Are you getting the most from your mortgage CRM software? Unfortunately, many lending businesses limp along with an outdated customer relationship management system. When you try to “get by” with a system, it’s not just your business that suffers. Your customers and partners won’t get to experience everything that you have to offer, either. 

With that in mind, here are some common signs your mortgage CRM ready for an upgrade.

Your Mortgage CRM Doesn’t Match Current Compliance Standards

Lenders need software that adheres to current industry standards. Failure to meet regulatory standards can result in fines and other penalties.

Modern mortgage CRMs offer integrated compliance modules. This ensures that your business stays on top of the latest rules and regulations. If your current CRM doesn’t offer support for regulatory compliance, it may be time to upgrade.

You’re Losing Leads

Managing leads is a top priority in the lending industry. Ideally, your mortgage CRM software should be able to help you keep track of your leads and manage client communications.

When leads start to slip through the cracks, it’s a sure sign that your system could use an upgrade. In fact, it may mean that you’re losing clients to your competitors.

A new system can offer tools to help you generate and manage leads. Automated communication helps you follow up with your current leads, while online portals enable your partners to submit new leads from their mobile devices. 

These features help you manage prospective customers and keep them engaged through every step of their journey.

Your Team Can’t Collaborate

If you work with a team, you need tools that help everyone to work together seamlessly. Today’s mortgage CRM software provides tools that let team members share documents to close loans together.

Without these features, your office can quickly become fragmented. Your staff may waste time searching for the right documents in their inbox or request forms that have already been completed by a client. An integrated platform keeps everyone on the same page, letting your office work efficiently. 

You Can’t Take It with You

Believe it or not, there was an era when people did all of their business from their computers. But those days are over. That’s why you need a mortgage CRM that offers mobile features. 

Mobile tools allow you to monitor your business and even collect new leads on the go. That’s vital if you spend time at open houses or networking events.

If your CRM platform doesn’t offer mobile features, it is long overdue for an upgrade. If that sounds familiar, it’s time to consider better options.

Your System Doesn’t Integrate with Other Software

Most businesses rely on a variety of software packages to handle their everyday processes. That’s why you need a mortgage CRM that integrates well with your other digital tools.

If you’re having problems connecting your digital platforms, it’s time to think about an upgrade.

Ready to Update Your Mortgage CRM?

If any of these signs sound painfully familiar, consider upgrading to the BNTouch platform. Our innovative tools help you streamline and modernize your core processes. Our state-of-the-art software helps you get more done and serve your clients more effectively.

Contact us today to schedule a demo!

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In the world of business, efficiency is key. That’s especially true for mortgage lenders, who have to manage complex processes on behalf of their clients and partners. The best way to manage these tasks is with a powerful customer relationship management (CRM) platform. 

Mortgage CRM software can improve relationships and automate your core business processes. Here are 5 projects that a mortgage CRM platform can simplify for you and your team members.

1. Client Communication

Customers expect regular communication. First-time homebuyers often want meaningful guidance on the unfamiliar lending process. 

Mortgage CRM software can centralize your communications within a single dashboard, which makes it easier to stay in touch. But the right CRM platform can also automate your communications, so you’re always “on” — even when you’re not.

For instance, imagine your client just completed a vital phase of the loan process. A mortgage CRM can send an automated message to let them know about their progress. Borrowers appreciate these frequent status updates, which can offer them peace of mind.

2. Marketing Campaigns

Face it: you have more things to worry about than monitoring your marketing campaigns. The right mortgage CRM software can run these campaigns for you.

Automated email marketing features allow you to send emails to potential leads so that no prospect slips through the cracks.

3. Creating a Web Page

Most lending companies have some sort of web presence. Unfortunately, their landing pages may not be updated as often as they should.

The best mortgage CRM software can help you create a webpage with just a few clicks. You can choose from pre-made templates that integrate with analytical tools to track your web performance.

4. Customer Assessments

Loan officers have to thoroughly evaluate the creditworthiness of each client. Mortgage CRM software can make this easier and more accurate.

The best CRM systems have advanced features to automate features such as:

• Loan qualification
• Credit analysis
• Data entry

These automated processes reduce turnaround times significantly. They can also increase accuracy by eliminating the mistakes that creep in from human error.

5. Lead Management

Managing leads is a vital part of any lending business. But if you do it manually, you’ll likely let many leads slip through your fingers.

Mortgage CRM software can change all that. A CRM platform provides a suite of tools to nurture your leads and cultivate lasting relationships.

The best systems automatically collect customer data based on online behavior and other core attributes. A mobile app can even help your partners submit leads while they are out connecting with realtors or other partners. A CRM system can even help you organize leads and remind you when it’s time to follow up with prospective clients.

BNTouch Can Help You Do More

The BNTouch platform makes it easier than ever to manage your lending business. You can automate your core processes and build relationships with ease. 

To see how these features can enhance your business, schedule a demo today!

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The right technology should bring you results, not headaches. Implementing a customer relationship management (CRM) platform in your lending business is a great way to streamline your processes and connect with your target market. But how do you choose which mortgage CRM platform is right for you? 

This guide will introduce you to the top features of a mortgage CRM and help you learn how each one can impact your lending business.

What Is a Mortgage CRM?

Business is all about relationships. So how can a software platform enhance those relationships? Customer relationship management software offers a diverse range of innovative tools. These tools can help you manage multiple aspects of your lending processes.

Busy loan officers can rely on a mortgage CRM platform to generate leads, communicate with clients, and oversee loans from start to finish. With the right tools, you’ll notice greater accuracy, enjoy better client visibility, and improve your ability to close deals in less time.

In any business, efficiency matters. Lenders especially understand the juggling routine that takes place from pre-loan to pre-closing. The right mortgage CRM can improve your core processes with mortgage-specific workflows to serve your clients’ needs. 

In fact, many lenders recoup more money than they invest in a CRM platform as they enjoy a higher volume of closed transactions and greater client satisfaction. 

Mortgage CRMs vs. Loan Origination Software

Many loan officers use loan origination software to manage their loan processes. However, traditional loan origination software is limited to the loan process. Mortgage CRMs do more. You can generate leads, coordinate between your team members, and manage your business in a comprehensive way with a CRM system.

If you already rely on loan origination software, consider upgrading to a full CRM platform. You could be missing out on additional features designed to enhance every workflow within your business. 

You’ll likely discover that a mortgage CRM system can replace your existing software. It can also integrate into your other tools to optimize your business end-to-end.

Features to Look for in a Mortgage CRM

What are the most essential features in a mortgage CRM? The best software will include a variety of tools to support your brokerage. If you’re thinking about adopting a customer relationship management platform, make sure to look for a system with the following features:

Communication Tools

First-time homebuyers want a lender to walk them through the process from start to finish. They look to you for guidance and understanding. Staying in touch from pre-approval through closing can help them feel at ease and more confident about their loan.

Mortgage CRMs make it easier to stay in touch. The best platforms organize your client correspondence within a centralized dashboard. This means you won’t have to worry about messages getting lost or questions going unanswered.

More significantly, a digital platform can send automated emails and texts to your clients. When your customer completes an important phase of the loan process, they’ll receive an automated status update.

The best platforms take this a step further with a live chat feature that integrates with your website. With these tools, clients and partners can get the answers they need in real-time. Automated responses also help you to collect leads that you can follow up on when you’re back at your desk, no matter what time a client reaches out.

Marketing Features

The right CRM system can also enhance your current marketing strategy. The top packages offer curated digital content including:

• Customized videos
• Social media content
• Email marketing tools
• Pre-built marketing campaigns

These materials help you generate new leads and build relationships with a broader network of potential clients. All of this content can be accessed and managed through the dashboard of your CRM, where you can also post content to your social media pages. It can even measure the engagement and assess the effectiveness of your marketing strategies.

Best of all, your marketing campaigns can be managed through one centralized dashboard. This eliminates the need to open multiple programs to monitor your social media, email campaigns, and other digital marketing efforts.

Web Development Tools

Modern businesses require modern websites. Customer relationship management software makes this easier than ever. Many mortgage CRMs include options to build clean, professional websites that are branded to match your logos and designs.

The best platforms come pre-loaded with website templates, which means your site can be up and running in minutes. Simply select the options that match your business, and fill in your information. Top templates are designed to look great on desktop computers as well as mobile devices.

You’ll also need the right tools to track your web traffic. Competitive platforms integrate with tools like Google Analytics to offer insight into your website traffic and how visitors are interacting with your content.

Pipeline Management

A mortgage CRM system can also help you strategize. You can use software to create pipelines for your borrowers, as well as your partners.

A mortgage pipeline is a systematic way of progressing through the loan process. When you’re interacting with borrowers, a pipeline helps you track every stage of the process. This gives you better control and visibility of the steps to close a loan.

For partners, a structured pipeline can demonstrate your commitment to strategic communication. This can go a long way to improving your relationship with real estate agents and other industry professionals.

Collaborative Tools

Do you work in a large brokerage? Mortgage CRM can turn your staff into a well-oiled machine. Everyone in your office can work together through a shared, centralized platform. With the best tools, you can share documents, collaborate on marketing campaigns, and even close leads together. Chat features can even ensure that your team members stay in touch as they work to get borrowers to the closing table.

Bottom line? These features translate into greater efficiency. When your office moves faster, your business moves faster. That’s good news for you and for your clients. 

Customer and Partner Portals

Your customers and partners are used to transparency and communication. Thankfully, a solid mortgage CRM system can allow partners and borrowers to download an app for their mobile devices. Using this approach, you can send out push notifications about the loan process, keeping borrowers and agents informed of the status of loans.

But a customer portal is more than a means of communication. A portal will also allow you to collect documents and signatures electronically. Doing this can accelerate your core processes and improves customer satisfaction.

Partners can also use a portal to engage with your business. You can encourage your partners to use a personalized portal to submit client leads. Mobile-friendly systems ensure that they can submit leads even when they’re out and about. This can help your partners make the most of open houses or networking events.

Customer Surveys

The best feedback you’ll ever receive will come from your clients. A mortgage CRM software package makes it easier than ever to collect customer feedback.

For instance, a mortgage CRM can allow you to create branded surveys. You can send these surveys to borrowers at any stage of the loan process. The feedback you receive can be used to refine your workflows in the future. It also gives you the opportunity to follow up with clients to resolve issues and ensure maximum client satisfaction.

Customer feedback can even be integrated into your web design and marketing efforts. You can display positive reviews collected in the CRM on your landing pages or social media accounts. This kind of testimonial can help you gain credibility with future borrowers.

Automation

Many aspects of the loan process rely on basic, repetitive tasks. You can increase both speed and efficiency through the automated features of a mortgage CRM. Your software system can help you handle things like data entry and other essential tasks. This not only accelerates your core processes but also reduces the opportunity for error.

Automated communication means that you’re always “on.” You can send clients regular feedback from your brokerage without ever lifting a finger. 

Together, these features can help you take on a larger client load. This translates into more money for your business and more clients receiving the loans they need.

Which Mortgage CRM Is Right for Me?

Which features are essential for your business? The answer may depend on your unique industry niche. Do you specialize in loans aimed at first-time homebuyers? Then you may value customer portals and communication tools. 

There are, of course, many mortgage CRM options available. You’ll need to assess the needs of your business, the needs of your clients, and the needs of your partners. A comprehensive package will allow you to meet your current needs while planning the future. 

Consider investing in a CRM package that helps you reach these long-term goals. With the right technology, your company can reach its fullest potential.

BNTouch Makes Business Simple

The BNTouch platform offers all of these great features and more. When you invest in our mortgage CRM system, you’ll have a better handle on your marketing strategy, your customer relationships, and how you work as a team, all while driving more business.

Request a demo today and discover how BNTouch can enhance your lending business!

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The right mortgage pipeline hedging strategy can do more than help you offset risk. A good strategy can also help you stay flexible and efficient and improve your chances of a high return. Here are some of the best ways to plan an effective mortgage pipeline strategy.

1. Keep an Eye on Your Data

Loan officers depend on having accurate, timely data. This way, you’ll be able to improve the accuracy and efficiency of your forecasts and create reliable models for the future.

This is where a high-quality customer relationship management (CRM) platform can shine. The right CRM system can help you track your data and integrate with your organization’s other software to provide accurate information.

2. Set Appropriate Benchmarks

For positive gains, loan officers must match loan duration profiles accordingly. This means you’ll have to ensure that assets share similar sensitivities to changing interest rates and other key factors.

One way to do this is to set a benchmark duration. This isn’t just an educated guess; it allows lenders to simplify decisions based on the relationship to the benchmark. At the very least, these benchmarks can serve as a reference point to help your decisions in the future.

3. Create Stages in Your Mortgage Pipeline

Your mortgage pipeline isn’t always a straight line from beginning to end. Instead, think of your pipeline as proceeding in different stages. The data you glean along the way allows you to track progress.

For example, many originators rely on pipeline fallout ratios to estimate the pull-through ratio. The latter refers to the likelihood of funding a particular loan commitment. Fluctuating interest rates can influence fallout rates and pull-through ratios. This creates a need to manage the process throughout the borrower’s journey.

Dividing the pipeline into stages also helps you refine your strategy. When customers first enter the pipeline, for example, you may need to provide some initial consultation. As they progress, you may want to provide additional guidance and help them understand where they are in the mortgage process.

4. Use Forward Sale Commitments

Lenders can sometimes get stuck with mortgage loan commitments if the borrower chooses another lender. After all, borrowers can change lenders without penalty, even after they lock in a rate for a loan. That leaves lenders on the hook for a hefty portfolio.

The solution? Many lenders are choosing to use forward-sale commitments as part of their mortgage pipeline hedging strategy. This means that the originator will commit to delivering a set dollar amount of mortgage loans at a certain price by a certain date. 

This doesn’t eliminate risk entirely. But it does put you in a better position to manage your portfolio and offset the risk of homebuyers pulling out.

Choosing the Right CRM

The best way forward is to pair your mortgage pipeline hedging strategy with a state-of-the-art CRM platform. BNTouch offers comprehensive tools to help you stay organized and efficient.

Request a demo today, and discover how BNTouch can transform your lending business.

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A mortgage loan pipeline refers to loans that have been initiated but have not been completed. Loan officers need to know how to build a loan pipeline as a core part of their business. 

Managing your pipeline can make you more efficient and can increase your bottom line. This guide will show you how to build a loan pipeline and help you steer clear of common mistakes.

How to Build a Loan Pipeline

Want to learn how to build a loan pipeline? Here are 4 steps.

1. Stay Informed

Loan officers can increase their effectiveness by keeping up with current mortgage and consumer trends. For example, most of today’s homebuyers struggle with credit. A loan officer should have the knowledge to help these buyers connect with the right loans.

2. Get the Word Out

A little bit of marketing goes a long way. The right marketing tools can help you generate leads and follow up on prospective customers.

3. Stay Connected

Building relationships is one of the most important parts of the lending industry. Staying connected to your clients helps ensure a good working relationship and improves your reputation as a loan officer.

4. Use the Right Tools

Never underestimate the power of the right software. Customer relationship management (CRM) tools can help you with things like communication, marketing, and more. Additionally, they will give you access to the data you need to make decisions on the fly.

4 Common Mistakes to Avoid in Building a Loan Pipeline

What common mistakes should loan officers avoid when creating a mortgage pipeline?

1. Being Too Broad

Not every lender has to occupy a niche. But sometimes loan officers can spread themselves too thin by pursuing mortgage loans of varying types. Instead, try to focus on one key area and build your pipeline around that.

2. Not Being Selective with Loans

As a loan officer, it’s tempting to accept every loan that crosses your radar. But some loans are better than others. Focus on the loans that will mean the most for you and your clients or the loans that align with your area of specialty.

3. Not Setting Realistic Timelines

Be realistic. If your turnaround time is 30 days, don’t insist that you can close within 20. This is especially true if closing depends on third parties or special considerations, or if the property needs further insurance review.

4. Closing the Relationship After Closing the Sale

Your former clients can actually be your greatest current assets. Stay in touch and send them a message after the first month and/or year goes by. They may know others who are looking for a home loan and can help you land some new leads.

Make Every Customer Count

Every loan officer can benefit from the right customer relationship management (CRM) platform. At BNTouch, we provide innovative solutions to help you with communication, marketing, and much more.

Request a demo today, and you’ll soon discover how BNTouch can improve your lending business!

The post How to Build a Loan Pipeline (and 4 Common Mistakes to Avoid) appeared first on .

Loan pipeline management software can give you an edge in today’s competitive industry. With the right software, you can ditch the spreadsheets and manage your business from one centralized platform. 

But with so many software options to choose from, how do you know which one is right for you? Here are five of the most important features to look for in a loan pipeline management platform:

1. Centralized Access

A digital platform can bring together your customer and borrowing data, also allowing you to access it from one centralized location.

This setup means you’ll have greater access to information such as:

• Customer profiles
• Customer lending stages
• Customer credit ratings

Loan officers can enjoy greater end-to-end visibility of their core processes. As a result, you’ll increase your efficiency and give yourself greater control over the customer lifecycle.

Additionally, when you pair this centralization with a cloud-based platform, you’ll have access to this data from anywhere in the world.

2. Seamless Integration

Think about all of the facets of a lending business. As a loan officer, you need to handle onboarding, the credit assessment, loan origination, underwriting, and more. Loan pipeline management software lets you integrate these processes under one central platform.

Your customers will notice the difference. The time you save can reduce turnaround times, to say nothing of the fact that you’ll have more time to devote to each client.

3. Automation of Core Processes

Many aspects of the loan process are repetitive by nature. Most loan pipeline management software tools offer automation to speed things along.

Robotic Process Automation (RPA) performs mundane tasks with minimal input. Coverage includes such tasks as:

• Loan evaluation
• Credit analysis
• Data entry

Mortgage professionals can expect to see two results. First, automation reduces turnaround times and boosts operational efficiency. Second, automation minimizes human error, increasing the accuracy of your business records.

4. Credit Assessment

Modern loan pipeline management software can give you better access to broader methods of evaluating credit. For example, some platforms can help you analyze things like:

• Social media behavior
• Past bill payment behavior
• Tax data
• Bank statement history

Using this data can ensure that you accurately assess your borrower’s creditworthiness and increases the borrower’s chances of receiving favorable loan terms.

5. Communication Tools

A mortgage pipeline management tool is often part of a platform is known as a customer relationship management (CRM) system. CRM platform can help you keep client communications organized and in one spot. This setup keeps you from worrying about emails you might have missed or questions you failed to follow up on.

In some cases, the software can send automated updates to your clients. For example, your clients can receive an email update to let them know that they’ve successfully completed a phase of the loan process. Customers will appreciate this level of transparency, and it also helps you remain their primary point of contact.

Transform Your Business

Bonus tip: find a software provider that allows you to test their solution with a demo. BNTouch provides a CRM platform that helps you integrate and streamline your core processes.

Request a demo today. You’ll discover how the BNTouch platform can help you manage your pipeline and transform the way you do business.

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A mortgage loan pipeline allows loan officers to maximize their efficiency and increase their revenue. Understanding how these pipelines work can be the key that unlocks your true business potential. 

What is a loan pipeline? How does it work? This guide will introduce you to the basics of mortgage loan pipelines and how they can enhance the lending process.

What Is a Loan Pipeline?

A mortgage loan pipeline is a set of loans that have been initiated but not completed. In some cases, the loans have been offered to potential homebuyers, though the sales have not yet closed.

The concept is simple. Loan officers initiate loans and secure a particular rate. They can then connect these loans to prospective homebuyers. The advantage is that the pipeline ensures that the interest rates and loan terms stay locked in. For the initial lender, this creates some risk, but it helps loan officers and borrowers land favorable loan terms.

How Does a Loan Pipeline Work?

To understand how a loan pipeline works, it’s important to distinguish between primary and secondary mortgage markets.

When a borrower receives a loan directly from a lender, they are operating within the primary market. But that doesn’t prevent them from selling that loan on the secondary market.

So a mortgage pipeline allows brokers to buy loans from an originator and then sell them to clients on the secondary market.

For Lenders

Lenders love this setup because it means they don’t have to worry about running low on money to lend. Instead, lenders can create loans and then sell them via the secondary market. This, in turn, frees up additional spending power.

Still, lenders have to be careful to maintain a balance between available cash and pending loans. Additionally, fluctuations in interest rates may prompt lenders to adjust the number of loans they produce.

The loan pipeline will determine how many more loans a lender can issue before the loans in the pipeline have been funded, closed, or sold.

For Brokers

For mortgage brokers, the mortgage pipeline is their primary source of income. Brokers and loan officers earn money based on the commission from the sale of mortgage loans. This ensures that loan officers work hard to connect clients to the right loans.

For Borrowers

Borrowers can often secure favorable rates when purchasing a home loan on the secondary market. But that doesn’t mean that borrowers won’t still experience snags. 

Changes in the lender’s loan pipeline can delay the closing of a loan. This is why loan officers must work to ensure transparency and accuracy to avoid further delays in the lending process.

Example of a Loan Pipeline

Imagine that a borrower (or brokerage firm) initiates a loan. The lender offers a mortgage with a flat 5% annual percentage rate (APR). This interest rate will remain locked in for a predetermined period, or simply until the loan is sold on the secondary market.

At this point, the loan is neither completed nor funded. But the originator must adhere to the original loan terms. The task of the loan officer is to sell this loan to a prospective homebuyer.

You may have noticed that this introduces some risk. Sure, if interest rates fall, the lender can benefit from the higher interest rate. But if interest rates rise, then the lender will take the hit from having a low-interest loan in the pipeline.

Again, this is why lenders must monitor their pipeline carefully and adopt hedging strategies to offset this risk. The state of the market can determine whether a lender creates further loans, seeking to balance profits and losses as interest rates fluctuate.

Of course, in the real world, a loan pipeline would be populated by more than just this simple example. Lenders and brokers alike rely on a dynamic system to keep money moving and provide the right loans to the right clients.

What Purpose Does a Loan Pipeline Serve?

On paper, this process might seem needlessly complex. But a mortgage loan pipeline plays a valuable role in the mortgage and real estate industry. Here are just some of the ways a mortgage loan pipeline keeps the industry moving.

Keeps Costs Low for Borrowers

A loan pipeline can lock in a low rate for prospective borrowers. When lenders are able to offer loans through a broker, it creates greater competition. Borrowers will have an easier time securing low-interest rates and favorable loan terms.

Increases Liquidity

A mortgage loan pipeline keeps money moving. Not only is there greater liquidity but money moves faster thanks to a mortgage loan pipeline. And when money flows freely, the entire lending process flows efficiently as well. Without a pipeline, the entire system could come to a grinding halt.

Expands Borrower Opportunities

With more money moving, lenders are able to increase the number of lending opportunities available for borrowers. Basically, there’s just more money available. This means that lenders will be more likely to extend loans to a wider selection of borrowers. 

Without a pipeline, borrowers would have to meet rigid standards in order to qualify. The pipeline allows more borrowers to gain access to the funding they need to finance their dream home.

Increases the Feasibility of Certain Loan Terms

A mortgage loan pipeline can make certain loan terms more feasible. It’s not that 15- or 30-year terms wouldn’t exist without the pipeline. But the pipeline keeps loan terms and interest rates more consistent across the board. 

Borrowers with similar credit histories can expect similar loan terms and interest rates and can compare rates across lenders to find their best option.

Increases the Number of Loan Types

The loan pipeline can also increase the number of loan types available. When lenders are able to offer more loans, borrowers will have greater access to various loan types. For example, lenders can offer standard mortgages alongside other loan programs, such as options for refinancing.

How to Build Your Loan Pipeline

Building a loan pipeline can increase your bandwidth and enhance the services you offer your clients. But how do you do it? You can build your loan pipeline through several strategies, including the following.

Networking

Like any industry, mortgage lending relies on the right relationships. Consider networking with other professionals, such as

• Lending institutions
• Real estate agents
• Divorce attorneys
• Construction companies and contractors

These relationships tend to overlap and reinforce one another, helping you generate leads as well as helping you connect your clients to the appropriate loan programs.

Marketing

It’s important to get the word out about your lending business. Many customer relationship management (CRM) platforms include marketing tools that help you.

• Build a website
• Manage your email marketing campaigns
• Manage your social media platform
• Request customer feedback

In fact, the right tools can serve almost as an extra set of hands at your workplace and make it easier to build and manage your online reputation.

Relying on the Right Tools

Marketing tools are only the start of what you can do. Many of today’s tools can also help you with things like

• Data management/document storage
• Communication
• Integrating and automating core processes

The more efficient you are at processing loans, the more successful you’ll be as a loan officer. The right tools can make all of the difference.

What Is the Benefit of Loan Pipeline Management Software?

Many loan officers rely on loan pipeline management software to stay organized and automate certain aspects of the loan process. This can increase your efficiency dramatically, which is good for both you and the customers.

Loan pipeline management software offers benefits that include:

Greater Efficiency

Keeping your data in a centralized location can make you more efficient. You’ll be able to process loans faster, lowering your turnaround times. Additionally, automating your core processes allows you to have more time to focus on your clients. 

Electronic signature options can even eliminate the need for face-to-face meetings with your clients. This likewise streamlines the lending process.

Greater Accuracy

When you rely on automated tools, you’ll minimize the errors that creep in from manual data entry. Additionally, many automated programs can perform a credit check and other essential processes. 

Accurate information ensures that you connect borrowers with the right loan program as well as help them obtain a loan with favorable terms and rates.

Scalability

A software system enables you to expand your business. For starters, you’ll be better equipped to collaborate and share data between team members. But an integrated software platform also allows you to diversify your loans. As you grow, you can explore new territories and serve a greater array of clients.

Build Your Loan Pipeline Today

The best way to start building a loan pipeline is with the BNTouch platform. Our innovative CRM system allows you to integrate, automate, and streamline your core processes. Users can use our centralized software for marketing, communication, and much more.

To see these features in action, request a demo today. These tools will help you build your loan pipeline and serve your clients like never before.

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For most mortgage lending agencies, errors and productivity are polar opposites. The time it takes to pinpoint and correct errors can cut into your workflow, which is bad for you and your clients. 

Mortgage document automation can help you address both issues. Here’s how automation software can minimize errors and boost productivity for your lending practice.

Why Do Errors Happen?

Errors can come from anywhere. Quite often, errors can be the result of human error. But because the lending process is complex, a small error in one part of the process can have major consequences down the line.

Pinpointing these errors takes time. It can also cost you money since you’ll be distracted from the kinds of revenue-generating activities that you depend on.

How Mortgage Document Automation Can Minimize Errors

Automation all but eliminates the human element. For instance, many platforms allow you to auto-complete certain portions of the lending documents. With no manual data entry, you’ll have fewer opportunities for errors to creep in.

Likewise, your software will rely on algorithms to perform routine calculations. This means that the data you work with will be accurate and reliable.

Why Reliability Matters

Lenders work in a data-intensive industry. Reliability matters because your reputation matters. You owe it to your clients to process loan requests quickly and accurately.

Errors slow the process down. Minimizing these errors can allow you to complete applications with no setbacks. Your clients will appreciate the rapid turnaround time. Rapid processing can likewise give you an edge over your competitors. 

How Mortgage Document Automation Can Boost Productivity

Think about how much time you spend dealing with paperwork. This kind of “administrivia” can take a bite out of your workday. The advantage of mortgage software is simple. By automating routine tasks, you’ll have more time to devote to other aspects of your business.

The right software allows you to scan documents, verify data, and coordinate with clients and underwriters. You can also send automated updates to clients, giving them a front-row seat to the entire process.

At the very least, you’ll have greater bandwidth to take on new clients. An easy way to scale your practice is to introduce automation. You’ll be able to invest your extra time into expanding your client base.

Spend More Time with Clients

Borrowers expect a high degree of customer service. This is especially true for first-time home buyers, who come with questions and worries about the loan approval process.

Get out from under the mountain of paperwork. Spend more time building relationships with your clients. Automating your core processes ensures that you give each client personalized attention. That can go a long way toward solidifying your public reputation.

Enhance Your Business Today

The BNTouch platform is the perfect way for loan officers to reduce errors and boost productivity. You’ll have an easier time connecting with clients as well as staying organized.

Contact BNTouch today for a demo, and discover how you can enhance your lending business.

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For many mortgage lenders, so every day is a juggling routine. You have to balance many administrative tasks with the needs of your clients. But mortgage automation software can make things easier. Here are eight reasons why you should invest in mortgage automation software.

1. Unify Your Processes

Mortgage lenders rely on several different platforms during the lending process. For instance, you might use one system to check credit reports and another to access pricing data. 

Mortgage automation software brings these disparate components together in one platform. This makes things easier and reduces the chances of details getting but not getting lost in the shuffle.

2. Boost Your Productivity

By definition, automation refers to software that operates without your direct input. Instead of devoting time to repetitive tasks, have the machines do it for you. This will let you get more done. It will also free your schedule to focus on other aspects of your business.

3. Improve Your Accuracy

Every lender knows the problems that can creep in from something as simple as human error. Lenders also know the time it takes to pinpoint and correct these errors. Mortgage automation software can also minimize mistakes. Ensuring a smooth loan application process.

4. Network Better

Loan officers often partner with other industry professionals, also most notably real estate agents. Mortgage automation software can help you develop a sales pipeline, and to guide applicants through every phase of the process. This can encourage real estate agents to work with you because they have a greater understanding of your services and process.

5. Grow Your Business

With increased productivity comes increased revenue. You can reinvest this income back into your business. With more working capital, so you can expand, hire new workers, or take on a new marketing strategy.

6. Stay Compliant

Like any industry, lenders must show compliance with existing government regulations. A software system can provide transparency as well as thorough reporting. The data stored in your software platform can ensure that you comply with all industry regulations.

7. Enhance Your Communication

Mortgage automation software allows you to automate several different processes. This includes the communication you send to your clients. Without regular communication, your clients may become frustrated and take their business elsewhere. Automation ensures that your clients receive regular updates throughout the loan process.

8. Focus on Your Clients

Most importantly, automation lets you focus on what matters most: your clients. Automation clears away the distractions and gives you more time for each customer. You’ll be able to deliver the kind of personalized attention that clients expect. You also may land future clients through word-of-mouth from your satisfied customers.

Make Your Investment Today

The future of lending is here. The BNTouch platform provides solutions to a variety of specialized needs. Our services assist with marketing, collaboration, communication, and much more. You’ll be able to deliver a new level of customer satisfaction and watch your business thrive.

Ready to get started? Request a demo today. You’ll discover how BNTouch can enhance your services and outshine your competitors.

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Borrowers come to you with questions, anxieties, and uncertainties. As a loan officer, it’s your job to inspire trust and confidence. Mortgage workflow automation tools can help you balance your administrative tasks.  Here are five ways that these tools can increase customer satisfaction.

1. A Faster Process

In a competitive market, speed is the name of the game. The right software platform can streamline the entire process. An automated system can reduce human errors and complete repetitive tasks with efficiency.

Borrowers can use the same software platform to upload documents and complete the process using a digital signature. This means that from start to finish, so the application process runs smoothly — and quickly.

2. Better Communication

When borrowers don’t get regular feedback from their loan officer, they get frustrated. Some will look elsewhere. A customer relationship management (CRM) platform can begin to improve communication. The system can even organize messages for later review.

But mortgage workflow automation can take your communication strategy to the next level. An automated system can send updates and reminders to your clients on your behalf. For example, once a critical piece of the loan process is complete, the system can send an update.

This gives borrowers a greater sense of transparency throughout the process. In turn, this will create greater trust in you and your services.

3. Simplified Screening Process

Ordinarily, lenders rely on several different systems to screen applicants. For instance, you might rely on different tools to check credit scores or access pricing data. But relying on different systems can make the process confusing and hard to organize.

Mortgage workflow automation unites these disconnected processes under one software platform. This will make the screening process faster, with fewer “moving pieces” to keep track of. That reduces the likelihood of lost forms or missing information. It also helps speed up the process for you and your clients.

4. Greater Control of the Process

During the loan process, borrowers get pulled in many directions. They’ll be dealing with both the realtor and you, the loan officer. Having the right software puts you in the driver’s seat.

Why is it good to have control? With you guiding the process, your clients will have greater confidence. The trust you build can help borrowers enjoy the experience rather than get frustrated by the details.

5. Personalized Attention

The mortgage industry is all about relationships. Mortgage workflow automation cuts back on the time you spend on routine tasks. The time you save can be better spent building connections with your clients.

This kind of personalized attention pays big dividends. Keeping your clients happy raises the chances that they’ll recommend you to their friends, which helps you land more leads.

Streamline Your Workflow

If you’re not currently using a CRM platform, now is the time. These digital tools can enhance your performance and keep your clients happy. The BNTouch platform can help you with everything from marketing to customer communication.

Request a demo today, and discover how BNTouch can help you deliver a superior quality of customer service.

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