At Mortech we pride ourselves in the great partnerships we have with various companies in the mortgage space. Whether it be an integration with a point of sale platform, loan origination system or mortgage offer marketplace - our ultimate goal with these partnerships is to bring simplicity and automation to our lender’s workflow so they can spend more time growing their business and creating lasting relationships with their customers.
One of these valued partnerships is with Credit Karma Home. Credit Karma Home, the mortgage division of Credit Karma, has created a platform to help guide their more than 100 million members through the complicated and frustrating process of purchasing or refinancing a home. By leveraging insights they have on their members, they are able to match them with financial products that make sense for their specific scenario.
Mortech’s Partner Relationship Manager, Mike Russell, had the pleasure to speak with the General Manager of Credit Karma Home, Andy Taylor, about how Mortech helps Credit Karma Home provide real time rate offers from our mutual lender partners to their members, putting the power of connecting with a lender in the borrower’s hands. By leveraging Mortech’s robust product eligibility and pricing APIs designed to process millions of offer requests from online marketplaces, Credit Karma Home can empower lenders to connect with potential borrowers by advertising their mortgage offers on Credit Karma.
Mortech and Credit Karma Home
The integration between Mortech and Credit Karma Home allows their members to see accurate, live mortgage rates for their specific scenario in real time. Lenders want transparency and accuracy when providing borrowers with mortgage offers. Andy Taylor states, “We are trying to make these 1:1 relationships where our lender partners find a member and it is such a great match that it sticks long term! With real time rate offers being available to them, borrowers are not given teaser rates. What they see on our platform is what a lender can actually quote them right now which is great!” Onboarding new lender partners in this ecosystem can be done quickly without lenders having to change their processes to be connected to Credit Karma Home members, with the end goal of creating a streamlined experience for both sides.
A look ahead at the rest of 2020
The past three months have been very interesting in the mortgage industry. With a lot of homebuyers stuck at home and not able to do in person meetings with lenders and real estate agents; having the ability to look for real time offers online is a necessity. This pandemic is forcing digital innovation in the mortgage space and lenders need to have their brand in the virtual world to compete. With this integration, lenders are able to get in front of borrowers who are looking for mortgage rates from the safety of their home.
With 2020 interactions moving more virtual Andy Taylor left us with one last piece of advice for lenders who are slowly joining the digital space. “Using technology to try and benefit the member is Credit Karma Home’s noble goal. If you can leverage technology that puts the consumer first, provides transparency and certainty and also is easy to use you are improving their lives.”
View the full interview here. If you have any questions about our current integrations or are interested in learning how you can utilize Mortech’s Rate API with your own business model - please reach out to us at firstname.lastname@example.org.