Mortgage lenders need innovative solutions to manage customers and prospects from lead to funded loan and beyond. TransUnion and FinLocker solutions create digital mortgage solutions that combine TransUnion’s credit and consumer data with FinLocker’s next-gen consumer financial relationship management app provided to consumers through their financial institutions. Combining TransUnion and FinLocker solutions help mortgage originators improve lead conversion, streamline the loan application and underwriting process and help servicers improve retention and manage risk.
Solution
TransUnion and FinLocker Solutions
Improve the consumer experience, streamline loan application and drive efficiencies in mortgage servicing using the combined power of TransUnion and FinLocker solutions.
Used together, TransUnion and FinLocker solutions deliver end-to-end solutions for mortgage originators and servicers.
- Reduce the cost of customer acquisition and conversion
- Serving the underserved
- Improve retention and manage risk
- Engage turn-down applicants
Tap into more potential customers to increase business.
Generate, groom and convert leads while streamlining the entire mortgage application and underwriting process. Creating a better overall experience can help generate trust and loyalty.
Help address the economic disparity in homeownership and wealth creation.
Support underserved consumers by providing a high-tech, high-touch solution that offers mortgage and home buying educational resources, along with credit monitoring, debt management, budgeting and planning tools that can help low- to moderate-income consumers realize their dream of homeownership.
Real-time access to real-time credit and non-credit signals.
Servicers can leverage the ‘always-on’ access to credit and consumer permissioned data that TU and FinLocker can enable for them. Through FinLocker, and with the consumer’s consent, servicers will have constant access to their customer’s bank transaction data. Leveraging FinLocker’s perpetual analytics services, servicers can identify early warning signs of any potential financial distress.
Manage your mortgage turn-down applicants’ pipeline.
Putting a transparent, tech-driven financial solution into consumers' hands can help provide them access to credit improvement, financial planning and education tools to remedy their initial reasons for denial and reapply with a stronger mortgage application
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