OpenClose Mortgage Software, developers of Web-based, end-to-end mortgage loan origination software, is working with Google to provide loan rate and fee data feeds for Google’s AdWords Comparison Ads for mortgages. The new advertising feature will change the way borrowers search for loan product and pricing information and how mortgage lenders currently generate quality leads via the Internet.
Users searching for "mortgage" on Google.com may see Comparison Ads that prompt them to select the type of loan to compare various rates. OpenClose will be providing lender data through its loan product and pricing engine, DecisionAssist. They can choose directly from the offers listed or further refine their search by providing additional information like income, home value or other parameters. They can also call the lender directly or request a quote. By using the direct feed from OpenClose, borrowers receive accurate, up-to-date rates empowering them to make informed decisions.
“Today, Internet users turn to Google for any and all questions they have from early stage investigation to final decision making–mortgages included,” said Jason Regalbuto, CEO of OpenClose. “AdWords Comparison Ads show targeted offers in less than a second with no long forms to fill out. There are no teaser rates or bait and switch offers, just standardized information presented to users, making it easy for them to sort and compare offers on a side-by-side basis. Lenders are only able to contact the user via an anonymized (non-traceable) phone number if the user explicitly requests more information about an advertiser's offer. Google is setting the standard for how borrowers will interact with mortgage lenders moving forward.”
Lenders interested in being included in Comparison Ads can work with OpenClose or one of a few loan pricing engine developers also providing data. OpenClose sets itself apart from other technology by offering a loan origination system in addition to a product and pricing engine. That way, lenders who receive interest from an online borrower can immediately funnel that lead directly into its mortgage software. Borrowers, in turn, benefit from the accurate transfer of data and elimination of repetitious questions and requests.
“We're excited to be working with Google on AdWords Comparison Ads for mortgages,” said Regalbuto. “Assisting borrowers by providing granular targeted mortgage search results will result in more valuable, qualified leads and create a better experience for borrowers and lenders. Additionally, the seamless integration of Comparison Ads mortgage leads directly into OpenClose will add significant value to our platform for existing and future customers.”
For more information, visit www.openclose.com.