Mortgage loan servicers can typically refinance their existing customers for much less than anyone else yet only 17% of borrowers used the same servicer to originate or refinance a mortgage loan. This is down from a high of 36% in 2012. Servicers want their customers to return to them and that’s what aboutMymortgage.com was designed to do. aboutMYmortgage.com, LLC (About MY Mortgage) takes borrowers to mortgage loan originators at their mortgage loan servicer that they may otherwise never find.
For mortgage loan servicers and subservicers customer retention is more important than ever. The MBA’s latest Quarterly Mortgage Bankers Performance Report states that origination profit margins are down 50% year over year when comparing Q3 2018 to Q3 2017. The report shows that 71% of mortgage bankers with servicing were profitable in Q3 2017 and without servicing, only 52% would have been profitable. If you originate and service, or subservice loans, aboutMYmortgage.com provides a patented customer retention program to increase your customer loyalty and reduce prepayments.