This article highlights the advantages of using borrower portals to improve client interactions. It discusses self-service tools, document management, and real-time transparency. These portals enhance the customer experience and streamline communication with borrowers.
Borrower portals are your online hubs where your borrowers can check their loan status, fill out their 1003 apps, upload/e-sign documents, submit referrals and view contact info of all parties involved. Your BNTouch CRM will automatically create a portal for every record that comes into your pipeline. Give borrowers agency to move their own loans forward from anytime and anywhere. Borrower portals include full mobile app support with our mortgage circles app.
With these completely white labeled and automated borrower portals you’ll be able to…
Allow Borrower To Track Their Loan Status
As you set the loan status within BNTouch it will update automatically in the borrower portal. This means anytime your borrower checks their portal they’ll get real time updates of what stage their loan is in. No more constant “Just checking in” emails from borrowers curious about what the status is on their loan.
Request & E-Sign Docs
You can request documents and electronic signatures right from your CRM. These request will be sent to a borrowers email and can be uploaded or signed right from a borrowers portal. They’ll even be able to see a progress bar on the portal dashboard. It notifies them how many more docs they still need to upload and sign. You can learn all about our e-signature tool for loan officers here.
Fill Out & Track Digital 1003
Borrowers will be able to access and complete a digital 1003 application that you’ll be able to customize within your CRM. You’ll be able to send them a 1003 link to get the right into their application that will save as borrowers move from section to section. Borrowers will also be able to see the completion status of their 1003 application on the dash board of their portal. You can learn all about our digital 1003 application here.
Message With Your Borrowers
Borrowers will be able to message you right from their portal and you can respond easily from your tracker within the CRM. These portals really are the hub for everything your borrower will need online. We also offer a full mortgage website chat tool that you can learn about here.
Create Pre-Qualification Letters Automatically
Borrowers will be able to insert their project loan information into a pre-qualification calculator in their portal. Your CRM will automatically create a pre-qualification letter for them based on the information they provided. You can send this letter to them with the click of a button, pre-qualification letters have never been easier.
Offer Borrowers An FAQ Chat bot
We’ve added a chat bot to all of your borrowers portals that will be able to answer all sorts of frequently asked questions. It will be able to guide them through their 1003 application and give up to date rate info and down payment estimates as well. Effectively freeing up a ton of your time and eliminating repetitive back and forth email questions between you and your borrowers.
Provide Property Information
Borrowers will be able to see property and pricing data within their portal for properties and neighborhoods they’re looking to buy a home. This data is updated daily and pulled right from Zillow. You and your borrowers will be able to view property data from within your companies ecosystem online.
Display Contact Info Of All Loan Participants
Your CRM will automatically add contact information for all parties associated with your borrowers loan. Borrowers will be able to quickly get in touch with anyone they need to right from their portal.
Easily Get Referrals From Past Borrowers
Every borrower will also have a referral section right in their portal. They’ll be able to enter the info of their friend, relative or co-worker who is interested in a loan. That information will be placed directly into your CRM as a lead. This will allow you to automatically begin marketing to them through text message and email campaigns, moving them along in your pipeline.
Key Takeaways
Empower borrowers with self-service tools.
Portals provide clients with easy access to information and updates.
Streamline document management.
Borrower portals simplify the process of submitting, tracking, and accessing documents.
Foster transparency for better client relationships.
Clear communication through portals builds trust and confidence in the lender.
Commonly Asked Questions
What is the purpose of a mortgage borrower portal?
Borrower portals provide a centralized hub for clients to track their loan progress, submit documents, and communicate with lenders. They simplify the loan process.
How do portals improve borrower experiences?
They offer transparency and 24/7 access to updates, ensuring borrowers stay informed. This accessibility reduces stress and enhances trust.
What features make a borrower portal effective?
Key features include real-time updates, secure document uploads, and direct communication channels. These tools improve efficiency and engagement.
How do borrower portals benefit lenders?
Portals reduce administrative workloads and improve client communication. They allow lenders to focus more on building relationships and closing deals.
