LoanCare^®, a leading national mortgage subservicer, announced two new enhancements to its suite of digital retention tools that will give clients additional customer refinance signals and help them gain critical intelligence on loan payoffs.

Paid in Full Monitoring is a subscription service offered within LoanCare Analytics™, a platform designed to accelerate portfolio analyses with extensive on-demand access to insights across the servicing spectrum. Specifically, Paid in Full Monitoring provides an in-depth look at loans that have paid in full (PIF) and the reason: for example, a home sale or refinance. The service tracks where the loans have gone, if they have refinanced away from the client and provides a stratification of retained loans by interest rate, month of payoff and state. Payoff outcomes can reveal significant competitive risks and otherwise unknown opportunities. This new level of insight is an extremely efficient way to gain retention intelligence.

The second enhancement, RateTrak, enables homeowners to use an interactive slider tool to indicate a desired interest rate or reduced monthly payment goal they'd like to achieve should interest rates decline. By self-selecting to be alerted when rates fall, RateTrak gives clients a prompt to proactively reach out to homeowners who are receptive and ready to explore refinance options. The new tool will be available via the LoanCare Homeowner Portal in Q4.

Paid in Full Monitoring and RateTrak are the latest additions to LoanCare's market-leading suite of digital retention tools that deliver data and analytics to help clients capitalize on opportunities and reduce risk. Customer-facing communications can be private-labeled to keep clients' brands top of mind throughout the servicing journey. This includes self-serve digital experiences through a dedicated Refinance Center within the Homeowner Portal and My LoanCare Go app that serve as an information hub with recommended products, targeted digital promotions, and other benefits-focused communications.

"Paid in Full Monitoring helps lenders protect their portfolios by uncovering opportunities to better calibrate their retention strategies. They can understand potential drivers of loan retention and runoff," said Dave Worrall, president of LoanCare. "Similarly, knowing which homeowners are most likely to act once interest rates drop is a strategic advantage for clients defending their portfolios."