See also > E-LinQ Launches THE INTERPRETER
FOR IMMEDIATE RELEASE
E-LinQ Launches New Lender-Realtor® Affinity Tool: A Shared Buyer Lead Capture System with Transaction Counseling Tools
Real estate agents and loan originators work as a team to generate homebuyer leads by offering homebuyers valuable transaction counseling.
Atlanta, Georgia – January 12, 2009 – House-Payments.com provides loan originators a new way to establish valuable referral relationships with real estate agents and to improve the home buying experience.
E-LinQ Corp. USA, a provider of technology solutions to the real estate and mortgage industries, today announced the launch of House-Payments.com, a site where homebuyers can view purchase scenarios specific to the home listing of interest and receive valuable purchase transaction counseling advice.
Homebuyers are introduced to House-Payments.com by a yard sign in front of a home for sale. The sign invites prospective homebuyers to visit House-Payments.com to “View This Home's Cash and Payment Options.”
On House-Payments.com prospects are able to select the listing of interest and view a display of six alternative purchase and financing scenarios specific to the listing. The display page also alerts prospects to the fact that there is a “best loan program and best rate/cost alternative based on your tax bracket and expected term of ownership.” Prospects are also prompted to submit their cash and payment constraints, their tax bracket and expected term of ownership. In return, the prospect is promised a “Maximum Purchase Power Analysis” and a “Best Rate for Tenure Analysis.” The prospect’s information is routed to both the loan originator and the listing agent.
“What is unique and valuable about the House-Payments.com service is that it is able to capture buyer leads even if the prospect is not interested in that particular home.” said Ernie Lester, E-LinQ’s CEO. “Especially, new home buying prospects want to be able to relate the price range they are looking in to their cash and payment constraints. But equally important, prospects who respond gain truly valuable transaction structuring advice and connect with industry professionals who use our powerful tools to optimize the home buying and home financing experience,” Lester added.
The power behind House-Payments.com is E-LinQ’s flagship product, THE INTERPRETER Real Estate Counseling Program®, a powerful transaction structuring tool linked to the lender’s quoted rates, loan costs and settlement cost estimates.
THE INTERPRETER is totally unique in its ability to “work backwards” from primary constraints, such as desired total initial cash investment, total monthly payment, and seller-paid costs. Given those constraints, THE INTERPRETER finds the buyer’s maximum purchase power for each loan program and displays the resulting purchase scenarios in descending order of purchase power.
Loan originators and real estate sales professionals, working together, use THE INTERPRETER to help facilitate the sale of a home and expedite the negotiating process. The program also provides guidance as to the optimum transaction structure, including the “financially correct” choice of loan program and rate/cost selection. Once the desired transaction structure is found, the transaction data can be transferred to the lender’s loan origination system.
“From a consumer perspective, the advent of THE INTERPRETER means a new level of customer service that results in greater buyer confidence in finance-related decisions, and an overall improvement in the home buying and home financing experience,” according to Lester.
THE INTERPRETER and the House-Payments.com upgrade are licensed to individual loan originators. Each license includes the right to provide the originator’s branded version of THE INTERPRETER to real estate sales professionals “for advertising and communication purposes.” A companion utility, LenderLinQ®, links to source rate schedules and automatically provides the daily rate updates.
Lester summarizes his company’s goals this way, “From an industry perspective, E-LinQ is all about helping create affinity relationships between mortgage loan originators and real estate sales professionals by providing shared tools that help them sell their services more easily, coordinate more effectively, do their jobs more efficiently and deliver a much better customer experience.”
Visit http://e-LinQ.com/lenderrealtor/ for additional information about House-Payments.com, and http://e-LinQ.com/ for additional information about THE INTERPRETER. Industry professionals may also download a free evaluation version of THE INTERPRETER from the E-LinQ site.
About E-LinQ Corp. USA
E-LinQ Corp. USA is a privately-held corporation located in Fayetteville, Georgia. E-LinQ was founded by Ernest W. Lester in 1997, and incorporated in 2002. Mr. Lester’s career for 25 years was in mortgage lending and real estate brokerage.
After seven years of development, the company succeeded in creating a transaction scenario generator able to work backwards from the desired outcomes (given constraints) of a real estate purchase or refinance transaction to find a borrower’s maximum purchase and borrowing power. Analysis tools were then added to leverage the power of the transaction generator. The result is the first-ever “true” automated real estate transaction counseling device.
THE INTERPRETER Real Estate Counseling Program® was released for beta testing in January, 2005. By February, 2006, E-LinQ had established relationships with over 200 real estate agents acting as beta testers, and has since tested a number versions updates. Version 5.0 of THE INTERPRETER, slated for release this month, will be the first commercially-available release of the program.
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