Home loan auction platform goes national
A recently restructured online home loan auction market has announced it is going national in an effort to help brokers and lenders of all sizes as well.
Following its merger with LoanDolphin, Joust has brought a range of new products and services to market, the first being its Joust Instant Match.
The service was designed for clients looking to more effectively assess their financing options, connecting them with up to three service providers who quickly verify their criteria against their various mortgage products.
Since the service’s initial launch, Joust Instant Match users have proven unlikely to shop elsewhere digitally, providing a greater chance for partners to connect and convert.
“Mortgage brokers are now able to underwrite and acquire leads of quality home loans for a fraction of what it would cost them if they used their own strategies through other channels,” said the CEO of Joust, Carl Hammerschmidt.
“The first feedback we have had on the quality of customers from our launch partners has been overwhelmingly positive. “
LoanMarket franchisee and original Instant Match partner Michael Chadwick was among those who voiced this sentiment.
“I see that most of the Joust customers who use the Instant Match solution are actively looking to do something and are waiting for a call from me to discuss loan options with them,” he said.
“It has been a good solution to help increase business volumes now as well as build a database of active customers to write business in the future.
“I find that Joust’s customers convert at a higher rate than other vendors I have used, which generates more revenue and a much better ROI for my business.”
Chadwick also pointed out the good experience he has had with Joust’s “useful” team so far.
“They have a real desire to work with me as a business partner and help our company develop good quality demands and convert them into sales,” he said.
Instant Match was created to present a digital path to market that allows lenders and brokers of all sizes to compete on an equal footing, with reduced time and capital commitment while achieving strong digital reach.
“Instant Match allows us to deliver ads that scale well to larger practices with a corresponding marketing budget, as well as to smaller businesses,” Hamerschmidt said.
“A budget of $ 3,000 will increase reach and ROI with Instant Match than with other digital channels.
“[However], our new platform not only provides a stronger digital path to market for lenders and brokers, but the top priority is ensuring the right client is offered the right loan at the right time. “
Currently, Joust provides mortgage loan opportunities of over $ 300 million per month to its mortgage broker and direct lender partners.