As a loan officer or mortgage broker, you know how important it is to comply with laws and regulations. Several necessary regulations affect mortgage marketing. Ensuring that your brochures, advertisements, and emails follow regulations is paramount. 

Here are five regulations and restrictions to consider when designing your mortgage marketing strategy:

1. Mortgage Acts and Practices — Advertising

Otherwise known as Regulation N, this act governs advertising within the mortgage industry. It prohibits deceptive claims in mortgage advertising and other commercial communications. Examples of misleading claims include:

• Advertising a low fixed rate that is only applicable for a short period
• Failing to include significant loan terms, such as the length of the loan or type of loan
• Implying that the mortgage lender is part of a government agency when they are not

Mortgage lenders and brokers must be cautious not to use misleading advertising. Any brochures should be reviewed before sending them to potential customers.

2. Fair Housing and Equal Opportunity Act

The Fair Housing and Equal Opportunity Act prohibit discriminatory advertising practices. Mortgage ads may not result in bias according to age, nationality, or race. 

Ads should be straightforward and present lending opportunities to anyone. There should be no preference given to certain classes of people. For example, an advertisement for an apartment cannot include the phrase “no children.” It also may not say “no wheelchairs” or anything else discriminatory.

3. Equal Credit Opportunity Act

The Equal Credit Opportunity Act requires loan approvals made based on creditworthiness. Thus, a lender cannot prevent someone from applying for a mortgage based on a factor such as age or race. 

The act aims to ensure all people have access to mortgage loans based on their credit histories. If a mortgage lender advertises a specific loan, they can’t include language such as “no foreign applicants.”

4. Truth in Lending Act

The Truth in Lending Act applies to any advertisement designed to promote consumer credit. It contains two main points that apply to real estate credit. 

First, an advertisement cannot promote lending terms that are not customary. If a down payment of 20% is required to buy a home, an ad cannot promote $1,000 down payments. 

Second, financing rates must be visible. If a promotional interest rate applies for a few months, the annual rate must be in the same point size and typeface as the promotional rate.

5. Consumer Financial Protection Bureau (CFPB) Rules

The CFPB oversees the regulation of marketing materials for real estate lending. It often sends warnings and notifications when companies are breaching advertisement requirements. A recent sweep found lenders were sending ads with government stamps on them. The lenders have no affiliation with any government agency.

How a Mortgage CRM Can Help You

BNTouch offers a Mortgage CRM for those seeking to manage their advertising efforts. The CRM can help you remain compliant.

For a free demo, contact us today!

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Advertising in the mortgage industry is very regulated with mortgage regulations. There are many restricted words and phrases. Mortgage lenders must make sure that they are compliant when marketing. They cannot discriminate between buyers. All loan terms and interest rates must be clearly defined. Violations of the rules can lead to fines and penalties. To stay compliant, make sure your company follows the rules. A few regulations to be aware of are:

1. Regulation Z

Regulation Z is the Truth in Lending Law. It requires that advertising for mortgage loans is not misleading. Loans must be available to those who qualify. The primary goal of Regulation Z is to provide consumers with the actual cost of credit. Lenders must disclose interest rates in writing, and they must use clear language about loans and credit terms. This allows consumers to compare credit terms more knowledgeably. 

Under Regulation Z, lenders must provide consumers with the nominal interest rate and the annual percentage rate (APR) of a loan. The APR is more realistic than the nominal rate, and it’s comparable between lenders and includes any fees the borrower must pay. The advertising regulation also allows consumers to cancel loans within a certain period, and the Federal Trade Commission enforces it.

2. Regulation N

Regulation N is the Mortgage Acts and Practices in Advertising law. It includes rules and requirements for commercial marketing materials. The law was established by the Consumer Financial Protection Bureau (CFPB) and the Federal Trade Commission (FTC). Mortgage Act decides what financial products constitute mortgage credit products. It also tells mortgage brokers how they may advertise their products to clients.

Regulation N prohibits deceptive claims in mortgage advertising. For example, lenders cannot advertise a low fixed-rate loan without specifying how it will change over the long term. Other examples of deceptive claims include:

• Not indicating consumer fees associated with a mortgage
• Misrepresentation of the type of mortgage
• Not providing the variability of interest rates

All loan officers and mortgage brokers must follow Regulation N.

3. Regulation B

Regulation B is known as the Equal Credit Opportunity Act. ECOA does not include technical requirements for advertising. It does prohibit mortgage lenders from practices that discriminate against certain factors. These factors include age, gender, ethnicity, nationality, and marital status.

Congress created Regulation B to ensure that loans are available to all creditworthy customers. This means that any factor not related to credit cannot be used when making a loan approval decision. Regulation B covers a creditor’s actions before, during, and after a credit transaction. The primary purpose of Regulation B is to prevent discrimination. 

Using BNTouch Mortgage CRM

BNTouch Mortgage CRM can help loan officers and mortgage brokers maintain marketing compliance. The platform offers many marketing templates that mortgage professionals can use. It also includes a digital loan platform to simplify the borrowing process.

If you are seeking a Mortgage CRM, contact BNTouch for a free demo today!

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Typically, customer relationship management (CRM) software is associated with professionals that engage in traditional consumer sales. However, modern CRM software can be a valuable asset to mortgage brokers as well.

The mortgage industry is becoming increasingly crowded. Your loan officers need all of the help they can get as they strive to optimize productivity. That is why you and your team need a great CRM solution.

CRM technology includes a broad range of tools and features that will help you better serve your clients. These tools will also enhance profitability, increase transparency, and help you grow your business. By integrating a CRM solution into your mortgage company, you can:

Streamline Communication with Clients

As a loan officer, you understand just how important it is to keep clients in the loop throughout the entire lending process. If you fail to do so, you may lose out on business and damage your brand reputation.

Unfortunately, keeping up with all of your clients can be a major hassle. Each client has a different preferred communication medium. While it is important to use communication channels that accommodate your clients, this approach can also increase the chances that you will miss out on an important message.

A CRM remedies this issue by unifying multiple communication channels into a single platform. Your mortgage broker can access texts, emails, and more from one convenient mobile app.

Improve Lead Distribution

Tired of starting each day with tedious tasks like manual lead distribution? If so, that is one more reason you need to adopt a cutting-edge CRM solution. The best CRMs include automated lead distribution functionalities.

These tools will seamlessly distribute leads received from your lead provider. As an added benefit, they can integrate with proprietary lead generation systems as well. Think of all the time you will save by eliminating the need to manually assign leads to your loan officers.

Facilitate Digital Loan Management

Most modern consumers expect to navigate the loan process digitally. If your mortgage firm is still relying on physical document management practices, this will diminish the borrower experience.

By deploying a leading-edge CRM, you can simplify and enhance the borrower experience. Your team will be able to access online 1003s, manage documents digitally, and much more. This will translate to streamlined loan processing, thereby allowing your loan officers to serve more clients.

Gain Valuable Business Insights

If you hope to grow your mortgage business, you must be able to accurately measure both team and individual performance. 

A great mortgage CRM will help you do just that by providing access to data analysis and reporting tools. These tools are customizable so that you can focus on performance metrics that matter most to your business.

If you would like to learn more about why you need a CRM, connect with BNTouch. You can explore our product solutions for individuals, teams, and enterprises.

For a more hands-on option, request your no-obligation demo and try our product for yourself.  

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While customer relationship management software can be a valuable asset for any loan officer. Mortgage CRM tools are not all created equal. If you want to ensure that you find the best solution to meet your needs, ensure that it includes the following tools:

1.   Customer Alerts

Customer alerts ensure that you never forget to reach out to a current or past client. 

Common alerts include birthday reminders and refinance notifications. Something as simple as sending out a birthday message can have a big impact. It is a great way to leave the door open for future deals. 

Refinance notifications may help earn repeat business as well. Remember, that every client wants to save money on their mortgage payment. 

2.   Multichannel Communication

Every client has different go-to communication preferences. Many like email, while others prefer text messages. Some even want to communicate through social platforms or messenger applications. 

This is why you need a CRM that merges many communication channels into a single app. 

CRMs that include these features send your loan officers and other partners a notification any time they receive a message. This allows them to respond and maintain open lines of communication with clients. Great communication is key to a great lending experience. 

3.   Automated Lead Distribution

Manually assigning leads to loan officers is time-consuming and downright frustrating. To make matters worse, handling this manually opens the door for errors. 

CRMs with lead distribution tools allow managers to automate this process based on team member performance. This approach rewards high-performing team members. Then in turn incentivizing other loan officers to up their game. 

4.   Reporting Tools

Analytics tools allow supervisors to easily track individual and team performance. These tools ensure that loan officers are performing at optimal levels. Reporting tools also allow lenders to identify concerning trends and take necessary steps to remedy these issues. 

5.   Digital Document Management Capabilities

Processing loans using paper documents is inefficient and tedious. That is why every great CRM should include digital document management capabilities. Such a platform will improve the borrower experience and speed loan processing. 

When searching for a CRM, ensure that the digital loan platform includes an online 1003. 1003 is one of the most common lending forms. In addition, it should also send out automated processing updates via push notifications. 

This feature will notify mortgage brokers when a borrower takes action on their account. From there, they can log in and review documents, request more information, etc.

BNTouch: A Leading-Edge CRM for Mortgage Brokers

The BNTouch platform is an all-in-one customer relationship management solution designed for loan officers and mortgage brokers. Our software includes all of the tools outlined above and much, much more.

If you would like to try our technology firsthand, we invite you to schedule a free demonstration. 

You can also chat with our sales team to learn more about our platform’s pricing, tools, and features.

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As a mortgage broker or loan officer, you want to make sure that you share current deals with your clients. You need to be on the hunt to grow your customer base. What better way to do that than using marketing designed to attract new clients? When setting up new advertisements, also meet local laws and regulations. The best way to do this is to invest in customer relationship management (CRM) software.

What Is a Mortgage CRM?

A mortgage CRM helps mortgage brokers and loan officers run their front-end operations. It also allows companies to manage relationships with their prospective and existing customers. A CRM helps manage and grow customer relationships across the entire client lifecycle. It’s an opportunity to build brand equity, improve satisfaction, and make more sales.

Why Is a Mortgage CRM Important?

Mortgage professionals must understand the risks associated with breaking regional and federal laws. A powerful mortgage CRM can help professionals stay within regulations. Managing the customer relationship life cycle is essential for staying ahead of competitors. A mortgage CRM helps mortgage professionals protect their business while increasing clients.

While compliance is substantial, so is understanding sales productivity. CRMs can notify you when to send a follow-up email. They allow you to track deals through the sales pipeline. A CRM can also identify new sales opportunities. Once you have started a sale, the CRM can provide you with reporting tools. These tools show where your leads come from and how much you have sold.

A mortgage CRM can increase your standard of service and support. You can build distinct customer profiles that include preferences and location information.

The CRM will notify you of churn risk and customer sentiment. This way, you can build up your customer relationships. The CRM can offer survey features for keeping track of how satisfied customers are. Mortgage brokers can also check ratings and show professionals the patterns.

What Are Some of the Regulations a Mortgage CRM Should Manage?

Privacy and data protection are essential to customers, and regulators recognize that. Thus, many laws are in place to limit the types of contact that marketers can use. Some regulations only apply to the mortgage lending industry. Specific compliance measures that a mortgage CRM software solution should include are:

1. Respect for Consumer Preferences and Privacy

A robust mortgage CRM software should include options to manage consumer preferences. There should be options to manage data privacy. Several laws give customers the right to limit spam and notifications. A few of these laws include:

• CAN-SPAM Act: Requires ability for customers to opt-out of email notifications
• Telephone Consumer Protection Act (TCPA): Customers can ask not to receive phone calls
• California Consumer Privacy Act of 2018 (CCPA): Personal informational and is not saved

Each one of these regulations gives consumers more control over advertisements. A robust mortgage CRM solution can ensure that clients’ requests are well-managed, allowing mortgage professionals to respect relationships with customers.

2. Approval Process for Marketing Materials

Some workers may be in charge of making marketing materials for potential customers. A specific person approves the roll-out of the advertisement. The official should have an understanding of the regulations related to marketing materials. They should only support those items that follow the rules.

A CRM can help the process by allowing for custom rules related to marketing materials. Professionals send finished advertisements to a designated approver in the mortgage company. Once approved, the company releases them for distribution.

3. Track and Audit Communications

Any mortgage CRM software should let marketing managers track the performance of ads. This ensures messaging remains on topic. The CRM can also watch the effectiveness of the communications sent. If a marketer sees that an advertisement doesn’t have the right effect, they can make adjustments. The marketer can adjust the poor-performing marketing communication or create a new one.

People who oversee compliance with regulations may audit companies. These regulators can ask to see evidence of communications a company sent. This may occur if a customer complains or by chance.

Regulators encourage companies to follow current laws through their audits. If a company is not following those laws, it may receive fines or other penalties. Having a mortgage CRM that tracks marketing communication can be helpful, and this is especially true if regulators audit the company.

4. Standardization of Disclosures and Legal Statements

Mortgage companies must include disclosures, NMLS numbers, and other licensing information in advertisements. A mortgage CRM can ensure that ads have legal disclosures and licensing information. Once a program includes disclosures, brokers and lenders can apply it to messaging.

Some larger companies operate in many areas with different laws. Such companies may need information about each of their locations. Marketing professionals can work with their lawyers to follow laws and regulations. They can then insert disclosures into all communications in these locations. This is especially important for automated messages sent to potential and existing clients.

5. Meet Equal Credit Opportunity Act Requirements

Mortgage brokers and lenders are not allowed to send marketing materials that discriminate. Discrimination can occur between those who have good credit and those who don’t. Marketing materials must be available to anyone who wants to know about a new home, and this should happen regardless of their credit.

The Equal Credit Opportunity Act (ECOA) keeps lenders from discriminating against credit applicants. No lender can deny a borrower based on discriminating factors. A CRM solution can send alerts if materials don’t follow the rules.

6. Meet Fair Housing Act Rules

The Fair Housing Act (FHA) prohibits discrimination by providers of housing. This includes landlords, real estate companies, and lenders. Under the FHA, providers can’t deny housing based on prejudice. Discrimination includes race, religion, sex, national origin, familial status, or disability.

If the Justice Department becomes aware of potential discrimination, they may file suit. Such a suit can have terrible results for the mortgage broker or lender. Having a powerful mortgage CRM software solution can help. The CRM can maintain a fair balance in marketing communications. It can suggest images that prove a company’s commitment to diversity.

7. Compliance with Real Estate Settlement Procedures Act (RESPA)

Any mortgage broker or lender must follow RESPA. This act prohibits the use of kickbacks for referrals of business. It prohibits loan officers and real estate agents from compensating one another. Yet, in reality, most lenders and agents depend on each other for the company. A mortgage CRM that meets RESPA can help ensure effective compliance. It can do this by balancing the needs between marketers and customers.

Under RESPA, loan originators must give borrowers a good-faith estimate of loan terms. This estimate must also include closing costs. Compliance with RESPA is mandatory for mortgage brokers and loan officers.

8. Adhere to APR Requirements

Whenever interest rates are in an ad, the annual percentage rate (APR) is, as well. APR requirements help protect consumers from any misleading interest rate quotes, and quoted interest rates must include an APR.

A mortgage CRM can help mortgage lenders and brokers meet the APR requirements. Marketing materials that go through the CRM must contain an APR in the same size and format as the quoted rates. These rules include matching the size, style, and location of the APR and quoted rates. While most CRMs will calculate the APR, users should be able to reconfigure it if it does not appear to be correct.

How Can Using a Mortgage CRM Benefit Real Estate Professionals?

A mortgage CRM software application can do a lot for professional mortgage brokers. These software solutions can help mortgage brokers, and lenders save time. They increase efficiency and help companies follow regulations that govern the industry. They can boost lead generation, allowing a company to grow its clientele.

The analytics and reporting modules allow users to review marketing performance. Users can make adjustments to engage more customers. The CRM helps real estate professionals stay in line with the laws and regulations.

A mortgage CRM allows you to store and organize your client data. In turn, this makes it easier to stay in touch with clients. You can give them quick updates on the loan process. You can also update them about new mortgage rates and housing trends.

A CRM software solution helps your company be more efficient. It can manage regular tasks like employee scheduling and managing contracts. There are a lot of great features included in a CRM.

How Can BNTouch Help Mortgage Brokers and Lenders?

BNTouch is a mortgage CRM designed for real estate professionals. It gives users the ability to automate their marketing and convert more leads. Professionals can also stay top of mind with borrowers and recruit new partners. The CRM includes a digital loan platform designed to improve the borrower experience. This platform provides digital document management and in-processing updates.

Reach out to BNTouch today for a free demo of our mortgage CRM software!

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Effective management is important no matter what industry you’re in, but as a loan officer or a mortgage broker, it’s essential. In the lending industry, the way you manage your business does more than help make your dreams a reality. It helps your clients make their dreams come true.

Here are five reasons that effective business management is important for lenders:

Keeping You Focused on Your Common Purpose

Every business is guilty of a bit of “mission drift.” But as a lending institution, it’s vital to remain committed to your common goals. This need applies to the mission of your company itself, as well as the immediate goals of the projects you take on.

Your clients will appreciate a team that stays focused on customer needs. Staff members may also find greater satisfaction in contributing to this common purpose.

Promoting Consistency and Trustworthiness

Effective management creates consistency and transparency across all business processes. For your clients, this means that they know exactly what to expect, and this deepens their trust in you as a lender.

For example, if you’re a mortgage broker, it’s important to develop a rapport with your clients. Many borrowers are going through the process for the first time. Proper management allows you to be open and transparent about what is going on. This openness can deepen your clients’ confidence in you as well as the lending procedures.

Increasing Accuracy

Mistakes happen. But for a loan officer, mistakes can undermine the integrity of your institution. Effective management can standardize critical processes and introduce solutions that reduce errors.

Sometimes, this means using the latest technological resources to make improvements. It can also mean providing the tools and training your staff requires to reduce errors.

Encouraging Innovation

Sure, it’s helpful to adopt consistent practices. But it can also be helpful to introduce new ones.

Effective business managers find ways to bring new solutions to the workplace, but they also find ways to listen to the contributions of others. Your team may provide insight that improves the way you handle business or serve clients. By listening to these suggestions, you could change the way you do business.

Creating a Culture of Belonging

During the “Great Resignation” of 2021, many employees left their jobs in search of new ones. For some, it was a matter of money, but others felt motivated by their workplace culture.

Effective management creates a space where all team members feel valued and respected. This environment can be important for retaining strong staff members. It also attracts new ones.

The lending industry, as we’ve noted, demands consistency and accuracy. Retaining star employees ensures that you continue to meet these goals. It also means you’ll spend less time training new employees and can stay focused on your clients.

Tools for the Trade

The BNTouch CRM platform has helped over 700 mortgage lenders grow their businesses. Our tools can help you manage your team, as well as promote stronger customer engagement. See for yourself by requesting a demo, and learn how our tools can take your organization to the next level.

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The mortgage brokerage industry has become more competitive than ever before. In light of this, mortgage brokers must strive to set themselves apart. They should offer a seamless lending process. Great customer service and consistent communication with their clients are also important. But this is often easier said than done.

Loan officers like yourself juggle many responsibilities during any given workday. Despite your best efforts, you may forget things. It’s important not to miss following up with quality leads. Sending out a birthday message to past clients is also easy to overlook. 

Specialized customer relationship management software for lenders can help avoid these issues. Below, we explore the benefits of a lender-specific CRM solution. We look at what impact it can have on your business. Let’s get started.

What Is CRM Software for Loan Officers?

A CRM platform is a comprehensive program. It’s designed to help you manage customer relationships. The software will provide you with easy access to important data. Data like client contact information, loan statuses, documents, emails, and more. A mortgage CRM will serve as your one-stop-shop for all vital customer information.

But the best CRM platforms do much more than merge your data. These solutions often include automated marketing tools, birthday alert reminder functions, and more. With the right CRM software in your corner, you and your loan officers can dominate your region.

Benefits of CRM Software for Mortgage Brokers

Now that you know what CRM software for mortgage brokers is, let’s turn our attention to the benefits of this leading-edge technology. By investing in great CRM software, you can:

Enhance Knowledge of Customers

If your team is not currently using a CRM solution, then client contact data is likely spread across several different mediums. This “old-school” approach works fine when you are managing only a couple of clients. But it will fail as you attempt to get new clients and expand your business.

A CRM solution for mortgage brokers will serve as your own personal “cheat sheet.” Anytime you need to look up information on a client or lead, you can do so with a few quick taps on the keyboard.

Making this information more accessible will give you extra time to follow up with prospects or contact quality leads. A great CRM will also assist with front-facing activities. Some of these activities include managing email campaigns and tracking requests for information.

Improve Audience Segmentation

“Audience segmentation” is the practice of dividing your target audience into smaller categories. This approach allows you to connect with clients, past customers, and quality leads more effectively. Top-tier CRMs streamline audience segmentation so that you can group contacts by type.

For instance, you can filter your search results to include leads when attempting to get new customers. If you want to launch an email drip campaign that advertises refinancing services, you can use search filters to locate past clients only.

In short, audience segmentation allows you to be more relatable to your audience. You should not send an email geared towards past clients to prospects and vice versa. Instead, you can adjust your messaging when you know which type of customer you are addressing. 

Increase Client Retention

Mortgage officers should not worry about client retention, right? Wrong! Client retention is an important aspect of sustaining and growing your lending business. But far too many lenders overlook past clients in their quest to attract new customers. This oversight often occurs because lenders do not have enough time to contact everyone.

Once again, a high-quality CRM for lenders provides the perfect solution. A CRM platform allows your team to manage all client relationships, both past, and present. 

CRM software will include handy tools such as birthday and refinance alerts. These tools will ensure that you never forget to send out that important “happy birthday” or “You are eligible for refinancing” message.

By staying in contact with previous clients, you can keep your business “top of mind.” When they need mortgage lending services again in the future, your company will be their first call.

Proactively reaching out to past customers can also encourage them to take action when they wouldn’t have otherwise. For example, some customers do not track interest rates and refinance opportunities. You can teach clients how to save money and potentially earn repeat business by sending them alerts. Everybody wins.

Provide More Consistent Communication

The mortgage lending industry is a customer service business. A great customer service experience will ensure that clients leave your office happy and satisfied. But offering poor service can cost your business.

One of the biggest pain points that affect customer satisfaction is poor communication. If you or your loan officers fail to follow up with information requests, you may lose out on potential clients. 

Bad communication in the lending process may cause clients to pull their loan requests and seek out services elsewhere. Customers may endure poor communication. But they might then leave your business negative reviews or tell their friends about their experience.

A CRM solution for lenders can significantly improve your team’s ability to stay in contact with clients. Such a platform will allow lenders and other parties to communicate with clients across multiple mediums. 

The CRM allows your team to transition between email, SMS, social platforms, and push notifications, all from a single app. This omnichannel approach ensures that they never miss a client message. They always have the opportunity to respond on time.

Speed Up the Approval Process

The best CRM solutions also include digital document management tools. These tools will improve and simplify the borrower experience by submitting documents online. 

Each time a borrower submits a form via their unique portal, loan officers will receive an instant push notification. This feature allows them to quickly review the document, request more information, or take other action to process the loan.

Transitioning from traditional processing methods to a digital document platform is the most effective way to expedite loan approval. This feature will help your team become more competitive within your region. It will also allow each loan officer to increase productivity, as they will be able to process more loans than ever before.

Build and Protect Brand Reputation

In the mortgage industry, your brand reputation is everything. It will take months or years to correct if you develop a negative reputation. In the meantime, you may lose out on dozens, if not hundreds, of clients.

CRM software for lenders will allow your business to build and protect its brand reputation. Using this technology to its true potential, you can process loans faster, communicate better, and enhance productivity. Your loan officer will quickly become known as one of the fastest and friendliest within your region.

What to Look for in a Great Mortgage CRM

When searching for a Mortgage CRM for your business, ensure that the developer offers:

Scaled, Transparent Pricing

Transparent pricing is always a great sign. Especially when searching for a mortgage CRM provider. The best Mortgage CRM developers offer scaled pricing. This pricing covers individual loan officers, teams, and enterprises. 

Most prices increase based on the total number of users your business has. But they often offer discount plans for enterprises with many loan officers.

A Free Demo

Who doesn’t like to try before they buy? That’s why we recommend seeking out a CRM solution that offers a free demo. Businesses that provide free demos are confident in their products’ capabilities and design.

A demo will give you time to explore the software. While doing this, you can learn how adopting the software would affect your workflow. If the software is well designed, it will be able to adapt to your existing workflow. It will provide process improvements at the same time. 

The demo will help you decide whether the fit is right. You should know without a doubt if a particular software platform is a right fit for your business.

Integrations

A CRM with tons of integrations will ease data sharing between apps. Your calendar, email, and other apps should all be accessible. When shopping around for CRM software, find out what integrations it offers. Remember, the more integrations, the better.

Automation

Top-tier CRM solutions for lenders also offer several automation tools. These tools allow your team to automate redundant tasks. Things like sending out marketing email campaigns, distributing leads, and more. Automation software will save your team time. Then, they can spend more time interacting with clients.

Experience the Power of CRM for Lenders with BNTouch

Are you looking for a way to regain your competitive edge? Want an all-in-one CRM solution for your business? Ready to leverage the power of integration and automation tools?

If so, then it is time to connect with BNTouch. We offer one of the most comprehensive CRMs for lenders in the world. Our software includes a dynamic range of tools and functions. They will help take your business to the next level. To learn more, schedule your demo today. We’re ready to help you succeed. 

The post The Benefits of a Mortgage CRM Software for Lenders appeared first on .

Lead generation helps loan officers to find new clients. While your marketing and customer service should be designed to bring in more leads, don’t forget about the power of positive customer testimonials. 

Potential clients trust the opinions of established customers more than marketing. Almost all potential clients will search for testimonials and online reviews before they do business with a company. This is especially true in the world of financing. After all, many homebuyers rely on lenders to help them make the largest purchase of their lives.

In this guide, we’ll discuss some of the best ways to use testimonials to get new leads for your brokerage. 

Build Customer Rapport

Everything begins with positive customer relationships. Start by asking your long-time customers or ones who consistently express positive feedback to give feedback. 

You can even gather feedback and reviews from newer clients. However, it’s essential to develop and build rapport with your customers before you ask them for a review. Once you’ve earned their trust by delivering consistent, high-quality service, it will be incredibly easy to ask for feedback. 

When customers rely on your services and trust your company above competitors, they will be eager to tell family and friends about you. With this information in hand, you can move on to the next step: Spreading the word.

Sharing Testimonials to Get New Leads

More than half of all homebuyers say they would contact a brokerage based on reviews posted by previous customers. If you’re not already using social proof to boost your marketing efforts, it’s time to start. 

Loan officers should make it easy for new leads to view and access feedback from established clients. You can publish this feedback on your website and social media channels. 

In addition to formal reviews and testimonials, your digital marketing should highlight positive results and experiences with your clients over the years. One simple way to do this is to share pictures taken with clients at their closings. Post these pictures on your social media accounts with a note of congratulations and make sure to tag the buyer and their agent in your post!

If possible, select a featured customer success story that will appeal to your target audience. For example, if you want to work with more VA buyers, you can share feedback from a veteran you’ve helped recently. Want to target first-time homebuyers? Share a story from someone with a unique first-time experience.

The Right Tools Can Help

Positive online testimonials work like a lead generation engine. They can boost your advertising efforts! Leads keep mortgage brokerages in business. Every positive customer experience should result in a great review and a few new leads. 

With a powerful mortgage brokerage CRM, you can request feedback, share testimonials, develop ad campaigns, and more. Want to learn how to publish testimonials to improve your marketing efforts? Curious what a high-quality CRM can do for your business? Contact the team at BNTouch to schedule a free demo today.

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When it comes to reaching new clients, most lenders understand the value of digital marketing. Unfortunately, it can be hard to come up with new ideas for social media posts, emails, videos, and referral requests – especially when your day is filled with loan processing tasks!

You might understand that it’s important to post new content on a consistent basis. But how do you actually plan out your campaigns?

A content calendar is a perfect tool for mortgage brokerages that want to plan out content to publish all year long. Rather than spending hours each week trying to come up with a fresh approach, you can craft a marketing plan to cover every season.

In this article, we’ll give you some tips and tricks to craft a content calendar for your mortgage brokerage. 

What Should a Content Calendar Contain?

While it may be intimidating to try to organize your content ahead of time, once you put in the effort to plan your online feeds and releases, it will make your entire year’s marketing much easier. 

A content calendar usually includes some of the following items:

• Date and time that content will be published
• Social media channels and accounts where posts will be published
• Relevant descriptions, photos, and videos
• Associated links and tags

Your content calendar should be an accurate overview of all upcoming and scheduled social media posts. It can be organized on an Excel spreadsheet, an online calendar, or using your CRM. 

Building a Calendar as an Individual Lender or a Brokerage Team

You can build an effective content calendar as an individual agent, especially if you take advantage of powerful tools, like content libraries from your CRM.  

If you work with a team, you can meet together once a year or once a quarter to plan out your content. This can help you to bring new ideas to the table to promote your brokerage.

You can even build flexibility into your content calendar. Want to address hot topics in the mortgage market? Set aside one slot in your calendar each week or each month to shoot a video on current events or newsworthy updates! 

Check Out the Results

Once you have your content calendar in place, make sure to set aside time to review it. It’s a good idea to set aside time to do this once a month. 

For example, you can set a regular appointment to go over your content at the end of the month. Review the month to see what kinds of content got your audience engaged and what didn’t. Then, you can update the next month’s calendar accordingly!

Make It Your Own

When it comes to digital marketing as a lender, planning makes all the difference. Consistent posts are better for catching the attention of potential clients than random, sporadic ones.

The more you plan, review, and reevaluate your social media content, the easier it will become to deliver consistent content that yields results. 

Whether you create posts from scratch, take advantage of a premade content library in your CRM, or combine the two styles, a content calendar can help you to make the most of your advertising.

Mortgage Broker Marketing Made Easy

While there are limitless methods, templates, and approaches to take, there are a few essential keys for success when using a content calendar. One of the best options? Using a high-powered CRM!

With BNTouch, you can explore pre-made marketing templates, customize them to your brand, and schedule new marketing campaigns with ease. Generate new leads, review analytics, and nurture potential clients through the sales funnel with ease. Schedule a demo today!

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With online customer engagement increasing, as the old saying goes, time is money! Customers who have access to fast responses, good customer service, and easy-to-use tools are more likely to do business with a company. 

Did you know that businesses that use live chat features stand to see a threefold increase in sales and leads? When customers have access to speak with live chat representatives in real-time, they can get the fast responses they deserve. 

Live chat features on your website can help to build positive customer relationships. They offer immediate solutions for a customer that wants to find out more about your company or your loan products. For this reason, live chat is one of the most important features your website can offer. 

Ready to learn more about the ways that live chat on your website can drive business to your loan officers? In this guide, we’ll explore some of the top benefits of live chat tools. 

Live Chat Improves Customer Service

Attracting customers means more than just offering the right products at the right rates. Lenders need to remain competitive by offering a variety of ways for prospective clients to get in touch with their teams. 

Live chat representatives are often at the front line when it comes to a company’s reputation for service. They need to be able to quickly understand client expectations and challenges and interact in an engaging way.  

Building a Reputation for a Fast Response

Live chat improves customer satisfaction rates, but it can also help to build brand awareness. Customers who have questions about your services and loan products are likely to reach out. If they aren’t able to get fast answers, clients are more likely to turn to your competitors. 

How much does a fast response matter? Recent studies have shown that more than half of customers prefer a live chat feature over phone support!

Live chat makes it possible for a mortgage broker to answer customer questions immediately. This means that potential clients aren’t left waiting for hours to get a response to an email or spending a long time on the phone. 

By offering these tools on your website, you can engage prospective clients in a meaningful way. This makes it more likely that they’ll turn to you when they’re ready to apply for a loan.

Provide Answers to Common Questions

Of course, even if you don’t have live representatives waiting to answer questions that come in through your website, you can take advantage of chatbots. These tools provide a friendly, fast response to common questions.

You can use chatbots when your teams aren’t available, like in the evenings or on the weekends. You can even have your chatbot ask a few questions to prequalify leads before one of your mortgage brokers reaches out to a potential client.

Want to Take Your Mortgage Brokerage Website to the Next Level?

Live chat features for websites will only get more popular in the future. If you’re looking for a high-quality CRM that can help you to generate leads, connect with customers on your website, and get loans through processing with ease, BNTouch can help! Request a demo of our powerful tools today!

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