Uplist launches automated refi analysis tool

Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers automatically generate refinance options for their clients.

The technology, called “Recapture,” is integrated with the leading pricing engines, and it provides LOs with timely, accurate data that identifies multiple refi opportunities for clients.

Unlike other industry “rate alerts,” Uplist’s product fully automates the entire refinance analysis process. This includes property ownership checks, automated valuation models (AVMs), loan amount amortization and financial benefit calculations.

If it’s directly integrated into the product pricing engine (PPES) — such as Optimal Blue‘s or Polly‘s — LOs are notified when favorable refinance opportunities arise for clients.

The tool also does modeling of potential savings for homeowners by analyzing various interest rates, closing costs and repayment options. Recapture also builds the borrower presentation and writes a custom email, allowing LOs to quickly engage clients with personalized refinance options at faster speeds than other rate alert tools.

Loan officers can also put in lender-offered concessions that will change the pricing. And they can sort their book of business by highest interest rates, identifying past clients who could benefit through a quick analysis.

Sales leaders and executives can use the system to determine which LOs are using the product to find refis in their books, said Jeff Bell, the founder and CEO of Uplist.

“They see every loan officer in the company that’s using it,” Bell said. “They see how many loans they have uploaded in our system, how many opportunities are being identified, what’s the dollar volume of those, and are they logging in to actually use it?

“So, if an LO is complaining about their volume, they can go in and say, ‘Well, you haven’t been in here since the 7th and and I see there’s $15 million in opportunities.” You’re like, ‘What are you doing?’”

Uplist is targeting the retail mortgage market with the product, but it’s also available for third-party originators.

“Our goal is to provide loan officers the ability to perform an entire refinance evaluation and deliver homeowners an easy-to-read presentation with the push of a button,” Bell said in a statement. “With Recapture, mortgage professionals can drive more business growth, maximizing opportunities within their closed loan pipeline.”