Rate Reset Revenue and Competitors

WHAT IS RATE RESET ? Rate Reset is a feature of a loan that empowers customers to reset their existing auto or mortgage loan electronically. Rate Reset is a simple and easy way to allow customers to lower their monthly auto loan payment and reset the terms of their mortgage without the cost and hassle of refinancing. HOW DOES IT WORK? The financial institution screens loans that qualify for reset, then notifies the customer of this simple and easy feature. Rate Reset's software platform provides a turnkey solution of legal documents (e.g. riders, addendums, disclosures, etc.) and marketing collateral for the institution. The member uses their institutions secure website to customize their auto or mortgage loan term, interest rate and monthly payment and review appropriate documents and/or disclosures. If the customer decides to execute the Rate Reset, they simply click the reset button, e-sign the loan document and in a matter of minutes have a lower monthly payment. BENEFITS TO YOUR INSTITUTION? Rate Reset automates loan retention and eliminates all of the back office cost associated with the traditional auto and Mortgage refinance. Rate Reset Protection built into your auto & mortgage loans provides your institution a competitive advantage in the marketplace. The reset functionality increases retention and the improved member experience increases over-all customer loyalty and stickiness. BENEFITS TO YOUR CUSTOMER? Rate Reset puts the customer in control of their finances. It allows them to easily extend their auto loan and lower their monthly payment, all without the cost and hassle of refinancing.