Mortgage fintech MonitorBase contemplates future steps

The company has roughly 170 mortgage lender, credit union and bank customers, covering approximately 10,000 mortgage loan originators who use the technology.

Sales enablement

Zitting describes MonitorBase’s signature technology as a “sales-enablement” or analytics tool.

“Lenders can load all 0of their contacts into our system and we will monitor them for credit activity,” Zitting said. “That tells us [when] they’re likely in the market for a mortgage in the near future, and then we notify the [loan originators] with daily alerts of those people.” Alerts point to whether customers want to buy a home or refinance or another related transaction.

The tool has proven to be particularly useful for the industry, Zitting said.

“The level mortgage industry is very referral based and also quite transactional, and so there is not as much [interaction with] a continual customer,” Zitting said, referring to the type of mortgage that requires the same dollar payment each payment period. “We’ve found that if we can notify originators when somebody is likely in the market, they’re much more likely to be able to engage with them in that time.”