Uplist, a provider of borrower engagement and portfolio intelligence technology, reports that users of its Recapture refinance analysis and automation platform increased by 60% during the third quarter, as mortgage lenders gear up for a potentially strong refinance market.
What’s more, adoption of the refi automation platform is up more than 700% over the past year, the firm reports.
Recapture now tracks more than $100 billion in active loans and has identified $4.7 billion in refinance opportunities within the past 30 days alone.
Uplist also expanded its enterprise client base during the third quarter, adding Luminate Home Loans, Security Home Mortgage, Choice Mortgage, Kind Lending, USA Mortgage, Vellium, and NOVA, among others.
“Interest rates are expected to trend lower next year, and smart lenders and servicers are getting ahead of that curve now,” says Jeff Bell, founder and president for Uplist, in a release. “With Recapture, they can identify refi-ready borrowers, boost retention, and scale efficiently without adding to headcount. When volumes rise, the lenders who have automation already in place will be positioned to win.”