2023 New Product Features and Enhancements

Bring your realtor partners into the application with Agent co-branding. Build out your partners as agents in the admin portal, create a unique link tied directly to both you and the agent and display their headshot, name, company and contact information right next to you on the dashboard of the app.

When visiting the admin portal, you’ll be greeted with a brand-new dashboard. New features include a percentage breakdown of your client’s journey tab, the star distribution for everyone who has run the readiness snapshot in the given month, who has reached 4 stars recently and a section showing the users who recently improved their credit scores.

4 Star Mortgage Readiness – loan officer notification

When a consumer achieves 4 stars on their mortgage readiness results, a notification email will be sent to the assigned LO. The email will consist of the users name, email, sign-up date, specified purchase price and the readiness guidelines.

Estimated monthly payment changed – push notification

Amobile push notification will be delivered to those users whose readiness run was more than 7 days ago and their readiness monthly payment has changed (+ or -) $5, due to a change in credit or interest rate.

Updated Admin Portal setup email

When a new user is set up in the admin portal, they will receive an email with instructions on how to login into the admin portal, along with their company code and username. The initial password will remain a onetime pass code that is delivered in a separate email.

Value Proposition highlighted to increase account registrations

When consumers click on invitation links, they will now see a landing page going over some of the many value propositions found within their version of FinLocker. From the personalized action plan to checking their path to homeownership, improving their credit score and tracking the value of their home or investments. There are multiple CTA’s all leading your consumer to registration.

New Readiness Snapshot with dynamic action plan and lender tips

Consumers are shown their status of cash-to-close a savings, employment history, credit score and their monthly debt ratio. Every action that is under the threshold of mortgage eligibility will receive a spanner and the consumer will be provided with a tip in their Action Plan below to help them overcome this barrier to mortgage readiness. When they have achieve 4 stars they are encouraged to contact their lender to get pre-qualified.

Interest rate index from Optimal Blue in credit and readiness

In both the Readiness and Credit section of the application, you will now find references to the Optimal Blue daily mortgage rate for 30-year conforming loans. The rate is utilized to provide the user guidance on how their credit may affect their interest rate as well as to calculate their perspective monthly mortgage payment. Providing this information inside the application also allows them to stay in the application as opposed to going searching for the information elsewhere. The rates displayed are for general guidance only and not meant to depict the actual rate the user will receive.

Payment Reduction Calculator added to Readiness Snapshot

Already ran the Readiness Snapshot and wondering what you can do to potentially lower your proposed monthly payment? Utilize the new Payment Reduction Calculator. Enter your goal payment amount and click “see how to lower your payment”. Options based on your purchase price, credit score or down payment will be displayed, along with notifications if you are currently using an out-of-date interest rate.

New Financial Summary

The financial summary is an in-depth look at all assets and liabilities enrolled in the application. From here you can add new accounts, from checking and savings to retirement, credit cards, mortgages, etc…, keep track of your net worth, keep an eye on your cumulative savings and even track your debt-to-income ratio.

Target credit score tracking

Setting, tracking and reaching your credit score goal is made simpler with the Credit Compass tool (web only). Advise the tool of your target score and not only will the tracking to your goal start right away (date the goal was set, starting score, current score and target score), but you will receive recommendations on how to achieve your goal based on different timeframes you choose.