagement loop often result in missed opportunities—something that most lenders can’t afford under current market conditions. If this scenario sounds familiar, it’s because it has been the reality for too many financial institutions for too long. The challenge isn’t that they lack the data to identify denied borrowers; they just lack a reliable solution to surface that data when and where it’s most useful. The time and cost of manual reporting make it impractical for regular use at scale. Then there’s the challenge of putting that information in the hands of the right people—and hoping they know what to do with it.
But there’s good news. Loan officers can proactively manage their existing customer database, help their clients address creditworthiness, and inform them when their chances of approval have increased. Total Expert Customer Intelligence seamlessly combines a system of intelligence with a system of action to reshape how lenders navigate the complexities of engaging denied borrowers and drive additional opportunities using Credit Improvement alerts.
Total Expert empowers loan officers to easily track and communicate with clients who have credit challenges by setting a minimum threshold for credit approval. When a contact reaches this threshold, the loan officer receives an automated alert, and the contact is simultaneously added to a re-engagement Journey that prompts them to reapply for a mortgage.
System of intelligence + system of action
Credit Improvement Alerts transform raw data into actionable insights, allowing lenders and loan officers to pinpoint credit-related challenges faced by borrowers and create a strategy to nurture those contacts until they reach the minimum credit approval threshold.
By aggregating the latest financial data—including credit profiles—we’ll help you create holistic customer profiles and enable your teams to deliver personalized communications that facilitate authentic, impactful engagement throughout a borrower’s credit improvement journey.
The Credit Improvement feature within Total Expert Customer Intelligence is a game-changer for loan officers—and their clients. It addresses a critical issue in the mortgage application process (denied applications due to poor credit scores) and provides a path forward for borrowers and lenders. By actively supporting clients through the credit improvement process, financial institutions will build the trust and loyalty that helps retain customers who would otherwise be lost. This innovation isn’t just about numbers; it’s about helping people achieve their homeownership dreams.