MBA Premier Member Profile: HomeBinder
(One in a continuing series of profiles of Premier Members of the Mortgage Bankers Association.)
Founded in 2015, HomeBinder, Burlington, Mass., is a centralized online platform designed to make maintaining a home’s value easy while improving relationships between homeowners and the businesses that serve them.
Unlike traditional leave-behinds like business cards and refrigerator magnets, HomeBinder maintains an ongoing digital connection with homeowners through a platform designed to make home management and home value actionable with features that include adaptive home valuation, document storage, maintenance reminders, appliance recall notifications, a digital home inventory and more.
Jack Huntress, Founder and CEO
Peter Paglia, CSO and CRO
MBA NEWSLINK: What are some key trends your company is tracking?
JACK HUNTRESS: Maintaining relationships with homebuyers is an ongoing challenge for the mortgage industry, which averages an 18% retention rate across the board. However, by staying involved in borrowers’ lives after the sale and thinking with a client for life mindset, lenders could considerably improve borrower retention.
As such, HomeBinder tracks homeowner engagement and frequently surveys users so we can continually enhance our platform with features that keep them connected with their lenders, Realtors and home professionals over time. By listening to homeowners and fine-tuning our platform to their needs, HomeBinder has been able to achieve a 63% email open rate, which is triple the open average for the financial services and real estate industries.
NEWSLINK: Why did your company join the Mortgage Bankers Association?
HUNTRESS: HomeBinder joined the MBA because it is the leading advocate for the real estate finance industry and is dedicated to supporting its members’ success in an ever-changing housing market. Unmatched as a resource for research, education and networking, the MBA is the preeminent member organization for businesses operating in the mortgage industry.
NEWSLINK: How has being an MBA Premier Member benefited your company?
HUNTRESS: As an MBA Premier Member, HomeBinder benefits from a comprehensive array of resources and tools that help keep our finger on the pulse of industry news and trends. Our participation in MBA conferences has also enabled us to connect with forward-thinking mortgage lenders and technology firms with a shared interest in fostering greater engagement between borrowers and the businesses that support their homeownership journey.
(MBA Premier Member Profiles are a service provided by the Mortgage Bankers Association and MBA NewsLink as a service to MBA Premier Members. Publication does not constitute an endorsement of a particular company, product or service. For more information about the MBA Premier Member program, contact Brad Padratzik at firstname.lastname@example.org or 202/557-2920.)