The Pending Retention Challenge for Lenders

Lenders, here is a stat that I ran across that is so scary it’s hard to believe:

“In the midst of record-breaking refinance volume, retention woes persist for mortgage servicers, with the report showing just 18% of all refinancing borrowers being retained post-refinance…” – Black Knight’s July 2020 Mortgage Monitor

Read differently, 82% of homeowners will choose a new person to run their next financing. Wow.

At HomeBinder, we feel the best way to stay connected post-close is a centralized home management platform like HomeBinder. Lenders can give HomeBinder as a gift to clients, which allows them to stay connected when they go for their next financing. With our integrations and new Encompass partnerships, it’s easier than ever to create binders.

If interested in learning more book a demo with us.

Looking forward to connecting with you,


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Growing and Protecting Your Future Business with HomeBinder

Busy Times for Lenders Despite the Pandemic

Bankrate, a personal finance company that guides people through pivotal steps of their financial journey, recently published an article highlighting six key trends in the housing market and mortgage industry for the third quarter of 2020.

Trend 1: Home prices are holding up

Trend 2: Americans are migrating to the suburbs — at least for now

Trend 3: Record-low rates are here to stay

Trend 4: Home shopping is going virtual

Trend 5: The mortgage process is going paperless

Trend 6: Millennials are entering their prime home-buying years

This convergence of trends is fueling the mortgage industry and the lenders who support it are very busy with new loans and refinancing business. But lenders cannot take this for granted or assume that their future business is protected.

Technology has an impact on how buyers shop for homes, the mortgage process and closings, and millennials have an expectation for processes to be online and streamlined. To stay competitive and relevant, to gain new clients, and secure repeat business with existing clients, lenders must deliver better technology and services to their clients.

HomeBinder for Lenders

HomeBinder is a centralized home management software platform that facilitates homeownership and maximizes property value. HomeBinder is delivered solely through businesses that service the residential market, whereby we help you retain client relationships, increase referrals, and stay top of mind. Through our partnership with Ellie Mae, lenders automatically create and deliver digital binders to their borrowers as a value-added gift, and through the intelligent nature of the platform deliver ongoing value to the homeowner and to the agents and service professionals that work with your clients.

HomeBinder as a Gift to Differentiate Lender Services

Businesses that serve homeowners have found HomeBinder to be a unique competitive differentiator to help them not only improve client relationships and increase referrals but if introduced early in the pre-sales cycle as a gift to be provided at closing, it helps to solidify the relationship early on. Each HomeBinder that is gifted can be branded by the lender so that they stay top of mind with their client. Post close, once it’s time for a refinance or home equity line, it’s more likely that they will secure the repeat business.

“ALCOVA’s passion is to serve our clients. The customer experience is paramount in all we do. Discussing HomeBinder proactively early in the selling process has enabled us to differentiate ourselves and demonstrate that we understand that managing their most valuable asset can be challenging but can be made easy and effortless with HomeBinder. Gifting HomeBinder to our clients at the closing establishes simplified home management from the start and keeps us top of mind with our clients to secure repeat and future business.” – Kim Bratic, VP of Marketing, ALCOVA Mortgage

Staying Competitive: From Transactions to Relationships

Lenders should consider HomeBinder as a new technology tool to help not only as a differentiator to help close new clients but as a retention tool to stay connected to their clients as a value added partner around their most important asset: their home. Introducing HomeBinder early in the process sets them apart and helps to reassure home buyers that they are in it with them for the long haul, not just the closing. HomeBinder enables an easy to use, cost effective digital connection with the people that they serve.