Ellie Mae, a cloud-based platform provider serving the mortgage industry, has debuted an automated solution for helping mortgage lenders to engage borrowers.
The new service, Velocify LeadManager Essentials, facilitates messaging via email and text, while enabling the tracking of performance data, the company says. In addition, it allows lenders to follow up on leads and abandoned applications.
The purpose is to help institutions “respond to the growing volume of refinance interest by automating key communications between their originators and their borrowers,” states Joe Tyrrell, chief operating officer, Ellie Mae.
Tyrrell add that “communication occurs at the point of engagement.”
All communications are routed to the originator's existing email inbox, and automated messages are pre-set by the lender.
Tyrell continues, "as retail mortgage companies are communicating entirely with borrowers online versus in person, they risk losing out on significant potential revenue due to slow or inconsistent follow-up."
The new offering is part of Ellie Mae’s Consumer Engagement platform.