Challenge: 

Fraudulent borrowers can obtain multiple loans on the same property while the application is still being processed, which leaves you exposed to risk before the deal even closes. 

Solution:  

Property Monitoring delivers instant alerts when a new charge is registered on the property after an application is submitted but before funding. This allows you to stop risky deals before they close, protect your reputation and eliminate the need for costly post-closing investigations.

Challenge: 

Without proactive monitoring, lenders can find out a borrower has switched during a refinance to another institution only after the deal is closed. By then, it’s too late to try and retain the client or understand what made them switch. 

Solution:  

Property Monitoring can detect when a new charge is registered on a property by another financial institution. In this instance, even if a borrower completes the switch, the alert delivers important information. You’ll learn which competitors are winning your clients and can develop strategies to fine-tune offers, create timely communication with clients and strengthen overall customer loyalty.