Philadelphia-based private-equity firm LLR Partners has made strategic investments in Sales Boomerang, a provider of automated borrower intelligence and retention software for lenders, and Mortgage Coach, a borrower conversion platform empowering lenders to educate borrowers with interactive presentations that model home loan performance over time.
Sales Boomerang and Mortgage Coach will maintain their existing brands and teams.
The transactions will support product enhancements designed to make both companies’ widely used technologies even more valuable to lenders. Go-forward initiatives include support for a wider range of financial products and lending institutions and a tighter integration between Sales Boomerang and Mortgage Coach.
Sales Boomerang monitors contact databases on behalf of lenders to identify when a prospect or past customer is ready and credit-qualified for a new loan. By combining market intelligence such as interest rate changes, improved credit scores and home listings with mortgage lenders’ credit underwriting preferences, Sales Boomerang notifies lenders of real-time, actionable loan opportunities, resulting in higher mortgage loan officer productivity, increased new loan originations and improved existing borrower retention.
Mortgage Coach helps lenders convert more leads to borrowers with interactive Total Cost Analysis (TCA) presentations that model the costs and benefits of mortgage loans over time. The company’s technology is used by lenders to compliantly deliver on-brand, consultative lending solutions at scale and improve borrower conversion.
“Together, Sales Boomerang and Mortgage Coach enable lenders to deliver data-driven advice to borrowers, creating immediate sales influence before a borrower begins shopping for a new loan,” says Alex Kutsishin, CEO of Sales Boomerang, in a release. “Our strongly aligned missions, and now shared investor, provide both organizations the resources to deliver technology solutions that mortgage lenders cannot succeed without as the industry shifts to automated origination processes.”
“LLR recognizes that empowering borrowers with home finance education represents one of the best opportunities for lenders to increase volume, improve transparency and place innovative new loan options,” adds Dave Savage, CEO of Mortgage Coach. “This investment from LLR, combined with an enhanced data partnership with Sales Boomerang, will help enable both businesses to scale more rapidly and strengthen our position as trusted platforms for our customers.”
Image: Jonny Gios