3 Tech Tools Every Mortgage Broker Should Use 

mortgage tech tools
Moshe Farber
06, Dec 2022

There’s no denying that we’re all living in a highly digital world. It’s hard to go a day without using the Internet, relying on an app, or utilizing a device for something. You are likely immersed in technology for the better part of the day — whether it’s Netflix for your own entertainment or email for your work.

How are you using technology to make you a better mortgage broker? Are you taking advantage of the many mortgage tech tools available to optimize your workflow and enhance your efficiency and productivity?

There are countless apps, software, and other tech tools designed for mortgage professionals that can help make your life easier and your business more profitable.

Client Relationship Management Software

Having a customer relationship management (CRM) system is crucial for all salespeople. Using a CRM that is designed specifically for mortgage brokers can significantly improve how well you manage and nurture your client relationships.

CRM software is an easy way to centralize and organize your client records. The database can keep track of all the necessary client details you may need, such as a client’s loan information and contact details. It can even help you keep track of your last interaction with your clients and notify you when it’s one of your client’s birthdays or the anniversary of when they bought their first home.

A CRM platform allows mortgage brokerages to automate repetitive tasks, such as logging in client data or setting reminders of when to follow up. This makes your workflow smoother while also giving loan officers more time to focus on selling and serving your customers.

Some of the tasks a CRM software can automate include:

●       Sending follow-up messages to customers

●       Managing sales

●       Tracking leads

●       Assigning loan officers to clients

Moreover, your CRM software can also be used to help you maintain contact with a client even after closing the deal. By continuing to provide a great user experience, you are more likely to have repeat clients or benefit from client referrals.

Loan Origination Software

A loan origination software (LOS) will help you streamline not only the origination of a loan but also its fulfillment. Essentially, an LOS brings together the people who will work on the loan origination. This includes everyone from loan officers to underwriters and processors.

A great LOS system is indispensable when it comes to managing all aspects of the loan origination process wherever you may be. It will be able to track and push clients through the different stages of the mortgage process, from pre-qualification to underwriting to funding.

Automating aspects of the client’s journey helps you not only move them faster through the pipeline but provides a smoother, more convenient, and hassle-free experience for your clients.

Some of the latest LOS systems today offer additional features, such as fraud detection, data security, and compliance or reporting. One important factor to consider when choosing an LOS is how well it integrates with your Point-of-Sale software.

Website, Social Media, and Online Presence

Last, but certainly not least, you need a professional website. As we’ve established, we are living in a highly digital world. Almost everyone uses the internet to search for services and specialists to help them.

More importantly, we use the internet to examine and decide whether or not sales representatives or businesses we come across are reliable and trustworthy. The lack of a working website can deter potential clients from working with you and your team.

In addition to a professional and up-to-date personal website, you must have a solid online presence. Using the right SEO strategy, your website can be more easily found by people seeking mortgages in your area. Maintaining an active presence on the most popular social media platforms, sending out a helpful email newsletter, and making sure you have positive reviews on sites like Google and Zillow will also go a long way toward attracting the right prospects and helping you stay on top of mind with your clients. Building your online presence also includes having an optimized Google My Business page, LinkedIn profile, Facebook page, and Twitter account.

Work Smarter, Not Harder

By leveraging automation, optimizing your workflow, and eliminating repetitive tasks that can drain your energy or keep you from addressing your customers’ needs promptly, you cut inefficiencies and create a better experience for you and your clients. We hope this was helpful and inspires you to make sure you and your team are equipped with the latest and best tech tools in the mortgage trade!

Working hard is always commendable, but working smarter allows you to perform at an optimal level and become the best mortgage professional you can be. 

At ASTAR Home Capital, we’re big on working smart to ensure you get approved for a mortgage quickly, efficiently, and with as little stress and hassle as possible.Reach out to one of our mortgage experts today! Email info@astarteam.com or call 888-ASTAR-11 (888-278-2711) to start the loan application process.

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