SALISBURY, Md. –Credit Plus, a provider of solutions for mortgage professionals, has announced the availability of its Lost Sales Analysis by Equifax, a new product that helps lenders gain a better understanding of the applicants they’ve lost, who they lost them to, and why, the company said.
It added the solution provides loan-level competitive intelligence that can help them maximize their marketing ROI while improving closing rates and customer retention.
“With the detailed data contained in the Lost Sales Analysis, lenders can determine if their applicants closed their loans with a competitor, monitor portfolio run-off trends, and assess pipeline fallout,” the company said.
The company said the specific output contained in the Lost Sales Analysis includes:
- Name of the lender associated with the lost sale
- Characteristics associated with the consumer’s new loan, such as the origination date and amount, loan type, estimated balance, purchase price, sale amount, and more
- Purchase/Refinance flag