Haven Launches Borrower Engagement Product

ByTMN Editor Reading Time: 2 minutes

Servicing fintech Haven introduced Haven Wallet, a program that allows lenders to continue interacting with borrowers through the life of the line.

Haven Wallet is a turnkey, digital experience that provides borrower engagement opportunities even after the loan is sold, fostering long-lasting relationships between homeowners and originators.

It offers the following benefits:

  • Embedded Servicing: A unified platform for mortgage payments that adjusts to servicing changes as needed. Future servicers are added automatically.
  • Financial Monitoring: Haven Wallet offers free monitoring and analysis of critical loan and wealth factors – including payments, interest rates, escrow and equity – to help borrowers optimize their home’s financial benefits and identify opportunities for growth and refinance.
  • Solution Marketplace: By consolidating all affiliated partners, Haven Wallet streamlines the process of finding services related to homeownership and family finances.
  • “Lender-in-the-Loop”: Wallet allows borrowers to contact their lender and loan officer about their current or future mortgages.

Borrowers access a one-time setup to pay their mortgage and receive a consistent experience for the life of their loan.

At the same time, servicing transfers happen behind the scenes thanks to Haven’s integration across multiple servicers.

“According to JD Powers, loan transfers destroy borrower satisfaction, with only 15% of transferred customers saying they are “very likely” to consider using the original lender in the future. Also, overall customer satisfaction in the mortgage originator drops by more than 20% when the loan is transferred, and customer trust in the mortgage servicer drops by 22% when the loan is transferred to a servicer different than the originator,” said Daniel Wallace, CEO of Haven. 

“By seamlessly handling servicing transfers, Haven Wallet works with originators and servicers to add clarity and consistency to the borrower’s servicing experience, ultimately empowering mortgage brands to serve as the single, trusted login for all of their borrowers’ financial needs.”

It is part of Haven’s product suite which to-date has generated a 2x increase in recapture for its partners.

Investors can also benefit through access to an active marketplace of originators seeking liquidity opportunities.

Haven is a SaaS platform that helps IMBs and servicers capture more value from their MSR. Integrated with leading subservicers, the technology provides a configurable platform to engage, educate, and enroll borrowers into new products and services.

Last month, PropTech Breakthrough awarded Haven with “Digital Mortgage Innovation of the Year.”

“Our mission is simple – to eliminate complexity from homeownership, because we believe owning a home should make people proud, not stressed,” Jonathan Chao, Haven Founder and Chief Product Officer, commented.