Black Knight Inc. has launched CompassCapture, a tool designed to help lenders identify loans in their portfolios or books of leads that could benefit from a refinance based upon equity positions and/or current first-lien rates.
When such loans are identified, CompassCapture uses a lender’s current pricing to deliver multiple personalized pricing scenarios via the CompassPPE pricing engine.
“Growing and retaining loans are crucial to remaining competitive in today’s market,” says Rich Gagliano, president, Black Knight Origination Technologies. “Rather than reaching out to customers and leads en masse with a generic ‘rates are low, you should consider refinancing’ message, CompassCapture lets lenders use a borrower’s specific attributes and the most up-to-date pricing information to offer a truly personalized option, which greatly increases the chance of recapturing that customer’s business.”
CompassCapture constantly monitors a lender’s portfolio and lead database to help lenders determine the appropriate time to reach out to a borrower based on lender, rate environment and other market triggers. Using up-to-date home price data on a customer’s specific property, CompassCapture helps lenders target leads for equity offers, such as cash-out refinances or home equity lines of credit (HELOCs). Data can be delivered directly into the lender’s customer relationship management system to alert loan officers to the exact moment a borrower should be contacted for a rate-driven or equity-driven opportunity.
