University Bank, which lends nationwide through conventional, faith-based, first mortgage, HELOC and reverse channels, has selected Ardley Technologies to drive its portfolio retention strategy.
Specifically, University Bank is using Ardley’s Actionable Data Intelligence (ADI) platform to identify borrowers who represent new opportunities.
Portfolio retention is a major concern for mortgage servicers in any market, but as rates fall, servicers’ attrition risk increases, and their retention efforts become even more important to their profitability.
“Portfolio retention is an important focus for us and we needed a high-ROI solution that consistently produces quality results,” says Stephen Lange Ranzini, president and CEO of University Bank, in a release. “Ardley identifies the borrowers that can benefit from the exact programs and rates we offer and reaches out to them in a way that spurs them to take action. It only takes seconds, and we can run it every time rates drop. This is the exact solution we need.”
Ardley’s Actionable Data Intelligence platform parses hundreds of thousands to millions of borrower profiles in a servicer’s portfolio and matches that data against dozens of loan programs offered by the servicer, such as conventional loans, portfolio products, HELOCs, and virtually any other program.
Once the borrower is matched to one or more loan programs, Ardley automatically reaches out via a friendly, easy-to-read email that showcases the options currently available to the borrower.
The borrower can then click through, via Ardley’s Navigator feature, a borrower transparency tool that helps borrowers understand all loan programs they are eligible for. When the borrower is ready to move forward, Autopilot, Ardley’s automatic underwriting tool, guides the process and, if applicable, issues instant conditional loan approvals.
“We created Ardley so that forward thinking companies like University Bank can gain proactive control over their servicing portfolios,” says Nathan Den Herder, CEO of Ardley Technologies. “The entire Ardley team is excited to empower University Bank to unlock the new origination opportunities hiding in their servicing portfolio, the moment they become eligible.”