Sales Boomerang and Mortgage Coach announced an API integration between Mortgage Coach and SaaS technology provider Polly on Thursday.
Real-time data from Polly’s cloud-native Product and Pricing Engine (PPE) will feed into Mortgage Coach Total Cost Analysis (TCA) presentations through this integration, providing home loan comparisons for borrowers.
“Now, lenders can merge the benefits of our high-performance PPE with Mortgage Coach’s ability to multiply borrower conversion,” said Adam Carmel, founder and CEO of Polly, in a statement. “And stay tuned; there is much more to come from Polly’s partnership with Mortgage Coach.”
Sales Boomerang and Mortgage Coach merged in June, about six months after a Philadelphia-based private equity firm LLR Partners invested $80 million, buying stakes in both firms. Together, they formed the Borrower Intelligence Platform (BIP) by combining borrower intelligence with interactive TCA presentations, which allowed mortgage advisors to contact borrowers at strategic times.
In March 2021, Polly raised $15 million in Series A funding led by 8VC and in January 2022 raised an additional $37 million in a Series B funding round led by Menlo Ventures. In May this year, Polly’s mortgage SaaS technology integrated with mortgage insurance providers like Arch MI, Enact, Essent, MGIC, National MI and Radian.
“Lenders invest significant time and money into building diverse portfolios of loan products designed to meet borrowers’ unique needs, yet those products often sit underutilized,” said Joe Puthur, chief lending officer at Mortgage Coach and Sales Boomerang, in the statement. “Piping Polly’s precise product and pricing data into engaging, data-rich Mortgage Coach TCA presentations solves that problem by making it not only possible, but easy for mortgage advisors to present a wider array of financial solutions to every borrower, every time.”
Sales Boomerang and Mortgage Coach laid off at least 20 employees last month amid significant mortgage market challenges.