HousingStack, powered by HousingWire and The Basis Point, lets you quickly comparison-shop tech solutions critical to your operations today. Plus, the Basis Point’s analysis drills in on ROI and critical nuances of the technology to help lenders make decisions.
Joe Welu of Total Expert and Jonathan Chao of Haven Servicing reveal how Total Expert is helping lenders win more business by unifying data, marketing, and compliance. This HousingStack demo shows the tech in action and explains why customer engagement is a critical part of the modern mortgage playbook. With analysis from The Basis Point, this session delivers what leaders need to know about tech that actually moves the needle.
#MortgageTech #Fintech #CustomerRetention #MortgageServicing
Joe Welu of Total Expert and Jonathan Chao of Haven Servicing reveal how Total Expert is helping lenders win more business by unifying data, marketing, and compliance. This HousingStack demo shows the tech in action and explains why customer engagement is a critical part of the modern mortgage playbook. With analysis from The Basis Point, this session delivers what leaders need to know about tech that actually moves the needle.
#MortgageTech #Fintech #CustomerRetention #MortgageServicing
Category
🤖
TechTranscript
00:00Hello to everyone in the HousingWire community. I'm Julian Hebron, the founder of The Basis Point,
00:04and welcome to Housing Stack Live. This is a live demo collaboration between HousingWire and
00:08The Basis Point launched at the Gathering Annual Conference this year, and it's where we take a
00:13look at key parts of the mortgage tech stack by category. And today we're covering the state of
00:18mortgage servicing fintech with special guests Total Expert and Haven. We're going to look at
00:24their integration, which creates the ultimate recapture platform for servicers. And before I
00:31tee up their joint demo, let me just set the stage with a few key notes. First, originations is huge
00:38and reliable, $2.02 trillion in new fundings per year on average over the last 30 years. But servicing
00:47is still the bigger opportunity with $14.5 trillion in mortgages outstanding in 2Q 2025.
00:54But we do have to look at this full life cycle as one if we're doing this right. You've got the
01:00borrower for between 1 and 12 months in a long lead purchase cycle like we have today. And if the
01:07software, including Haven and Total Expert, are helping us do our jobs better, we've got that
01:13customer for the life of the loan, ideally, and then some because then you retain them when that loan
01:20expires or is taken out by something new. Here are all the kind of functions. So on the
01:26origination side, you've got acquiring and nurturing the customer. And then of course, approving, closing,
01:31and selling the loans, all of which you could argue is nurture and funnel stuff. And then in servicing,
01:36you've got everything from customer care to hardship care. But then you also have things like home search,
01:42valuation, home buying and selling, home improvement, which then relates to refinances and other cash out
01:49ideas. And then of course, cross sell, which is especially important for banks, credit unions,
01:53etc. And then with Haven and Total Expert, you're going to see, does the tech stack truly enable easy
02:02interoperability across the cycle? This is the key to what you're going to see today from Haven and Total
02:09Expert of bringing this all together. And when you do, and you look at all those things that you're
02:14doing for a customer, not on a timeline, but in a continuous circle, this is what changes the customer
02:21for life moniker we use in our industry from catchphrase into reality, right? And the way that
02:29the basis point looks at how to get this done is there's four basic tech priorities for customer for
02:36life. It's acquire, including that conversion and nurture it's the servicing and it's the repeat.
02:44And of course that creates the retention by definition creates a new origination and there's
02:51nowhere to go, but up on retention, right? The industry average is right now at 24% on, on customer
02:58retention and servicing. But best in class players, 83%. I want everyone to remember that ahead of what
03:07you're about to see from Haven and Total Expert, because that's the best in class by large players
03:15here in the industry today. But as you're going to see from Haven and Total Expert right now, they have
03:21stats based on what they're doing together that are very similar, almost exactly similar to what those
03:28stats are. So what we're going to do is Haven CEO, Jonathan Chow is going to kick us off. He's going to
03:34walk us through the Haven customer engagement platform, which you'll see is truly consumer grade
03:40customer engagement. And then you're going to have Joe Well, you, the CEO of Total Expert walk through
03:46what happens when you're taking all of that engagement and the consumer opt-in that happens as part of that
03:52engagement, and then use Total Expert to turn that into real deals that are relevant to the consumer
03:59and powered by voice AI that then connects that, that borrower to their original loan officer. So
04:08it's the combination of the tech and the human in the loop. So with that, Jonathan's going to kick us off.
04:13Jonathan, I'm going to hand it over to you. You're going to hand it to Joe, and then we're going to come
04:17back and do some Q&A together after you guys go. Thanks, Julian. With that, I'd like to share with
04:25you a little bit about the Haven embedded servicing platform. My name is Jonathan Chow. I'm CEO of Haven
04:32Servicing, and we've integrated across mortgage subservicers and servicers to create a platform
04:40that allows you, the lender, to embed servicing directly into your portal and your app. With that,
04:46we've created a turnkey, white-labelable home ownership portal and app for you to give to your
04:53borrowers that already come with servicing embedded. So you can have the benefit of having your borrower
05:01and customer come to your website for life. And because of the embedded integrations, we're able
05:07to create some amazing results from just keeping your borrower engaged with you and helping them
05:13monitor their equity, their rates, and their escrow. The key point being gone are the days where your
05:20borrower logs into someone else to pay their mortgage. Now you have a monthly touch point with them and a
05:25lifelong relationship. So let me show you some of the exciting things we've been able to do about this.
05:31As I dive in, one of the things that we immediately created this experience around was to let you
05:38welcome the homeowner to homeownership after they close the loan. So as they log in, you'd imagine
05:45many of the standard setup pieces, like how they get their statements delivered.
05:50But another key one that we've been really excited about is signing them up for monitoring of their
05:56rates, escrow, and equity. So we have nearly 90% of users who go through this process, raise their hand,
06:04and say, please email me, send me a push notification, text me, call me, let me know when you've found a
06:10way to optimize my finances, because you're with me throughout the life alone and you're watching my
06:14rates. So this is one of the exciting things that many of our clients have been able to make use of.
06:20And not only that, we have nearly three out of four borrowers tell us what their financial goals
06:26are every year. So we can tell that maybe 8% of them want to move to a new home, 30% of them want to pay
06:33house high cost credit card debt, you know, 14% want to make home improvements. This is really
06:38valuable data for not only understanding when you might want to reach out to someone about refinancing
06:43or helping them with a new mortgage or cashing out, but also how to tailor the messaging for the
06:48most effective way to help them with their goals with your solutions. Now this all comes together
06:54into a portal and a package where it's not just where you go to pay your mortgage, it's where you go to
07:00stay on top of your finances. And so we've built in these modules that automatically integrate across
07:08home valuation providers to provide a home equity real-time update so that you can track your net
07:13worth as it grows. It integrates into your pricing engines so it is able to tell you estimated rates
07:20every week and whether or not it appears lower or higher than your current rate if you're thinking
07:24about refinancing or shopping for your next mortgage. We integrate into the subservicers escrow
07:30calculations so we can turn it from a surprise when your monthly payment goes up into a proactive
07:36estimation of, you know, when you can optimize and save money on insurance and property taxes.
07:44We'll also integrate into your systems to allow your loan officers to be present throughout the
07:50experience as a potential person to ask where, for example, is now the right time to finance.
07:57Leveraging all these connections to, you know, have all the specifics around the loan details,
08:03around your pricing strategies, but really to serve as a contact point to capture consent to reach out
08:10and say, hey, I do want to talk to someone. And now, you know, it's really amazing that we're able to
08:16have all this data engagement. But the real issue is if you're not taking advantage of it in real time,
08:22there's a lot of leads and business you're leaving on the table. So I'm really excited that we're partnering
08:27with Total Expert and their customer intelligence platform to help you automate outreach and take
08:33advantage of this so no business gets left behind. And with that, I'd like to welcome Joe.
08:37Thank you, Jonathan. And amazing experience that Jonathan just showed that Haven is able to
08:45enable lenders with and really the what we believe is the future for lenders that want to be customer
08:52for life. And so if I look at the white label experience that Jonathan has laid out, your ability
08:59to capture insights and then use those insights to fuel engagement with your customers so that you keep
09:06your arms around them and retain them is a powerful combination. Now, as a lender, you might be saying,
09:12for me as our organization to be world class, like the best in the world at recapturing and retaining
09:19customers, we're at a disadvantage because we don't have a full-scale call center with highly trained
09:25salespeople. I'd like to introduce to you one of our newest capabilities, our Voice AI Sales Assistant,
09:31which gives every lender the ability to have the most highly trained salesperson engaging with their
09:38customers with intelligence from experiences like Jonathan has just shown you and engage those
09:45customers with limitless capacity. And go ahead and hit play, Jonathan. Hi, is this Jonathan?
09:53Yeah, this is Jon. Hi, Jon. This is Brianna from Expert Bank on a recorded line. My colleague Ron did your
10:00home loan for your property in Lincoln back in 2023. How are things going for you today? They're fine, thanks.
10:07Glad to hear that. So, I was reviewing your loan details with Ron and we saw that with the new
10:13interest rates coming out, you might be able to save about $700 on your monthly payment. I wanted to see
10:19if you would like to get set up with that. No, not right now. I'm already working with somebody else at
10:25the moment. Oh, cool. Who are you working with and have you already been quoted for a rate?
10:31Yeah, they were thinking they were going to give me around 6%.
10:34Taking a loan out on your house is a really important decision. So, here's what I suggest.
10:40Why don't we go through the initial application steps now? It should take about three minutes and then
10:45you will get a second look at how much better you could do with a refinance. If it's better than 6%,
10:50you will potentially save yourself a bunch of money or hassle. How does that sound?
10:54Yeah, I mean, I guess it doesn't hurt to compare. I guess, will there be a hard credit
11:00pull? I don't really want to impact my credit score right now. No worries. There's no hard
11:05credit pull or credit check. We do a soft credit inquiry, which has no impact on your credit score.
11:11Does that work for you? Yeah, that works. Great. So, a quick rundown of this call. I'll confirm a few
11:19pieces of info with you and then we'll set you up on a review call with a senior loan officer. They will
11:24talk through the best loan options for you and help you figure out exactly how much you will be able
11:28to lower your monthly payment. Everything should take around three minutes. Does that sound good to
11:33you? Yeah, it sounds fine. All right, let's get you scheduled for a call with a senior loan officer to
11:40go over your options. What time works best for you later today to speak with my colleague? Um, I've
11:47actually got to get on a plane later today. Can we talk sometime tomorrow? Sure thing. How about
11:54tomorrow at 3 p.m. or 3 30 p.m. Central Time? Let's do 3 30. Great. You are all set.
12:02And so the completion of this, what you've just experienced is the insights being gathered from
12:19the Haven experience triggering a voice AI call to the customer rather than waiting for a human in a
12:26call center to potentially pick up that opportunity. You can do that immediately in the moment that
12:31actually matters. And then ultimately transfer that bring the human into the loop as part of that
12:36retention strategy that recapture strategy. And we believe that combining these capabilities in an
12:43integrated way in automating that recapture engine gives you the ability to to win that customer for
12:50life relationship. This is incredible. I want to leave this screen up for a second. If it's okay,
12:56I want to start the questions here and then I'll back up. I want to start on the TE side,
13:00but then I'll back up to the Haven side. So this borrower said that they had been quoted six percent
13:08already. And so it looks, Joe, like what's happening here is that TE, I presume, is hooked into
13:17this lender's particular pricing engine and it is showing a quote of five and seven eighths. So right away,
13:25the loan officer has that data as well. Is that correct?
13:30Correct. So the system's integrated to product and pricing engines and also the record,
13:36the consumer record, which will include insights that come in from the Haven experience. And the AI
13:43agent, the voice AI agent that you just heard has the ability to take those inputs and have the highest
13:48quality, most relevant conversation at that moment. And then ultimately, when it brings the human back into
13:53the loop, you can see here, it infuses that information back into the record, makes that
13:58available in the contact record inside the system. So the human picking up the conversation
14:03can be seamless in how they converse with the customer.
14:06All right. Now, if I may, that was AI, correct? And I say that because the voice inflections,
14:17everything else were early enough still in AI. The basis point looks a lot of AI, including voice AI.
14:24This is one of the first ones that I've seen or heard that is actually sounds like a human. So
14:32that was AI, correct? That was not a human loan officer.
14:36100% AI generated. Yes.
14:38And so on that note, the AI is also at this point gotten smart enough to deal with things like,
14:46as an example, scheduling, because this guy was like, wait, I can't do that. But the AI gets all
14:52that and they get it because they're able to, it's because they're also hooked into the LO's schedule as
14:57well. Yeah. You can integrate with things like Calendly and other scheduling applications to look
15:03for availability in the appointment, schedule that appointment. What we didn't show that's also
15:08possible is at a certain moment, the AI agent is smart enough to understand there's going to be a
15:15high probability that they're going to want to talk to a person. And then at that same time,
15:20before they actually get to that moment, it will call the loan officer, give them a quick preview of
15:25the scenario and then see if they're available to do the live transfer. If they are at a live
15:29transfer, if not, they can schedule an appointment based on availability. And so there's just amazing
15:35capability that we've seen improved just at a rapid rate over the last six months.
15:42Well, I'm going to come back on a question about that, but I want to save it for last.
15:47So instead for now, Jonathan, I want to go to you for a minute because you put up some slides
15:52up in the very beginning. And I just want to verify that I, that I saw this stuff, correct.
15:56Okay. So your opt-in rate, when people first sign up for the white label version of Haven,
16:02that they are labeling as their own lender brand. It was, it was like 87 and change. So like 88%
16:10opt-in rate for people who are borrowers, who are engaging on the home saying, I want to be
16:17receiving information from my lender about new ideas, new opportunities, correct?
16:24That's correct. Because we've displayed it as a service and a feature directly to the borrower.
16:31We see really high opt-in rates that say, yes, of course, I want to know when I'm eligible for
16:36something cheaper. And so that's been one of the hallmarks of the ability to bring all the systems
16:41together to create that service for your borrowers. All right. For everybody who's listening,
16:46I just want to underline this point. The reason I felt like that's important,
16:49and thanks for verifying the stat, 88% of people are opting into this. Just coincidentally,
16:55that's in line with best in class, 83% customer attention that's touted by one particular player
17:02out in the space. But this is that same level of engagement, but for everybody else, right?
17:10I think that matters. I wanted to underline it. There's another stat that I just want to verify
17:14that I saw it correctly in the beginning because it went fast. But I think it said 70% of borrowers
17:22are setting those goals when they're doing the onboarding and they opt in, but then they set some
17:29goals about specifically, what do I want to opt in for? That was at 70%, correct?
17:35That's correct. You can see that the platform is designed to give lenders everything they need to
17:42be more than just a place to get a mortgage and pay your mortgage. Because homeownership is such an
17:48intimate part of Americans' lives, we're packaging all these things for lenders to provide the ability
17:53where why would a borrow go anywhere else if they have needs for their home or their finances?
17:57Thank you. And now, Joe, I'm going to loop it back to you. And I use that word very specifically
18:03because this is the takeaway for everybody. Human in the loop. We talk about this with AI all the time.
18:10This demo is just that because the borrower is using Haven to start, but the human comes into the
18:17loop after they engage with the AI and are able to then have the loan officer that they worked with
18:23originally engaging with them and bringing this home as a real deal. So this is all very advanced
18:32to me. And Joe, I want to come back to the thing that we just left off on. How long was this live
18:40with TE customer data before you recorded this particular call? In other words, how fast is this
18:48stuff learning? Because it seems pretty advanced to me, mainly fast. So so this is a matter of weeks.
18:55We saw our initial customers get to parity with the human call center agents, the initial human call
19:02center agents within two to three weeks. And we have seen it in some cases dramatically outperform since
19:10then, but almost always higher than than parity with with the human call centers. And really what it
19:17does ultimately, if you think about, it allows you to focus the really highest quality conversations,
19:23the consumers are ready to talk to a person. It's a better loan officer experience as well. So you're,
19:29you're able to really maintain a higher caliber of person that's going to take care of your customer
19:33if you eliminate sort of all of the, you know, the other things that are maybe not high value
19:39conversations, right? That's right. And we've talked a lot for the last, I don't know, year or so about
19:47training the models, everybody. This is a trained model. It's ready to go. So that's the part to me
19:54that I also really like. So I just want to say thanks to you all for, for showing this today and, and the
20:01power of how you engage on the servicing side to create this servicing originations loop that then
20:10becomes customer for life as a reality. It's no longer a catchphrase. This is what makes it real.
20:18So thanks to Joe at Total Expert and Jonathan at Haven for bringing us forward as an industry.
20:24All right. What an amazing session specializing in servicing of housing stack live today from
20:31Total Expert CEO, Joe Well, you and Haven CEO, Jonathan Chow, what they are doing not only with
20:39Total Experts Voice AI, but Haven's truly consumer grade customer engagement. And as you can see how
20:46all that comes together, if that's not changing the state of mortgage servicing fintech, I don't know
20:52what is. So I just want to say thanks to Haven and Total Expert. I want to say thanks to Housing Wire
20:58for its collaboration with the Basis Point on Housing Stack Live. And we're all just so excited to be able
21:04to drive mortgage servicing fintech forward for the industry.
Recommended
1:09
|
Up next
9:14
1:56
5:24
2:12
1:01
17:44
17:19
1:01
0:58
1:10
1:01
Be the first to comment