SoftPull is a great tool for sharing with your referral partners. Real estate agents and builders can direct prospects to your SoftPull tool to get an instant credit check while they are meeting with the agent or builder for the first time. After the consumer completes the SoftPull and receives a "Qualified" results they can choose to share their result with the agent or builder.
Search MonitorBase Academy:
If you have affiliate arrangements or marketing service agreements with referral partners, the chances are you have a good amount of prospects that you could be monitoring for home buyer and refinance activity from those databases as well.
If you have access to SoftPull in your account you can give customers or referral partner's clients the ability to text the word "Go" to your unique phone number and MonitorBase will instantly reply back to them with a link to open your SoftPull technology right on their mobile device.
Your SoftPull page links are the links that you can share with clients or referral partners so prospects can access your SoftPull form online to get an instant credit pre-qualification. Click here to learn how to find your SoftPull links.
Your SoftPull page links are the links that you can share with clients or referral partners so prospects can access your SoftPull form online to get an instant credit pre-qualification. To find your SoftPull links or to create custom trackable SoftPull links, first login to your MonitorBase account. On the left navigation, click "SoftPull" then "Links" as shown below:
Each time a customer completes a SoftPull submission you will receive an email from MonitorBase so you can quickly take action. For security purposes, we can't email you the credit report from the submissions. To find you submissions and view the soft inquiry credit report, log in to your MonitorBase account and click on "SoftPull" then "Applicants" in the left navigations as shown below:
If you receive an email saying that you have a new or outstanding invoice with MonitorBase or you want to look at the invoices that have already been paid you can access that information in your MonitorBase account by following the instructions in this article.
What do you do when someone engages with your automated marketing emails? The short answer is to reach out and engage with the customer as quickly as possible. When someone has shown interest by clicking through to your offer, that indicates they may be interested in your products, they are in your sales funnel now.
If your company has enabled email marketing offers on your MonitoBase Alerts an email will be sent to any alert that you receive with an email associated with the prospect. The following are instructions on where to find reports on the email activity that has happened within your account. If your company has not enabled email offers and you would like more information please talk to sales.
You can send yourself a sample firm offer email with your personalized info from within your MonitorBase account. To send yourself a sample email start by Logging in to you MonitorBase account.
The call log will track all of your missed and answered calls. You can use the call log to learn which inbound calls where generated by your MonitorBase personalized marketing, find calls that you missed so you can follow up, and block calls from telemarketers.
Mortgage lead generation is quickly becoming a hot topic for mortgage lenders and brokers as they look to new ways to acquire customers in the digital age. Traditional mortgage marketing models are changing as consumers change the way they wish to engage with mortgage originators. Purchasing leads from lead aggregators and referral partner marketing continue to produce great results for some originators, but how do you get started generating your own mortgage leads while promoting your own brand? Let's discuss alternative ways of generating your own inbound marketing without the need for third-party lead sources.
Get started with your Database Marketing Alerts: Inquiry Alerts, Migration Alerts, Pre-mover Alerts, and Predictive Marketing Automation. For getting started with SoftPull, see Get started with SoftPull instant credit check technology.
Many users ask which credit score is used in SoftPull instant credit check. Our soft inquiry technology pulls the FICO score though Experian, which is the same score that the majority of the mortgage industry pulls for tri-merge credit reports used in an application or extension of credit.
A soft credit inquiry or 'soft pull' is used when a consumer checks their own credit or when a lender checks a consumer's credit to pre-qualify them for an offer.
Text to Pre-Qualify is a text message instant credit pre-qualification feature of SoftPull instant credit check for mortgage originators. Text to Pre-Qualify is a way for a consumer to get an instant credit pre-qualification for an originator or lender instantly on their mobile phone. See also: Where to find your Text to Pre-qualify phone number.
SoftPull instant credit check is a soft inquiry technology that allows mortgage lenders to give a customer an instant credit pre-qualification as a soft inquiry or 'soft pull' right on their mobile phone or on the originator's website.
Forgot your login?
If you don’t know your password, click on the “Forgot pwd?” option. If you don’t know your username, click on the “Forgot user?” option:
Why would you use the SoftPull instant credit check versus a full credit report? In this short video we discuss how SoftPull is much less expensive and much quicker to use than pulling a full credit report. It doesn't hurt the prospects credit and it doesn't trigger marketing from other lenders.
Now that your company has been approved and on-boarded and you have requested an account be created for you, here is how to activate your account for the first time.
MonitorBase Inquiry Alert Script Example:
Every direct mail letter that is sent out to your MonitorBase alerts has a Confirmation Code printed on it. When a consumer calls in from a letter you can ask them to tell you the Confirmation Code that is on their letter. You can use this number to quickly look up their alert and credit profile in your MonitorBase account.
Personalizing your mail and email allows your own name, NMLS, and phone number to be sent on the letters and emails that are sent out to your customers through the Database Monitoring Alerts platform. This insures that email replies and phone calls are sent directly to you rather than the main phone number for your branch or organization.
To upload your prospects, log into your MonitorBase account, click on ‘Prospects’ on the navigation bar on the left, then click ‘Upload’. You will be taken to Step 1, shown below.
So you received your first MonitorBase Database Marketing Alert, great! Now what do you do with it? Here's a quick video that may help!
If you are new to MonitorBase this is a quick video series that will get you started! Click the first video to get started..
Your past clients are you most valuable marketing asset. 1.5-2% of your past client database are applying for a mortgage each month. Past client triggers or Database Marketing Alerts are a great way to retain your servicing portfolio, or get notified and execute automated offers of credit when past clients that you sent to a correspondent or wholesale lender are back in the market again. To learn more see Get Started with Database Monitoring Alerts.
Watch the video for more details..
What is the Predictive Marketing Alert, and why would I need it if I have Inquiry Alerts? Predictive Marketing Alerts are a form of database marketing automation where we use predictive analytics to determine which consumers in your database are showing mortgage shopping behavior. For more in see Get started with Database Monitoring Alerts.
Watch the video for more details..
What is an Inquiry Alert? An inquiry alert is a mortgage credit trigger that has been pulled for one of your past clients that you are monitoring in your database marketing account. Watch this video for what it means when you get an inquiry alert. For more info see Get started with Database Monitoring Alerts.Read Next:
What is a Credit Migration Alert?
What is a Pre-Mover Alert?
What is Predictive Marketing?
What should I upload to MonitorBase, and what information do I need to upload a file to MonitorBase? You only need a name and address to monitor a consumer for credit based events. Watch this quick video for more info. To learn more about database marketing alerts, see Get started with Database Monitoring Alerts.
How to monitor prospects from your referral sources.
An Early Payoff (EPO) fee can cost a branch and an originator everything they earned on the loan plus all fees paid, but our system will give you forewarning when your clients are having their credit pulled at another lender, and this can help you avoid an early payoff fee. Learn more by visiting Get started with Database Monitoring Alerts.
Watch this short video by William LeBaron to learn more about identifying EPOs ahead of time!
If you are using MonitorBase version 3.0 or higher, you may see a new tab under your alerts titled "Additional Data". For each new alert you receive, and when available, we will append additional phone numbers, email address, social media pages, and some helpful demographics.
The MonitorBase Home Buyer product is a very effective inbound call marketing campaign. This article is meant to give you the tips you and your team need to get the most of your marketing dollars. We recommend you go over this article with everyone in your team before the calls start coming in! Trust us, it will help you be more successful. You can also register for a webinar specifically about our Home Buyer program below.
Remember: Everyone you talk to has some level of interest in buying a home, whether they are ready to move forward now or in the next year. Make sure to use this opportunity to refer them to one of your referral partners! Your referral partners will be happy to engage with the consumer early in the process as well. This is a great way to reciprocate business to your partners.
We have many users asking the question "how often should I update my monitored database, and what datasets should I include when uploading new prospects?" In short, you should update your monitored database at least monthly, and here's why:
With an uptick in rates, more mortgage teams are trying to determine how to replace their lost refinance business with purchase business. It's no news that many markets are very low on inventory, making it hard to find homes for your buyers. The name of the game today is how to identify soon to be sellers.