What rate-drop alerts do
The rate-drop alert workflow is the single highest-ROI automation in the Mortgage Snapshot. It turns your past-client database from a dead asset into a recurring revenue source.
How it works:
- Import past clients — original loan amount, original rate, original close date.
- Daily rate watch — system checks benchmark rate (30-yr conforming default) every business day.
- Per-client break-even math — for each past client, projects monthly savings at current rate and calculates break-even given typical closing costs.
- Trigger conditions — fires when projected monthly savings ≥ $150 AND break-even < 30 months (both configurable).
- Personalized outreach — SMS + email goes to the borrower with their specific numbers.
What the borrower sees
When a past client’s math turns positive, they get a message like:
Hey Marcus — quick heads up. Rates dropped to around 5.875% today, and your loan from 2023 is at 7.5%. Based on your balance, the math comes out to about $312/mo savings, with a break-even around 14 months. No pressure — just wanted to let you know. Want me to run a real quote? Reply Y or call me at (xxx) xxx-xxxx.
— Sarah Chen, NMLS #123456 | Equal Housing Lender | Reply STOP to opt out
The numbers are specific to their loan. The tone is helpful, not aggressive. The disclosure is built in.
What you see
Your dashboard shows:
- Total past clients monitored
- Clients with active “math positive” triggers today
- Clients who’ve opened today’s alert
- Clients who’ve replied or clicked to schedule
- Closed refis attributed to alerts (closed-loop reporting)
Closed-loop attribution
When a borrower replies to a rate-drop alert and closes a refi, the snapshot tags the refi with “source: rate-drop alert” and the original alert date. After a few quarters you can answer questions like:
- What’s the average time from alert to close?
- Which alert message version converts best?
- What’s the lifetime revenue per past client in the database?
Compliance
Refinance solicitation is regulated. The alerts include:
- Equal Housing Lender + NMLS in every message.
- STOP keyword handler.
- Re-consent prompt annually (TCPA best practice).
- Clear disclosure that the projected savings are estimates, not commitments.
- Suppression of clients on the National Do Not Call registry where applicable.
What you need to provide
To run the alerts, the snapshot needs:
- Past clients’ original loan amount.
- Original interest rate.
- Original close date.
- Cell phone number (with valid TCPA consent).
- Email address (with valid CAN-SPAM consent).
We import this from a CSV during snapshot onboarding. Most originators have this data in their LOS or an old CRM — we help you extract it.
Your past clients are your next $100k. The snapshot turns them into it.
What benchmark rate does the system watch?
30-year conforming national average by default, sourced from a daily public feed. For VA-specialist or jumbo-specialist originators, we can configure a different benchmark.
What's the break-even threshold default?
Fires when projected savings ≥ $150/mo and break-even < 30 months. Both are configurable in the workflow. Some originators prefer more conservative thresholds (e.g., savings ≥ $800 and break-even < 24).
What if a past client opts out?
STOP suppresses all future messages. They're tagged 'opt-out' in the contact record and will not receive future automation triggers.
Can I send manual blast messages too?
Yes — the snapshot includes a campaign builder for one-off broadcasts. But the standing rate-drop alert is the workflow that runs even when you're not thinking about it.