Alex Kutsishin of Sales Boomerang on Moving Prospects into the Pipeline

Alex Kutsishin is Co-Founder, CEO and Chief ROI Booster with Sales Boomerang, Owings Mills, Md., a provider of tracking and notification software designed to help lenders identify prospects who are ideal candidates for loans. The company’s website is www.salesboomerang.com.

MBA NEWSLINK: Your company’s tagline–“No Borrower Left Behind”–what was the idea behind it?

ALEX KUTSISHIN: It is much more than a tagline. To the Sales Boomerang team, “No Borrower Left Behind” is our mission. The idea came from hearing all the horror stories of borrowers who were turned down or simply couldn’t qualify for a loan when they initially applied and then that borrower had to start the process all over again with another lender. That sucks! The original lender completely forgot and did not care about the wellbeing of the borrower. As a result, the borrower was left behind.

We felt that “No Borrower Left Behind” was the best mission for our company and for the mortgage industry.

NEWSLINK: How does your system work?

KUTSIHIN: It’s magic! Just kidding. We’ve put a ton of effort into developing a cutting-edge technology platform for the mortgage lenders.

Sales Boomerang tracks all relevant borrower events within a lender’s database. These events indicate that a borrower is ready for a mortgage or could benefit from a new loan or a restructuring of the current loan. In simplest terms–Sales Boomerang tells lenders when anyone in their database is ready for a loan.

The beauty of Sales Boomerang is that it does all of this without requiring any manual labor from loan officers. The system is fully automated by the rules put in place one time. The technology learns the rules and then without fail delivers notifications to the lender/LO about a specific borrower and that borrowers’ current situation.

NEWSLINK: How do you define “automated borrower intelligence?”

KUTSIHIN: Automated Borrower Intelligence means there is no manual labor required to operate this system. By integrating Sales Boomerang with your existing technologies–like your CRM or Marketing Automation platform, you can seamlessly take advantage of all the notifications without having to physically make a request. Furthermore, once we are integrated, every notification can trigger an automated marketing campaign.

NEWSLINK: Are you using data that was already there?

KUTSIHIN: Yes. We are using our customers’ existing data. We wrap their existing data with live and relevant borrower intelligence.

NEWSLINK: What other products do you have in development?

KUTSIHIN: We have loan scenario products in development right now. Loan scenario notifications will be even more powerful in helping lenders properly present the benefits of this new loan to each borrower. This means that we will not just deliver an Equity Alert, but rather, we will deliver an FHA Cash-out or a VA IRRRL or a Reverse alert. When lenders get these types of alerts, they will know with 100% confidence that this borrower qualifies and is ready for this type of loan.

NEWSLINK: Where do you see the real estate market going in the next year? Do you see increased competition?

KUTSIHIN: I think we are going to see faster production of affordable housing, as well as an influx of millennials buying homes. Additionally, thanks to rising home prices, I also anticipate a continued increase in home equity lines of credit (HELOCs). When it comes to winning the business of borrowers, mortgage lenders need to face the reality that borrowers are not only look for the best deal, but for a lender that will be their partner, deliver the right news at the right time, and truly have their best interest at heart. If a lender fails to deliver value, their customer retention rates will plummet. The competitive nature of the lending business is a key reason why Sales Boomerang’s borrower intelligence system is so necessary.

(Views expressed in this article do not necessarily reflect policy of the Mortgage Bankers Association, nor do they connote an MBA endorsement of a specific company, product or service. MBA NewsLink welcomes your submissions. Inquiries can be sent to Mike Sorohan, editor, at msorohan@mba.org; or Michael Tucker, editorial manager, at mtucker@mba.org.)