Loan originator marketing is about more than just getting noticed. It also involves building a rapport with your potential clients. The following loan officer strategies can help you craft your personal brand. As a result, you’ll improve client relationships.

What Is a Personal Brand?

Your personal brand is what sets you apart. Your brand might include your company mission statement and logo. However, it also extends to the experience your clients can expect when working with you.

Loan Officer Advertising Strategies for Building Your Personal Brand

How can you build your brand as a loan officer? Here are some loan originator marketing strategies that can help you connect with potential borrowers.

Create Authoritative Content

As a mortgage professional, you need to communicate knowledge in your field. One of the best ways to do that is by publishing authoritative content. 

For example, you can publish blog content on subjects like “alternative loan programs for first-time buyers.” Blogs like these are helpful for two main reasons. First, they show your clear knowledge of the industry. Second, they let you include keywords that improve your search engine rankings.

Video Content

Video is a simple, natural way to connect with clients. You can create and publish video content that instructs visitors on the lending process.

But you can also use video to highlight details that only apply to your practice. They provide borrowers with a “face-to-face” interaction long before you even meet them. And even more helpful is that you can use videos in emails and social media posts in addition to embedding them on your website.

Omnichannel Marketing

Many business owners already operate a basic Facebook page or other social media profiles. But the best way to build your brand is through omnichannel marketing, which means using more than one social media platform.

The advantage of this is simple. Some social media platforms will be better suited to reaching your target market. Sites like Instagram, for instance, help you better connect with millennial home buyers. 

Use Testimonials

Let your clients build your brand for you. Customer reviews and testimonials can offer insights into your strong points. Publishing stories from past clients also clues future clients into what to expect from your business.

A mortgage CRM platform can solicit feedback from past customers. You can then respond to any negative feedback to protect your reputation. You can also publish positive reviews through your web page or social channels. 

Network with Other Professionals

Another option is to build your personal brand by networking with other industry professionals. For example, realtors and lawyers can be great sources of mortgage leads. 

Mortgage CRMs can facilitate these relationships via a partner portal. Your area partners can use that portal to send leads your way. You might even be able to impress them with your mortgage pipeline and boost your reputation.

The Best Loan Originator Marketing Tools

BNTouch offers a comprehensive CRM solution for your lending practice. Our platform offers tools for marketing, collaboration, and more to help you build your brand. To see these features for yourself, contact BNTouch today. We can schedule a demo to help you learn what a mortgage CRM can do for you.

To learn more or schedule a demo, contact BNTouch today.

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Many loan officers use some form of digital marketing. But the future belongs to those who innovate. Here are some innovative loan officer marketing ideas that you can use to connect with new clients.

1. Set Up a Google Business Profile Page

Chances are that you already have an optimized website. However, you should know that Google lets you set up a Google Business Profile page (recently rebranded from Google My Business) that can improve your search engine ranking.

It costs nothing to set up your page. You’ll just need to provide your contact details and a brief description of your business. You can also link to your webpage, and your past clients can leave reviews.

2. Use Video Marketing Content

Some of the best loan officer marketing and mortgage sales strategies involve custom video content. Video can be an ideal way to convey information about the lending process. But it can also be a great way to nurture strong customer relationships. Lenders can use videos to introduce themselves to new leads, or they can even send birthday or anniversary videos to their valid clients.

A mortgage customer relationship management (CRM) platform can make it even easier. The best mortgage CRM systems provide customizable video content that can be sent via email, shared over social media, or embedded on your website.

3. Offer Interactive Chat Support

Clients often come to your website with questions about the mortgage process — and they want the answers fast. An interactive chat tool allows them to get immediate answers. This responsive technology likewise improves the odds that they’ll use your services for their loan.

Once again, a mortgage CRM can help. Some providers offer AI-powered chatbots that respond to customer queries automatically. Others offer app-based tools that let you and your team respond to clients in real-time so you’re never out of touch.

4. Market to Other Industry Professionals

Other industry professionals can be a valuable source of mortgage leads. One of the best loan marketing ideas is to connect with these individuals and not just your potential clients.

For example, real estate agents, lawyers, and tax professionals might know of individuals who need a loan officer. A mortgage CRM can connect them to your practice through a partner portal, which allows them to drop new leads into your borrower pipeline.

5. Don’t Neglect In-Person Events

Also, not all marketing ideas for lenders will revolve around the digital world. Attending or hosting an in-person event can help you better connect with your target market.

Consider partnering with a local realtor to host a “first-time buyer” seminar. This way, you and the realtor can connect with new leads, and your content will help you nurture relationships with interested buyers.

Loan Officer Marketing Made Easy

The right mortgage CRM platform can help you put these advertising ideas into practice. The BNTouch platform offers tools and resources to generate marketing content and manage client relationships. Contact BNTouch today and schedule a demo to see these features in action.

To learn more or schedule a demo, contact BNTouch today.

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As a loan officer, your brand is built on reliability and trust. But what’s the best way to connect to your target market? This guide will introduce you to today’s best practices for loan originator marketing. 

Find Your Niche

Marketing is the fine art of “standing out.” One of the best ways to stand out is to carve out a niche among other mortgage lenders. For example, your lending practice might specialize in:

• Loans for first-time buyers
• Non-traditional loan options (FHA loans, USDA loans, VA loans)
• Refinancing
• Home equity loans/lines of credit
• Commercial lending

Accenting these features can help you stand out from your competitors. But more importantly, you’ll connect with customers searching for these lending options.

Know Your Target Market

Who is your target audience? Learning as much as you can about your customers can help you refine your loan originator marketing strategy.

That starts with accenting products that appeal to your target market. So if you want to reach first-time buyers, your marketing materials might focus on lending options or educate your audience on the mortgage process.

But that also means reaching your customers where they are. Will you reach your customers better through email? Social media? Digital ads? 

For that matter, your choice of social media channel matters. You may connect better with millennials by establishing a presence on Instagram, for example. The point is to learn how your audience communicates — then learn to speak their language.

Stay Active on Social Media 

These days, it seems like every business in America has established a social media presence. But many companies haven’t updated their Facebook content since the Obama administration. Staying active is key to customer engagement and can be pivotal to your loan originator marketing plan.

Start by choosing the right social media channels. Facebook has basically become the default, but that also means more voices to compete with. You might also consider sites like LinkedIn or Instagram, depending on your target market.

Regardless of your platform, stay active. Make regular posts and share regular content. Engage your followers by asking questions and posting compelling content that invites clicks and shares.

A customer relationship management (CRM) system can be a big help. The right mortgage CRM can provide pre-made templates that make it easier to stay engaged on social media. 

Optimize Your Website

Most borrowers begin their journey with a Google search. To stand out, you’ll need to master the fine art of search engine optimization (SEO).

SEO is a form of passive marketing, meaning it’s not something you have to maintain like your social media calendar. The main trick is to use the right keywords to stand out. For instance, using words and phrases like “first-time loan programs” or “mortgage options near me” will help your site rise to the top of search engine results pages.

Beyond content, the design of your website should also be clean and modern. Ask yourself:

• Does my website look good on desktop and mobile devices?
• Is my content easy to navigate?
• Are my contact details up to date?
• Do I have a method for capturing customer leads?

Again, a mortgage CRM can be a big help. The right platform can offer templates and other tools to build a clean, modern site that your customers will love. 

Engage Customers with a Web Chat Feature

Why do visitors come to your website? Many times, it’s to search for information. Sure, your site may contain answers on your “about” page or in your blog, but visitors often want answers fast.

A chat window can deliver just that. You can integrate this feature right into the front page of your website. Some CRM platforms even offer an AI-powered chatbot that automatically responds to visitor queries. But at the very least, you’ll be alerted to web activity so you or your team can respond from anywhere using a mobile app.

Modern chat features can also enable you to capture visitor details. That way, you can use the chat feature as a lead generation tool, placing these customers into your loan originator marketing funnel for later follow-up.

Use Segmented Email Marketing

Email marketing is a common technique for many businesses. The problem is that a one-size-fits-all approach rarely works. You need an email marketing strategy that addresses each of your customer segments.

For example, you might send an introductory email to your new leads. You might ask if they have any follow-up questions or provide information about the mortgage process, promotions, etc. 

For customers further along in the process, you can send follow-up emails. These emails might remind borrowers what to expect, what they might need, or what steps to take next. 

This is another built-in feature of a mortgage CRM platform. The right software can manage your loan officer marketing emails, automating the process so you don’t even have to think about it. As a bonus, this same system can also keep borrowers informed as they complete the various stages of the lending process.

Capture Leads with a Compelling CTA

One of the most effective parts of loan originator marketing is your content. This can include blog posts that engage your target market. Posts like “Ways to Save for Your First Home” not only connect with your core audience but also assist with SEO to boost your visibility.

But it’s not enough to generate clicks. You want to convert those readers into customers. The best way to do that is with a clear, compelling call to action (CTA).

A common CTA is “For more information, contact us.” But you might also offer information, a demo, or something else that prompts visitors to contact you or provide their contact details. 

Once you have those details, you can follow up by contacting them or dropping them into your borrower pipeline.

Invest in Digital Advertising

Many of the above loan originator marketing plans involve customers finding you through a web search or your social media presence. But other methods let you reach them where they are.

Digital ads and pay-per-click (PPC) advertising let you place ads on popular search engines. You can also pay to boost posts on social media, connecting with those outside your circle of followers.

As the name suggests, pay-per-click ads are affordable since you only pay when a visitor clicks on the ad. And a solid CRM platform can help you develop marketing content that drives engagements and promotes views.

Leverage Customer Reviews

Customers do their homework. Before they commit to a product or service, they look at customer reviews and testimonials. You can use these elements as part of your loan officer branding to better connect to potential borrowers.

Don’t be afraid to ask for reviews from past clients. A mortgage CRM can even help you filter out negative reviews, allowing you to address problems before they affect your ranking.

You can publish reviews or customer testimonials on your website or social media page. These can be great marketing tools. Visitors will learn more about the real experience of your past clients and what to expect from your practice.

Seek Out Referrals

Feed your mortgage pipeline with customer referrals. A mortgage CRM can provide a partner portal for other area professionals. So if a local realtor connects with a new client, they can drop their details into your pipeline through a mobile app.

You can also request referrals from past clients. Sending past customers a “thank you” or a reminder of their loan anniversary can keep you in their minds. They may be willing to recommend your services to their friends who are also looking for loan options.

As always, a mortgage CRM can help you manage referrals and new leads. You’ll be able to send automated introduction emails and follow up based on your new clients’ needs.  

Attend Local Events

Not all forms of mortgage marketing are digital. Loan officers can pursue customers by attending (or even hosting) local events. 

These can include professional network events, which can put you in contact with business partners who can send new leads your way. But they can also include events aimed at new home buyers or those considering refinancing.

When creating your own event, it helps to share the load. Working with a realtor to put on a seminar about the mortgage process allows you both to benefit from new customer leads. And the registration process itself enables you to capture customer data that you can feed into your mortgage pipeline.

Take Your Loan Originator Marketing to the Next Level

These marketing strategies can help you boost your visibility and nurture client relationships. But to manage these tasks requires strong administration and teamwork.

That’s why loan originator marketing and so many loan officers rely on customer relationship management (CRM) platforms. These platforms can help you develop marketing content, manage your web presence, and connect with your target market.

Take some time to discover these features for yourself. Contact BNTouch today to schedule a demo, and learn how you can take your lending practice to the next level.

To learn more or schedule a demo, contact BNTouch today.

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A customer relationship management (CRM) platform can form the heart of your referral network. Mortgage CRM systems offer tools and features that make it easy to drive referrals and nurture new leads. Here are some ways you can use your CRM to pursue referrals for your lending practice.

Introduce Area Professionals to Your Partner Portal

The best mortgage CRM systems provide an online portal for borrowers and partners. This allows you to network with other area professionals, such as real estate agents or financial planners.

The goal is simple: these community partners can use the portal to send referrals your way. For example, a real estate agent may meet a prospective buyer and drop them into your mortgage pipeline. Later, you can reach out and see how you might serve their needs.

Nurture Clients with the Right Content

Explainer content can be critical for nurturing client relationships. Mortgage CRM systems can offer pre-built marketing materials to make it easy to share information.

You might send explainer content to a new lead — such as a video or an infographic. These materials provide more information about the lending process. This can be especially helpful when introducing clients to future options, such as refinancing or second mortgages.

Leverage Social Media Channels

Staying active on social media can help you connect to a broader audience. Your followers may share your compelling content, giving you greater visibility.

When followers (or their friends) like, share, or comment on your posts, you can capture new leads and follow up with potential clients.

Host an Event

Your CRM platform can also help you promote “real-world” events. You might consider a seminar geared toward first-time home buyers. Mortgage CRM systems feature tools to help you get the word out to your target audience.

After the event, your CRM can follow up with your guests. You can send an email or even a text. Simply asking them if they have any questions can keep the lines of communication open. It could also open a door to requests for more information.

Follow Up with Former Clients

More often than not, your former clients can contribute to your referral network. If you deliver quality service, they may be more likely to tell their family and friends about you.

Of course, this assumes that they remember you! But that’s where a mortgage CRM can help. Your platform can send automated emails to past clients, such as a thank you on the anniversary of their closing date. You could even suggest that they recommend your company to any friends who are buying a home.

Discover the Power of a Mortgage CRM

The lending industry will always be about people. But technology can help you nurture these important relationships. The BNTouch platform makes it possible for you and your team to collaborate and reach a broader audience. 

To learn more or schedule a demo, contact BNTouch today.

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Mortgage lenders often rely on a customer relationship management (CRM) system to organize their existing clients. But mortgage CRM systems can also help you manage new leads. Here are five lead management strategies you can use a CRM platform to generate and nurture new client relationships.

1. Identify Customer Segments

Who are your most valuable clients? Creating a buyer persona can help you tailor your efforts to reach your ideal market. Are you focused on first-time buyers? Refinancing? Commercial real estate?

Mortgage CRM systems can help you generate prebuilt content and marketing plans to reach your unique market. At the very least, you’ll gain greater exposure through social media and digital marketing channels.

2. Follow Up with New Leads

A CRM platform can help you follow up with new leads. For example, if a website visitor uses your chat feature or signs up for a promotional event, you can contact them later to follow up.

Mortgage CRM systems offer several ways to do that. One way is by email. Lenders can send a follow-up email complete with explainer content to remind borrowers of what the process might look like.

Or you can send a follow-up text. Simply asking, “Do you have any additional questions?” can keep communication channels open.

3. Implement a Borrower and Partner Portal

A CRM can offer an online portal for both borrowers and community partners.

Borrowers might use the portal to track their progress through the application process. Lenders can stay in touch with automated messages to keep borrowers informed at every stage of their journey.

Likewise, community partners (such as local real estate agents) can also communicate with you through the portal. They might use the portal to submit new leads, such as those they meet at an open house or community event.

4. Respond to Customer Inquiries with a Live Chat Feature

Lending websites see a lot of first-time visitors looking for information. An integrated chat feature allows visitors to receive responses to their questions in real time.

Visitors who receive fast feedback may be more willing to follow through and complete a loan application. But you’ll also gain the ability to drop these visitors into your lead pipeline and follow up later.

5. Rely on Former Clients for New Leads

Some of your best leads might come from former clients. Mortgage CRM systems can send anniversary emails to your past clients on the date of their mortgage approval.

This way, you’ll stay in touch with your client base even after they’ve moved into their dream home. Satisfied customers may be more willing to recommend your services to friends and family who are also moving through the lending process.

Schedule a Demo Today

Why not discover these features for yourself? The BNTouch platform offers innovative solutions for nurturing new client relationships as well as managing every aspect of your lending practice.

Contact BNTouch today and schedule a demo. Discover how technology can help you scale your practice and grow your client base on your terms.

To learn more or schedule a demo, contact BNTouch today.

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A fully engaged mortgage customer will be far more likely to recommend you to a friend. They’ll also be more likely to return to you for future services.

The tools found in a customer relationship management (CRM) platform can keep your customers engaged throughout the lending process. Here are five ways to use mortgage CRM systems to boost customer engagement.

1. Provide Fast Answers with Live Chat

Live chat features keep website visitors more engaged than any other communication channel.

An estimated 63% of customers are more likely to return to a website with a live chat option. After all, many visitors come to your site looking for answers. A live chat offers the convenience of a website with the individualized attention of a customer service representative.

A responsive chat feature will engage new visitors and keep them coming back for more.

2. Stay Connected via an Online Portal

An online portal is basically a two-way communication system. Borrowers can use it to track their progress and complete essential forms. Meanwhile, lenders can use it to send messages and keep clients informed about the status of their loans.

The best mortgage CRM systems allow you and your clients to access the portal on their mobile devices. Through a secure app, clients can connect with you and stay engaged through every step of the lending process.

3. Send Automated Updates

An online portal is just one way to stay connected to your clients. Mortgage CRM systems also feature automated email and even text messaging tools. With these tools, clients can receive regular updates about their loan application status.

These updates can also keep the process moving forward. If there’s a problem in the application, you can alert clients quickly to get back on track.

4. Create Unique Explainer Content

They say a picture is worth a thousand words. That’s certainly true for mortgage customers.

Mortgage CRM systems allow you to generate explainer content, such as:

• Infographics
• Blog posts
• Market updates
• Custom videos

This content will explain more about what the lending process can look like. This is a great way to engage new mortgage leads since your explainer content will let them know what to expect as they move through the lending process.

5. Gain Feedback Through Surveys

What’s the best way to measure customer engagement? Just ask them. A mortgage CRM platform allows you to design custom surveys and distribute them throughout the lending process.

Not only will you learn from your customers, but you’ll also gain testimonies and reviews that help you engage new leads. You can publish positive reviews on your website or social media channels.

Keep Your Clients Engaged

A quality CRM can take your lending practice to the next level. The BNTouch platform offers collaboration tools for you and your team, as well as marketing features to help you nurture strong customer relationships.

See these features for yourself. Contact BNTouch today to schedule a demo and discover a whole new way to keep your clients engaged.

To learn more or schedule a demo, contact BNTouch today.

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A customer relationship management (CRM) platform can help more than your existing customers. It can also help you find new ones. Mortgage CRM systems are changing the industry for good. Here’s how you can leverage these tools to generate leads and grow your customer base.

What Are Mortgage CRM Systems?

A customer relationship management platform is a centralized means of engaging your customer base. Mortgage CRM systems can be used for communication and marketing, but they can also handle advanced tasks such as:

• Digital loan applications
• E-signatures
• Interactive chatbots
• Online portals
• Customized video content

These features help you stay connected with your customer base. And they can also help you collaborate with your team members. Best of all, these features help you develop a lead pipeline so you can grow your lending practice.

How to Use Mortgage CRM Systems to Grow Your Business

How can you use a CRM platform to generate leads? Here are some of the ways lenders are using mortgage CRM systems to transform their businesses.

Develop a Web Presence

A professional website gives your lending practice greater legitimacy. It can also provide a central location for customers to access things like:

• Application forms
• Educational resources
• Customer portals

A CRM system can help you develop a clean, modern website that’s easy to use on every device. The best CRM platforms offer pre-built templates to help you get up and running even faster.

Additionally, you’ll gain traction by implementing search engine optimization (SEO) strategies. By using the right keywords and phrases, your website will rank among the top results of today’s search engines. Consequently, you’ll gain greater visibility among those looking for lending services.

And if you integrate Google Analytics into your website, you’ll gain greater insight into your online performance. Are you turning clicks into customers? If not, your data can help you learn what to improve.

Respond to Inquiries with a Chat Feature

A staggering 44% of online shoppers have expressed appreciation for having a live person respond to their questions. Mortgage CRM systems allow you to integrate a chat feature into your webpage.

A chat feature may be particularly helpful for first-time buyers who are unfamiliar with the lending process. Answering questions in real-time can increase the chances that they’ll choose you as their lender. Afterward, you can drop the customer into your mortgage pipeline to follow up later.

Connect the chat feature to your phone, and you and your team can respond to customer inquiries from anywhere. The latest CRM systems even offer AI-powered chatbots for greater responsiveness.

Build Your Brand Through Pre-Built Marketing Content

What’s your current marketing strategy? Small lending practices don’t always have the resources to execute massive campaigns.

Mortgage CRM systems can help. The best CRM platforms offer pre-built marketing content, including:

• Monthly newsletters
• Property market updates
• Customizable video content
• Personalized e-cards
• Social media content
• Email marketing templates

With more in your toolbox, you’ll be better equipped to reach your target market. Additionally, these pre-built resources save you time, helping you focus on the execution of your plan.

Target Customer Segments

Not all leads are created equal. Quality leads are those that are likely to follow through with a mortgage application.

Mortgage CRM systems allow you to create unique customer segments. Lenders can then adjust their marketing approach to each segment.

For example, explainer graphics can form something of a roadmap for understanding the lending process. Borrowers (and potential borrowers) can use these graphics to learn more about what to expect. Lenders might also tailor their email marketing by including promotional offers or follow-ups to continue engaging potential clients.

Automate Your Email Marketing

A mortgage CRM provides a centralized email marketing platform. With this tool, you can standardize your email marketing efforts, saving time and boosting efficiency.

Keeping your emails organized in a central location will prevent you from missing any customer inquiries. You’ll be able to keep logs of all of your contacts, and your employees will also gain visibility into past communications.

Automated features empower you to send emails automatically. This can be great for email marketing campaigns. It also ensures that you maintain open lines of communication with new mortgage leads.

Mortgage CRM systems can also provide analytics to help you improve your performance. What types of emails are seeing the greatest results? A CRM can optimize your communications to maximize your performance.

Follow Up with Text Messaging

Email isn’t the only way to follow up with potential leads. You can use a CRM platform to send text messages as well.

So if a website visitor asks a question or signs up for an introductory offer, you can send an SMS text to follow up. Sometimes simply asking: “Do you have any additional questions?” can be enough to keep the relationship moving forward.

Alternatively, a text message might provide more information. Follow up on refinancing requests with messages that explain the process in more detail — this may prompt a commitment.

Create a Resource Library

As a lender, you possess a wealth of knowledge. Why not share it with the world?

Content marketing is the art of creating materials that educate and engage potential clients. For example, you might create a blog post or video outlining loan options for first-time homebuyers. Customers searching for answers can learn from your content, and they may follow up by requesting more information.

Mortgage CRM systems can help you organize and curate this content. They can also help you create material like explainer graphics and videos to engage your audience. If you create just one piece of content each week, then in only a year you’ll develop a resource library of 50 pieces of original content.

Provide a Customer Portal

Borrowers will be drawn to lenders who use the right technology. A mortgage CRM system can offer an online portal to stay connected with your clients.

A customer portal makes communication a breeze. You and your customers can keep in touch in the following ways:

• Borrowers can submit documents through the portal
• Borrowers can upload signatures from their phone or device
• Lenders can send important documents to clients
• Lenders can provide updates about the borrower’s progress

And yes, the customer portal is available as an app. Borrowers gain access to their loan application status from anywhere in the world. This feature also eliminates the need to make an appointment to sign off on important documents.

How does a portal secure new leads? Offering this level of convenience gives your lending practice a competitive edge. Mortgage customers may be more likely to commit to your services when you offer this level of support.

Connect with Community Partners for More Leads

An online portal isn’t just for borrowers. You can also connect to other community professionals.

For example, you might connect with local real estate agents who meet new home buyers at an open house or networking event. If they believe your services would be a good fit, they can drop a new lead into your mortgage pipeline. You can review this new contact and follow up later.

You’ll also gain the ability to track the leads submitted by each partner. Doing so will give you a greater understanding of how each piece of your business is performing.

Publish Testimonials and Reviews

Mortgage CRM systems enable you to gather and manage customer feedback. Custom surveys, for instance, can prompt your former and existing clients to review your services.

You’ll have the opportunity to learn from what’s working well and adjust things that aren’t. But more importantly, customer testimonials make great marketing content. You can publish favorable reviews on your website or social media channels.

After all, prospective clients may be more persuaded by real-world feedback than by other promotional materials. Soliciting reviews can build your reputation, and a good reputation can go a long way in the eyes of new clients.

Use Your Extra Time to Expand

Don’t overlook the greatest benefit of a CRM platform. With so many automated and collaborative features, you’ll be more efficient than you ever dreamed.

In other words, you’ll have more time on your hands. How you invest that time is literally your business. Mortgage CRM systems let you get more done. This means that you can serve even more clients without overburdening yourself or your staff.

Technology can help you grow your business by increasing your customer volume. You might even invest your time into offering a wider range of mortgage products or moving into new markets, such as commercial real estate.

Take the Next Step

Are you ready to take the next step? BNTouch can help. Our innovative platform can help you improve your efficiency, reach a wider range of clients, and scale your business your way.

The BNTouch CRM system offers prebuilt marketing materials, an online customer portal, and a robust array of important features. You’ll have all the advantages of a larger lending practice while retaining a personal touch.

To see these features for yourself, contact BNTouch today to request a demo.

The post How Lenders Can Use Mortgage CRM Systems to Grow Their Customer Base appeared first on .

Artificial intelligence (AI) is a fast-growing tool across countless industries. And when you implement it carefully, it has the potential to help your business grow.

As with any technology, it’s important to understand both the advantages and risks associated with AI. Here’s a quick look at the opportunities and challenges mortgage AI brings to the mortgage lending industry.

Mortgage AI: A World of Opportunity

AI is shaping the mortgage lending landscape for the better. Here are a few ways it’s opening up opportunities for lenders:

Task Automation

Dull, repetitive tasks like data entry are a part of mortgage lending. But that doesn’t mean you need to do them yourself. With AI, you can have these tasks completed automatically. You’ll be able to use the time saved to focus on strategizing, finding and cultivating leads, and performing other key activities.

Data-Informed Predictions

When you have accurate industry predictions and insights, you make better decisions. AI excels when it comes to compiling and analyzing data. It can predict future market trends and identify trends in customer behavior, enabling you to adapt when necessary.

For example, check out our full piece highlighting the role of AI and ChatGPT is playing in transforming mortgage technology.

Optimizing Processes

Even the best-run mortgage lending company can always improve. But often, it’s difficult to identify where to start. AI can analyze every step of the lending process and show you which areas might need improvement.

Detecting Fraud

Through machine learning, AI can detect potential fraud faster than humans. When you identify fraud quickly, you protect both your business and your customers. A good customer relationship management (CRM) platform will include automatic fraud detection. As soon as there’s an issue, you’ll know about it.

Managing Documents

Mortgage lending involves a lot of paperwork, and AI can help you keep track of it. When integrated into a CRM, this technology can organize and store documents, making it quick and easy to access them.

Concerns in a Changing Mortgage Landscape

Like any new technological innovation, mortgage AI is not without its concerns. Here are a few things to be mindful of as we move forward with this new technology:

Bias in Algorithmic Underwriting

Traditional underwriting takes time. Automating it with AI can be helpful, as AI algorithms rely on data to instantly approve or deny applicants.

However, experts think this process might not accurately assess a buyer’s financial situation. They also believe that it may perpetuate or worsen existing biases based on income, gender, race, and other factors.

For example, check out our full piece highlighting the role of AI and ChatGPT is playing in transforming mortgage technology.

Loss of Human Touch

AI can be incredibly helpful to mortgage advisors. However, it can’t replicate the relationship between advisors and borrowers. If mortgage advisors come to rely too heavily on AI, they may be less successful at building customer relationships.

Discover the Benefits of AI

If you want to use AI but aren’t sure where to start, you don’t have to do it alone. BNTouch is a CRM tool for mortgage lenders. By integrating our platform with AI, we’ve made it possible for you to harness the power of artificial intelligence to improve your sales, customer relationships, and more. 

Do you want to understand how we can help change your business for the better? Reach out to us today to request a free demo.

To learn more or schedule a demo, contact BNTouch today.

The post The Future of Mortgage AI: Opportunities and Challenges for Lenders appeared first on .

Artificial intelligence (AI) is revolutionizing the mortgage industry. AI-powered tools can automate core processes and make many areas far more efficient. AI technology can also streamline the mortgage application process.

If you’re a mortgage broker, this can bring many benefits to you and your clients. Read on to learn the ways that AI is helping to improve the mortgage industry.

Customer Service

No software can replace a human touch. That said, AI can augment your customer service offerings. In particular, an AI chatbot can field initial customer inquiries. First-time applicants can use it to ask questions and learn more about the lending process.

But the benefits don’t stop there. Artificial intelligence can also screen applicants. Then, it can connect them to the loan option that best suits their needs. This will serve them well as they continue through the process. As a result, your clients will be able to choose loan options with a greater chance of qualification.

Automating Routine Processes

AI tools can automate routine aspects of the mortgage application process. This makes your practice faster and more efficient. 

For example, AI tools can process borrowers’ pre-qualification forms with greater efficiency. They’ll be happier with the results — and more likely to stick with your company for the final loan.

For example, check out our full piece highlighting the role of AI and ChatGPT is playing in transforming mortgage technology.

Faster Loan Approval

Artificial intelligence can analyze large amounts of data. As a result, loan approval and underwriting will be fast and efficient. Automation also reduces the errors that creep in through manual data entry. Eliminating these errors can increase your speed.

Customers can expect faster decisions, which leads to greater satisfaction and confidence. Reduced underwriting times also improve company efficiency. By using AI for loan approvals, you can save money as well as increase your client volume. 

Options for Non-Traditional Borrowers

The traditional mortgage application process requires borrowers to provide documents such as:

• Bank statements
• W2s
• Tax returns
• Other sources of income

Lenders will additionally request a credit report. They’ll then use that information to consider the borrower’s creditworthiness. But not everyone fits this model. Freelancers and business owners may lack traditional income statements. And those with low credit may be able to qualify using other data.

AI-powered software can make it easier to assess non-traditional borrowers. This allows you to serve a broader market — and may even give you a competitive advantage. 

Document Management

The mortgage application process requires many forms. An AI-powered program can keep them all organized. You may already rely on a cloud-based storage system for easy document retrieval. But artificial intelligence will help you store, assess, and retrieve any documents you need.

It’s like having a digital assistant at your fingertips. You and your team can get more done while focusing on superior customer service. 

For example, check out our full piece highlighting the role of AI and ChatGPT is playing in transforming mortgage technology.

Do More with Less

Welcome to the future of lending. BNTouch helps you nurture customer relationships. A customer relationship management (CRM) system allows you to build a better mortgage pipeline. Your clients will appreciate the online customer portal as well. To see these features in action, contact BNTouch to schedule a demo. 

To learn more or schedule a demo, contact BNTouch today.

The post How Is AI Technology Streamlining the Mortgage Application Process? appeared first on .

If you’re a mortgage lender, you’re in the business of closing leads. But closing those leads becomes harder if you’re disorganized or pulled in too many directions.

Fortunately, Chat Generative Pre-training Transformer (ChatGPT for short) is a valuable tool for streamlining your workflow and customer relationships. When you leverage its power, you’ll close more leads while giving your customers an unmatched experience.

How ChatGPT Can Help Personalize Mortgage Customer Experiences

ChatGPT does more than answer questions on the internet — it’s become a valuable tool in the banking and financial services industries. The possibilities are endless when you integrate it with a customer relationship management (CRM) system. Here’s how you can make it work for you.

Answer Questions 24/7

If your customers ask you questions by phone or email, they may have to wait hours or days for a reply. ChatGPT is great for automating customer service while still adding a personal touch. 

ChatGPT can create a live chat service on your website or app. It can answer customer questions and concerns instantly. Everyone wins: customers get their answers quickly, and your time is freed to help you focus on leads.

Check out our full piece highlighting the role of AI and ChatGPT is playing in transforming mortgage technology here

Fortunately, you don’t have to be a tech expert to set up a live chat feature. A quality customer relationship management (CRM) tool will set the chat up for you.

Analyze Customer Concerns

The name might make you think ChatGPT is only suitable for chat applications, but it does much more than that! Leverage ChatGPT by using this technology to analyze data and help you deliver a personalized experience.

That data can be collected through customer activity, interactions with your site’s live chat, and more. For example, let’s say that through live chat, ChatGPT finds that many customers are frustrated with a specific step in the loan process. 

With that information in mind, you can adjust the loan application process to simplify that step.

Send Customized Texts and Emails

Unless you overuse them, personalized marketing emails and texts can help you close leads and improve mortgage customer experiences. Sending personalized texts and emails yourself is impractical. But using customer data and the power of artificial intelligence, ChatGPT can create and send customized messages by itself. 

Create Custom Web Portals

A good CRM doesn’t just optimize your experience as a lender. It also makes the customer experience easier. ChatGPT can design web portals to fit each customer’s needs. It can also be set up to send customers important updates about their loans.

Create Quality Web Content

Because you close mortgage leads, you might consider using ChatGPT to create a blog addressing common homebuyer concerns, mortgage rate trends, and other helpful topics. 

Customers will see that you’re doing more than just convincing them to get a loan. They’ll see you as a company that cares about their experience.

Make ChatGPT Work for You

Want to empower your company to reach new heights? BNTouch can help. We’re a CRM provider dedicated to helping you achieve business growth and optimize your mortgage customer experiences.

We believe that technology is the future, and we allow you to integrate ChatGPT with our system fully. Want to see how we can help you? Schedule a free demo today.

To schedule a demo, contact our experienced team today!

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