Mortech Inc. has announced that it has integrated HomeTrac’s secure ECHO Button (Every Client Has Opportunity) portal into its Marksman Lending Management Platform. With the new functionality, potential applicants that are denied at the pre-qualification stage for any of a number of reasons can be referred to HomeTrac for financial literacy education and then automatically returned to Marksman when they are more likely to qualify for the mortgage.
“The nation’s best originators realize that they can no longer afford to let any lead slip through their fingers; they have to make good on as many as they can,” said Don Kracl, Mortech president. “The ECHO Button makes this possible by guiding borrowers who don’t qualify for some financial reason through the HomeTrac program. It’s designed specifically to help borrowers get approved for a mortgage and not just improve their credit score. Unlike other programs, the ECHO Button tracks their progress and returns the lead directly to the loan officer so the deal can be closed.”
The ECHO Button costs lenders nothing to use and provides an affordable program of education and instruction that helps prospective borrowers understand more than just their credit scores, but really provides a roadmap for loan approval.
“This isn’t simply credit repair, our program actually helps consumers become financially literate. And we can do it in a surprisingly short period of time,” said Scott Miller, co-founder and chief executive officer of HomeTrac. “Credit repair is not mortgage driven. HomeTrac is a full-blown home loan approval action plan with specific action items that will help the consumer get qualified for a mortgage in the shortest possible time. Using the ECHO Button ensures the lead comes directly back to the loan officer who made the referral once the consumer has completed the program and is ready to proceed with an application. Basically we’re your back-end pipeline management team, except better since we provide the service to the lender at no cost.”