The Mortgage Insurance module helps homeowners gain insight into when they might be able to refinance and eliminate their MI altogether! Homebot will also suggest ways to speed up the process if a homeowner isn't quite there yet. Providing this information motivates the homeowner to refinance sooner, generating more leads for you!
Who will see the Mortgage Insurance module? Clients who have:
A Loan-to-Value of 80% or greater
A single, conventional 30/15 year loan
HOW IT WORKS
From within the Preview Digest mode of one of your clients, scroll down within their digest and notice the new look of the Private Mortgage Insurance (PMI) module with the newly added PMI Estimator (featured below).
Your client will be prompted to confirm the estimated monthly payment by clicking YES or NO in the verification bar. Once confirmed, this bar will disappear.
If your client clicks NO, Homebot will ask your client to type in their monthly PMI value to update it. In case your client doesn't have PMI, they can also click "I don't have PMI" and the module will disappear completely from their digest.
Note: You and your clients can always edit PMI from the loan information panel on the left side of the digest. To do this, scroll to the top of the digest, and click on the "Your Mortgages" panel on the left-hand side. Now, click the blue Edit text next to the blue pencil icon and voilá! You can now edit the loan information including the optional Monthly Private Mortgage Insurance, (featured below by the pink arrow).