Home Point Financial has launched its “Customer for Life” program, an all-encompassing technology ecosystem that revolutionizes the way that independent mortgage brokers maintain long-term relationships with their customers and creates stability and long-term value for mortgage brokers that doesn’t exist in the market today.
Home Point’s created the Customer for Life program as a resource for brokers following its recent study that showed that brokers are currently only recapturing 14 percent of their business from past customers.
“The transactional nature of the mortgage business forces mortgage brokers to stay largely focused on the next loan, the next customer, but sustainability of existing business is more important to mortgage brokers’ growth than anything else,” said Phil Shoemaker, chief business officer at Home Point Financial. “The Customer for Life program creates stability and long-term value for mortgage brokers that has never existed before and, with Home Point being the only wholesale lender that retains all of its servicing, and it enables us to take the idea of true partnership to a whole new level.”
The Customer for Life program keeps mortgage brokers, borrowers and the servicer inter-connected for the life of the loan, making it easier than ever before for brokers to stay in front of their customers and recapture their business in the event of future refinance or purchase opportunities.
The technology uses consumer data touch-points to identify if the consumer is in the market for new loan, and then feeds their contact information back to the originating broker. Additionally, Customer for Life keeps mortgage brokers informed of their customers’ interest in other financial areas, such as personal loans, alternate financing, homeowner’s insurance, and utility services, equipping brokers with resources to provide their customers with product recommendations and a framework to evaluate their options.
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