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Home Equity Line of Credit (HELOC) Solution

Our company created the first Internet-based home equity credit application in conjunction with Zoot. They had it running in record time—just 90 days. We’ve been leveraging their decisioning technology ever since.

—Top 5 home equity originator


The home equity lending market has taken huge hits in past months and is trying to figure out how to recover. Many lenders have simply quit extending home equity loans in order to prevent losses, but this hurts both consumers and lenders. Home equity lines of credit (HELOC) can be safely extended with better risk management tools and attention to the automated processes.

Smart financial institutions (FIs) know the problem isn’t within the HELOC, it is within strategy, credit risk policy, and oversight of the technology. As noted by Bobbie Britting, TowerGroup research analyst, "Automation is not the problem—just don’t leave it on autopilot.”

How to Move Forward

Zoot’s HELOC solution offers lenders the flexibility, performance, and control needed to succeed in an increasingly competitive market.

  • Flexibility: Financial institutions (FIs) can configure the solution to meet their business objectives and customer service strategies;
  • Performance: Zoot’s infrastructure provides premier uptime, security, scalability, and decisioning speed; and
  • Control: Business users can make realtime changes without depending on IT resources.

These three capabilities provide the foundation for FIs to enable their HELOC lending strategies with current credit risk policy and enabling technology that provides a better customer experience.

End to End

This comprehensive solution includes workflow process management, credit decisioning , access to multiple data providers, and support for document processing. It can be used to support wholesale and broker channels while maintaining strict credit policy adherence. Business users have direct control over their business process and rules to ensure that changes can be rapidly deployed. Realtime business rule adjustments allow you to adapt quickly to market changes.

Easy-to-Use Interfaces, Seamless Integration

Since many loan applications require some form of manual interaction, we have provided intuitive review screens that function seamlessly with the automated process flow. Once any manual steps required for compliance are completed, the applications are able to continue in the automated workflow from the point they stopped.

A single connection through Zoot’s established Vendor Network offers all needed data and service providers (including appraisal, valuation, flood, and title vendors), ensuring that applications are completed promptly and efficiently for both the FI and the customer.

Zoot’s HELOC solution also gives you the ability to integrate analysis of data and customer intelligence into your home equity origination process, facilitating intelligent cross-sell offers and leading to greater customer loyalty.