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Three Reasons You Should Be Using Rate Trackers

Posted by Brian Hall on Jan 17, 2018 11:12:26 AM

Why you should be using Mortech Rate TrackersNothing can be more deflating than losing a potential borrower at the last second due to a rate they’re unhappy with. The borrower lead comes in, you’re quick to respond, you understand what they qualify for, and then when you show them their potential rate, they’re not satisfied and continue to shop around. It stinks, right?

Fortunately, there’s a way you can help borrowers get what they want while keeping you in mind as it happens. By utilizing a rate tracker, you can send rate updates to your borrower prospects on a set basis, or when the specific rate they want becomes available. As the rate notification outreach is coming from you, the borrower will be keeping you in mind while they receive those updates. Even as rates are expected to go up, you can set a max rate to trigger the tracker as well. Trackers can even be configured by monthly payment change or points paid. No matter how you want to track a rate, with Mortech rate trackers, it can be done.

Send your rate trackers through specific real estate agents

Say you have an agent you’ve worked with before, or frequently like to work with. Or, perhaps, your potential borrower has a specific agent they want to work with. You can trigger your rate tracker based on their specific rates, and wait until the agent you want has the rate your prospect is happy with. This doesn’t have to be limited to one agent either – by setting up a separate prospect with the agent’s email address, you can setup the rate tracker based on the criteria you and/or your borrower want, with as many or as few agents as you’d like.

Trigger API posts based on rate trackers

Often times, the process of sending an email campaign to borrowers relies on Mortech sending an email campaign on the lender’s behalf. However, rate trackers create an easier, automated way to build and send email campaigns. Once the rate tracker triggers the desired rate, it sends a post to your CRM, which can then build an email campaign. This isn’t limited to email campaigns either; you can set up many different actions to be trigger via the rate tracker automatically, and automate entire processes.

Stay in touch by enrolling all of your borrowers

An easy way to stay in contact with your borrowers after you’ve first touched base with them is to automatically enroll them in a rate tracker. Doing so allows you to stay fresh in their minds and keep putting rates in front of them, even if they walk away unsure of what they want to do for a mortgage moving forward. Sending products to them, even if they’re not sure what they want, could help them keep thinking about their mortgage future, and possibly even find a product or rate that appeals to them.


Rate trackers are a great way to automate day-to-day processes and keep in touch with potential borrowers. There are a number of different ways in which they can be utilized to maximize your business and grow your pipeline. Want to find out more? Contact us today, and let us help you discover the advantage rate trackers can bring.


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