First true “secret shopper” service to help lenders to monitor consumer contact, protect against compliance violations.
LodeStar and RDAssociates are proud to announce the launch of Mortgage Sentinel, a first of its kind “secret shopper” service for the mortgage industry. The service utilizes proprietary research techniques, in-depth analysis, and hands-on training to improve the interactions between mortgage originators and potential borrowers. This ultimately results in higher performance and profits for the mortgage originator.
My friend and partner in Mortgage Sentinel, Richard Douglass, President of RDAssociates, makes an important point about the challenge our new service can help to solve: “In person client interactions are, by their nature, a black box, and secret shopping is the perfect tool to help originators hone the way they communicate with borrowers.” Mortgage Sentinel leverages LodeStar’s network as a leading mortgage technology provider with RDAssociate’s 20 years of experience of compliance work creating an unparalleled solution to address loan officers’ adherence to internal protocol as well as industry regulations.
Our expert specialists will work with mortgage lenders in advance of “quality assurance “ or “secret shopper” audits to understand all policies and procedures in place to support compliance efforts. Its expert compliance team will focus on particular areas of concern and company specific requirements in order to customize the QA process. From there, the Mortgage Sentinel team will collect data by contacting members of the client’s customer facing staff as potential borrowers. The subsequent conversations will be captured, with the cumulative data analyzed against the criteria established at the beginning of the project.
There is so much focus in our industry right now on technology that tracks leads; clients in the pipeline and past customers as we automate the lending process. However, this automation does not account for the inherently personal nature of the making of a loan. At the end of the day, getting a loan or not often comes down to one conversation between the borrower and lender. It will be our role to improve upon this very human part of the loan process.