Usherpa Blog - Usherpa Updates Lead-Scoring Power in SmartScore™
Finding new mortgage business is easier than ever, thanks to new business analytics.
DENVER, March 21, 2022 -- Usherpa, the real estate and mortgage industry’s original enterprise CRM technology, has updated its offering with the addition of new SmartScore™ alerts specifically designed to provide leads for Loan Officers. Built on an algorithm developed by applying business analytics to 6 million mortgage loans closed over a 30-year period, SmartScore™ mines the lender’s database and then returns the best contacts and opportunities with the highest likelihood of generating a new loan. Like all UsherpAlerts, all of the information required to make the call is provided onscreen for the LO.
“If you want to do more business today and in the coming purchase money mortgage market, you’re going to have to get good at picking up the phone and reaching out to prospective borrowers,” said Usherpa President Chris Harrington. “Many loan officers shy away from this for a couple of reasons. First, we have been enjoying easy refinance business for so long that it’s been easier to just answer emails than pick up the phone. In addition, cold calls are riddled with rejection, and nobody wants that.”
The new SmartScore™ alerts reduce rejection by providing LOs with leads more likely to close. In the past, this was almost impossible to do, but Usherpa’s new BI makes it possible. The new SmartScore™ alerts are triggered when a borrower in the LO’s database shows signs of being ready to talk about a new mortgage loan. Instead of making another cold call, SmartScore™ allows LOs to reach out precisely when the prospective borrower is ready to talk about a new loan. Best of all, Usherpa provides a number of phone call scripts to make it even easier for LOs to reach out for new business.
To test the new functionality, Usherpa took a point in time approach to backtesting, looking at what the new analytics would score borrowers in the database as of January 1, 2019, and then checking to see if borrowers who scored high had in fact applied for a new mortgage or refinance after that date. The model found that borrowers in the test portfolio who scored high had a 360% higher likelihood of refinancing and a 297% higher chance of applying for a new purchase money mortgage. LOs are 3 times more likely to get a loan application from a prospect they call based on a Usherpa SmartScore™ alert.
What started out as a better tool for marketing home loans in 1995 has evolved into the industry’s most sophisticated, cloud-based CRM/Marketing Automation system. Now referred to as the Relationship Engagement Platform, Usherpa’s smart CRM software has helped thousands of loan officers stay connected with partners and clients. These LO’s have helped hundreds of thousands of borrowers fulfill their dreams of homeownership.
Find out more by visiting the company by calling (303) 740-5710 or via email at info@usherpa.com.
About Usherpa
Usherpa has been serving the mortgage and real estate industry since 1995, when it was founded as Media Center LLC. The company offers a powerful, easy-to-use marketing and CRM platform backed by gold-standard customer support and robust training to help Loan Officers and Real Estate Agents make the most of its effortless, fully-automated CRM. Usherpa users are empowered to build and maintain relationships with prospects, past customers, and business partners, resulting in increased repeat and referral business.
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