Rate Reset | Loan Acquisition, Reset and Retention Software
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Transforming the Mortgage and Auto Loan Industry with

Rate Reset Technology

Adjust the rate and terms of mortgages and auto loans
with just a few clicks

Financial Institutions
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Consumers
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What is Rate Reset?

  • Technology that Empowers Consumers to Reset Their Existing Loan Electronically
  • Software that Automates Loan Retention
  • Brand that Protects Against Cost and Hassle of Refinancing in the Future
  • Feature of a Loan…Not a New Loan

Rate Reset for Auto

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Enables Consumers to Reduce Monthly Payments by Extending Term

Rate Reset for Mortgage

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Empowers Consumers to Reset their Existing Mortgage Electronically

Rate Reset

  • Software Platform for Resetting, Reporting & Billing
  • Provide Forms, Addendums & Riders
  • Turnkey Employee Training and Marketing Solutions

Financial Institution

  • Set Rates and Screen Loans for Reset
  • Control All Loan Requirements
  • Review Included Forms, Addendums, and/or Riders

Consumers

  • Customer Reviews Offer and New Terms
  • Approves and e-Signs Documents in less than 60 seconds

Simple to Join

  • Up and Running in less than 90 days
  • No New Technology Needed
  • No Changes to Processors
  • Minimal Back Office Support

Easy to Use

  • Rate Reset Dashboard Provides Administrative Control over All Loan Requirements
  • Turnkey Marketing Solutions Provided to Train Employees and Market to Customers
  • All Legal Documents Included (riders, addendums, disclosures, etc.)

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Benefits for your Institution

Attract & Retain Customers

  • Competitive Differentiator
  • Gives Customers the Convenience & Ease of Resetting Without Cost & Hassle of Refinancing
  • Builds Trust & Peace of Mind with Customers

Compete More Effectively

  • Sets Your Institution Apart from All Competitors in the Marketplace
  • Broadens Product Offering

Increase Profitability

  • Increases Yield and Duration of Auto and Mortgage Portfolios
  • Frees Time to Focus on Generating New Business

Eliminate Back Office Cost

  • Eliminates up to $5,000 per Loan in Back Office Costs

Simple & Easy

  • Up and Running in Less than 90 Days
  • Turns a 60 Day Process into 60 Seconds
  • Turnkey Marketing Solutions to Train Employees and Market to Consumers
  • All Legal Documents Included (riders, addendums, disclosures, etc.)
  • Uses Current e-Signature Technology

Benefits for your Customers

Saves Time & Money

  • No Closing Cost
  • No Credit Checks
  • No Appraisals
  • No Paperwork

Simple and Easy

  • Eliminates Cost / Hassle of Refinance Process
  • Turns 60 Day Process into 60 Seconds

Builds Trust & Equity

  • Rewards Customers for Paying on Time
  • No Change to Amortization Schedule

Low Loan Retention Rates*

25%

Industry Continues to Experience Low Mortgage Retention Rates

* Source: PWC: Mortgage Member Retention Survey (2007)

Cost & Hassle of Refinancing**

62%

Cost to Originate a Loan
Has Increased

** “Origination Report: Loan Processing Times on the Rise, Closing Rates Improve in September” Sawnson, Jann, MortgageNewsDaily.com, 10/17/2012

HELOCs About to Reset***

2.5

million HELOCs

to Reset between
2015 – 2017

*** Source: Black Night Financial, September 2, 2014

Testimonials

penfed circular

testimonial_quoteRate Reset’s technology provides the mechanism to put our members in control of their mortgage. The Rate Reset Protection feature is consistent with our long-standing goal to provide products tailored for PenFed’s members and their families. This product empowers our members while also improving the overall member experience.

- J. Schenck, CEO, Pentagon Federal Credit Union

narfe circular

testimonial_quoteNARFE Premier FCU has been thrilled with the results from our first full month using AutoHarmony’s “Rate Reset” and “LoanGen” products. We have closed 100% of the loan applications generated from the LoanGen product,including 2 loans on the very first day.

- J. Stiles, VP of Lending, NARFE Premier Federal Credit Union

gte financial round

testimonial_quoteGiven the challenges of today’s economy, GTE Financial strives to provide greater resources and services that improve our member’s lives and their economic stability. Innovation and technology are giving us more opportunity to make positive changes in the lending process for our credit union members

- J. Brancucci, President and CEO, GTE Financial

narfe circular

testimonial_quoteBoth products are straightforward and simple for our members to use, generating leads for new loans as well as keeping our current portfolio of auto loans engaged with us. The programs are a win-win combination for us with a minimal budgetary impact. We couldn’t ask for much more.

- J. Stiles, VP of Lending, NARFE Premier Federal Credit Union

 

In the News

mortgage-banking

“Disruptive Innovation: The Harmony Loan…Rate Change at a Click”

Mortgage Banking – April 2013

credit-union-times

“Harmony Mortgage Network Would Bridge CU-Bank Divide”

Credit Union Times – January 13, 2014

national-mortgage-news

“GTE Financial First CU Outside the D.C. Area to Offer Harmony Loan”

National Mortgage News – January 14, 2014

Accolades

finovate

Only Company to Receive Straight A’s

mortgage-banking

Tech All-Star 2013

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Top 10 Tech Companies to Watch in 2013