Important Questions for Your Mortgage Lender
We’re excited to highlight our new customers, growth into serving financial institutions and share our new brand and messaging.
MLS and Realtor Association news
Most recently, Down Payment Resource partnered with the Colorado Association of REALTORS® and MLS PIN. The largest Multiple Listing Service (MLS) in New England and one of the largest in the nation, MLS PIN launched the web-based tool to its more than 33,000 strong membership.
The company’s longstanding customers are also reaching new milestones. In June, Midwest Real Estate Data (MRED) reached one million page views through Down Payment Resource. That means, one million homebuyers and Realtors across Chicagoland have viewed down payment program results.
Expanding to serve financial institutions
Now that mortgage originations have transitioned to a predominantly purchase money market, lenders are turning to Down Payment Resource to better source and track programs that can help them tap into the next generation of homebuyers. Financial institutions license Down Payment Resource to educate their customers and help mortgage loan officers efficiently match eligible borrowers to available programs.
In March, Bank of America launched its new web-based tool, powered by Down Payment Resource, to guide consumers to down payment and closing cost assistance programs available in their region. Joining Down Payment Resource’s first lending partner, Mountain West Financial, the company also launched new partnerships with MB Financial Bank, South Pacific Financial Corporation and On Q Financial.
Fannie Mae sources Down Payment Resource’s research in its new 97% LTV Options Consumer Outreach Materials for its lender partners. The flyers and materials, available in both English and Spanish, make it easier for Fannie Mae’s lender partners to educate responsible homebuyers on the availability of low down payment mortgages and down payment help. In addition, Fannie Mae links to Down Payment Resource on its lender and consumer resource webpages.
New brand and messaging
Down Payment Resource’s new brand and messaging is designed to better communicate the opportunities available to today’s homebuyers.
Down Payment Resource also launched more intuitive icons and messages that display on eligible listings. Across participating MLS markets, the new icons and improved search have increased the average clicks-to-leads ratio from 7 percent to an impressive 10 percent.
In addition, homebuyers will find a new results message when they complete a search for programs. It highlights the number of programs and maximum benefit possible based on the information they entered.
Read the full press release.