8 Features the Best Mortgage CRM Software Must Have

The proper mortgage customer relationship management (CRM) software may significantly enhance your loan officers’ productivity and simplify the process for your customers.

Yet, locating the ideal CRM program can be arduous. Numerous choices exist, but not all are worthwhile. If you make the wrong decision, you could lose a lot of money.

Below are the eight most important components of any mortgage CRM platform.

Reviews and Accolades

You can’t simulate the real-world use of technology through demonstrations and inquiries alone. To help you choose the best software, it’s a good idea to read internet mortgage CRM reviews and look at the recognition each system has received from industry experts.

Having the correct reports, measures, and displays to show you precisely what you want to know about your organization is crucial when your CRM tracks billions of actions and things. Personalizing your reports is essential, but having useful pre-made reports at your disposal is also helpful.

Lead Generation

The quantity of leads your mortgage company receives is a significant determinant of how successful it will be. Success in the mortgage business is contingent on the lead-generation capabilities of your customer relationship management system.

Mortgage lead-generating software should be a part of your mortgage customer relationship management system and vice versa. This includes referrals, paid leads, live transfers, and Google.

Generating leads and closing loans utilizing a single platform is crucial, with as few software integrations and logins as possible. The top features for mortgage CRM applications are outlined below.

Mortgage LOS Integrations

When your loan origination system (LOS) is compatible with your CRM, you’ll save time on redundant data entry. Your loan origination system should work in tandem with your top loan officer’s customer relationship management.

An LOS takes a completed loan application, preferably imported from your mortgage CRM system, and provides the Loan Price / Pricing Engine to assist you in finalizing the mortgage.

Mortgage CRMs might vary greatly. When your LOS is integrated with DBN’s CRM, you won’t have to worry about manually syncing any data between the two systems; instead, changes made in one will reflect the other.

Automation of Email and Texting

The ability to automate communications via email and text messages within your CRM is arguably the most vital component of any marketing automation platform. Second only to ease of use is the automation’s reliability. A one-minute reaction time, for instance, can improve conversions, whereas a two-minute response time reduces them by more than half, and a three-minute response time reduces them even further.

70% or more of your leads won’t be ready to take the next step the first time they contact you. By leveraging email automation, you can save time and optimize the quality of every exchange. This is especially important for alerting customers with text messages upon completing forms or scheduling meetings.

Of course, in an ideal situation, your clients would go to your mortgage portal straight after that notification and start their application process there.

Mobile Applications

With a CRM mobile app, you may increase productivity by 240 hours per employee per year. That’s an extra $22,988 per employee at the median compensation for a loan officer. Email and text message formats, such as those for nurturing, subsequent communication, and closure, are already established.

By using a mobile app, you can get more out of each employee’s time and efforts and prepare your business for the inevitable migration to mobile from the desktop due to employee preferences and the convenience of managing work on the go.

The availability of a mobile app is a need for firms seeking to recruit and hire the top people. A customer relationship management app for mobile devices can help you always provide the highest quality service to your clientele.

Your team members may quickly and confidently give clients the accurate information they require with the help of a mobile app. Faster deal closures and more excellent money for your business are possible with mobile access to information, accounts, calling, messaging, emailing, uploading, and sharing papers.

Ownership of Data

The software you’re using likely originated from one of the many mortgage brokerages or enterprises today. When this happens, they have legal possession of the system’s data and, more critically, its software.

You may have to rebuild your network from scratch if you ever switch jobs or locations. If you use a mortgage CRM like Shape, you will always have complete control over your data. You can keep using the same system even after switching employers; you must update your email signature and logo.

Full Service Support

The finest mortgage CRM will keep you not because you signed a contract but because of the product quality they provide. For you and your other offices, having the option of month-to-month contracts and the freedom to add users without committing to an annual contract or cutting users if your firm is downsizing can be a decisive competitive advantage.

Several mortgage CRMs have hidden fees for phone calls and text messages, so reading the fine print is essential. Usage prices, such as per text or per minute, are a given with any service. Still, you should verify that activating the function won’t include a subscription fee to use the software regularly.

Free Promotional Templates

If you’re a mortgage broker, creating content and graphics for marketing materials is the last thing on your mind between generating leads, convincing customers to fill out application information, and completing loans.

Using a CRM with free, pre-made marketing material can save you months of time and effort. Every Shape mortgage system already has the following marketing materials: email and text message formats already established, such as those for nurturing, subsequent communication, and closure.

Teamwork is becoming increasingly crucial for mortgage brokerages. Your loan officers should be able to collaborate with ease using the CRM your company employs. Agents, processors, and assistants all fall under this category. Client accounts, shared notes, and file status updates should all be easily accessible.

Affiliate Disclosure: This post may contain affiliate links, and if you decide to buy any of the promoted products, I may receive a commission at no additional cost to you. By doing this, I might feel more inspired to continue writing on this blog. You can read our affiliate disclosure in our privacy policy.

Leave a Comment