How Jeff Bode and Click n' Close are Pioneering Mortgage Affordability Solutions

Written by:

Steve Marcinuk

Date:

11 Mar 2025

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In a mortgage industry facing high interest rates and affordability challenges, Jeff Bode, President and CEO of Click n’ Close, is creating solutions that could reshape how Americans finance their homes.

As an early technology adopter in the mortgage space, Bode has spent decades developing systems that make mortgage origination more efficient, cost-effective, and accessible. Now, with innovative products like a shared appreciation down payment assistance program, he’s continuing to advance mortgage lending possibilities.

A Technology Pioneer’s Journey

Bode’s journey as a mortgage technology innovator began in June 2000, when his company collaborated with Calyx Point to develop a groundbreaking solution for mortgage brokers.

“We worked with Calyx and became the lender in point—we were the Wholesale Lender,” Bode explained. “This point allowed mortgage brokers to price their loans, underwrite their loans. We even had a closing module to where they could close their loans online.”

This early innovation set the stage for his future ventures. After successfully selling that technology to Aegis, Bode later developed his own loan origination system (LOS) and returned to mortgage banking. The proprietary technology provided Click n’ Close with the foundation to create unique lending products, including their current down payment assistance programs.

Digital Closing: The Underutilized Competitive Edge

One area where Click n’ Close has distinguished itself is digital closings. The company has been conducting digital closings through their LOS since 2016, and Bode is surprised more competitors haven’t embraced the approach.

“We save about $400 every time we close a loan by using a digital close and e-closing as opposed to a paper solution,” Bode said. “We close about 90% of our retail and wholesale business electronically with e-notes.”

This digital-forward approach has been a key factor in maintaining profitability during challenging market conditions. “In the past at least five years we’ve been profitable by virtue of, and we think a big part has been, the e-closing part of it,” he noted.

Learn more with Click n’ Close’s SmartBuy Calculator to explore digital mortgage options.

Addressing Affordability Through Innovation

In today’s high-interest-rate environment, Click n’ Close recognizes the reality of the “lock-in effect” – where homeowners with low interest rates are reluctant to move and take on higher-rate mortgages. “We’re leaving that customer alone, because that’s in their best interest to stay where they are,” Bode explained. “Economics dictate that they should stay in that house. And we’d be a fool to tell them otherwise,” he said.

Instead, the company is focusing on purchase business with innovative solutions that make homebuying more accessible. Their most notable offering is a down payment assistance program with shared appreciation, developed in partnership with the Rosebud Economic Development Corporation, a Tribal Government.

This program takes a different approach to the shared equity model gaining traction in the industry. Under Click n’ Close’s arrangement, the non-profit takes a 40% participation interest in the home’s appreciation for the first five years only. In exchange, they pay a premium for the second mortgage, which subsidizes the first mortgage rate to below-market levels.

The result is a solution that makes monthly payments more affordable while still allowing homeowners to build wealth. “The consumer ends up better off with the shared appreciation mortgage than they do with down payment assistance without shared appreciation, primarily because their payments are so much lower,” Bode explained. “With housing affordability as it is right now, that works out really well for the consumer to have a lower payment that competes with market rents.”

What makes this approach particularly innovative is how it leverages current mortgage-backed securities pricing dynamics. Bode pointed out that the spread between certain coupon rates is relatively narrow, meaning that buying down the interest rate can provide significant payment benefits relative to the cost.

“The consumer can afford a lot more house with that,” he said.

Looking Forward: Solar Financing and Market Outlook

While Bode is realistic about the challenges facing the mortgage industry in 2025, describing it as “going to be a tough year,” he’s excited about an upcoming product that leverages the Inflation Reduction Act’s incentives for renewable energy.

Click n’ Close is developing a program based on FHA’s 203(b) loan that will allow homebuyers to finance solar panels, wind power, and battery storage as part of their mortgage. Homeowners who make these improvements can then claim a 30% tax credit.

“Assuming that the improvements are $40,000 of solar panels and equipment and battery storage, they would get back the following year when they file their tax returns $12,000,” Bode explained. “I think that’s going to be a big deal.”

For mortgage brokers and correspondent lenders navigating today’s challenging market, Click n’ Close’s innovative products offer valuable tools to help clients overcome affordability barriers. By combining technological efficiency with creative financing structures, Bode and his team demonstrate that meaningful innovation remains viable even in difficult conditions, charting new paths forward for the industry.