Leveraging Your Technology for Equity Offerings

Written by: Paul Bates, Senior Technology Consultant

Why This Matters: Lenders who wish to capitalize on the opportunity to capture home equity loan and line of credit business can swiftly integrate product changes and marketability through successful technology utilization strategies.

Consumers are leaning towards equity products over refinances given the current rate environment.  This provides a big opportunity for lenders to capture market share through equity products by leveraging already in-place technology. An institution’s existing LOS, POS, PPE, and core platform should easily be configurable to drive more volume while compensating for loan level risk, and SCA can help.

Promotional Products:  In many circumstances it is optimal to create a separate product for promotional initiatives.  SCA technology consultants can help you quickly configure, test, and deploy new products in your Loan Origination System in an efficient and compliant manner. We’ll take it one step further, collaborating with compliance and servicing to safeguard all new product offerings for regulatory requirements as well as core platform compatibility.

Pricing Strategies:  Did you know you can configure pricing strategies for equity products using your Optimal Blue Pricing Engine?  SCA has been working with lenders for years creating innovative pricing options in Optimal Blue.  This provides a consistent and effective pricing solution for your equity products and mitigates fair lending risks.

Applying these and other strategies to leverage your technology stack is an actionable approach that encourages consumers and loan officers to embrace your institution’s offerings in the equity loan market. Please contact our Director, Bill Dolan, at WDolan@scapartnering.com or by phone at (617) 694-2617 to see how our experts can help you enhance your equity lending, applying techniques that utilize the technology you already have in place.