Does your Mortgage CRM have these tools?

By inflooens on February 24, 2021

does your mortgage crm have these tools


Mortgage CRM is the best way to get your client’s attention. It helps mortgage consultants or loan officers attract and retain customers. In a world where customers demand quick service, Mortgage CRM allows follow-up within minutes instead of days. With so much competition in the Mortgage CRM space, we are here to help you ask the most relevant question to your platform provider. Does your Mortgage CRM have the must-haves? What are the specific tools that are needed to deliver mortgage services efficiently and quickly?

Before we discuss the best Mortgage CRM tools, we need to understand

Benefits of Mortgage CRM

Mortgage CRM has to simplify and streamline the activities of loan officers or mortgage brokers. It helps you to close loans faster and efficiently manage your marketing efforts. Some benefits that these platforms deliver are

  • Personalize customer experience
  • Better communication with borrowers and lenders
  • Increase team productivity
  • Use of innovative technology to save time

Mortgage CRM makes a mortgage lender’s life easier but also helps in customizing the loan pipeline. There are many Mortgage CRM software available, so a mortgage lender has to choose what is right for business. We have discussed this point in our previous blogs. The types of Mortgage CRM software are:

types of mortgage crm

Figure 1 - Digital Mortgage Journey

The mortgage market is continuously changing. There is a need for a Mortgage CRM that is intuitive to change with your business' needs. Easy-to-use cloud-based systems are a part of Mortgage CRM software. You need the best Mortgage CRM tools to outclass your competitors.

Tools for Mortgage CRM

Mortgage CRM should provide broad-spectrum coverage for all kinds of business operations, with accommodative price ranges. The software gives a helping hand to mortgage lenders and loan officers. The Mortgage CRM tools necessary for any mortgage organization are:

  • 1. Referral and Lead Management

    Mortgage lenders and brokers depend on referrals to initiate the mortgage loan process. The referrals can be from past clients or current clients. 60% of customer referrals occur in the six months after loan closure, according to some estimates. Real-estate agents also provide reliable referrals to mortgage lenders. Another source is online reviews on websites given by customers. With a large part of business relying on referrals, Mortgage CRM software must have a reliable Referral and Lead Management System. The software should be able to track leads, monitor the progress, send automated emails, and analyze performance. After all, today’s leads are the clients of tomorrow.
  • 2. Loan pipeline management

    Loan Pipeline Management is achieved by the integration of Mortgage LOS with Mortgage CRM. Mortgage loan officers need to collect applicant information such as contact details and log call history for client interactions. They are also responsible for viewing loan reports, track loan processing systems, and status. The best Mortgage CRM software has to have a customizable dashboard that displays your sales, appointments, and social media interactions with customers. inflooens has the best Mortgage CRM integrated with Mortgage LOS has an easy-to-use portal that gives information at your fingertips.
  • 3. Real-time Mortgage LOS integration

    The integration of Mortgage LOS with Mortgage CRM provides real-time solutions to loan officers. It gives loan officers the ability to access client’s data in real-time, any place and anywhere. There are many advantages of this like the prevention of duplicate data entry, managing drip-marketing email campaigns to help customers in a step-by-step loan application, and automatic status updates for the borrower. Automated workflows help in achieving this objective.
  • 4. Automated marketing communication

    The best Mortgage CRM can send marketing communication through email or SMS to customers automatically. The time spent manually entering sales and marketing data is reduced by automation. Marketing events alerts are automatically conveyed to loan officers to keep them updated. Mortgage CRM gives reminders to mortgage lenders about annual premiums increase and mortgage insurance rates, which is a boon for reducing delinquency and increasing ROI.
  • 5. Marketing regulatory compliance

    Many industry-specific Mortgage CRM’s have regulatory compliance models. Mortgage lenders need updating on all the recent regulatory compliance regulations for the Mortgage industry. Mortgage CRM software must comply with the regulation policies from agencies such as FHA, VA, and HUD. We have discussed this topic in detail in our previous blog on Mortgage Audits.
  • 6. Post-close marketing

    Loan closure is associated with post-closure campaigns. These campaigns include personalized closing gifts for the clients as a reminder of the efficient service provided by the mortgage lenders and their team. Also, sending automated messages on important occasions like birthdays, anniversaries go a long way in building rapport with the clients. The building of strong bonds with the clients will increase future business opportunities for mortgage lenders.
mortgage crm tools

Image 2 - Mortgage CRM tools

Bottom line

So, do you have the same Mortgage CRM tools as mentioned above in your organization? The Mortgage CRM tools keep the mortgage lenders and their team organized, increase sales, and save time. You need to think carefully before choosing the right Mortgage CRM to avoid the headache of setting up and later migrating to a new Mortgage CRM if it does not do the work it is supposed to. inflooens provides the best Mortgage CRM, which is fit for your business needs. Get in touch with us for further information.

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