Best Practices for Using Your Mortgage CRM

by Tomi Pironti

Investing in high-quality customer relationship management (CRM) software is vital for modern mortgage brokers. However, many loan officers do not get the most out of their new tech because they fail to lay out a clear adoption and implementation strategy. The end result is that many of the exciting features of their platform go unused.

Unsurprisingly, most CRM adoption issues are related directly to your loan officers. Fortunately, you can overcome these problems with a great game plan. 

With that in mind, the team at BNTouch has created this helpful guide. Below, we’ll outline several best practices to get the most out of your mortgage CRM.

How to Maximize the ROI of Your New CRM

If you want to maximize the ROI of your new software, we recommend that you:

Prioritize Adoption

The first step in the process is to prioritize adoption. This is accomplished by focusing on two key factors: developing a plan and offering training.

Your plan of action should outline when and how you will implement the CRM software. You should address long-term goals and the ways that you are going to optimize efficiency. Every aspect of the adoption process should be documented and thought out. This will improve employee buy-in and simplify the transition.

Prioritizing the adoption of new software requires a comprehensive onboarding program. Take the time to train your loan officers on the basics of the CRM platform.

During the training process, make sure to demonstrate how the software will make your team’s lives easier. Once they understand the value, they will be more receptive to onboarding. 

You should also offer ongoing education so that employees remain current on the latest features.

Keep Your Associates Committed

A great CRM will not just help your mortgage brokers. It will also improve the mortgage process for:

  • Realtors
  • Assistants
  • Processors
  • Buyers
  • Support staff

If you want to maximize the ROI on your new CRM, you need buy-in from these individuals, too. In order to do so, it is important to keep everyone in the loop.

Let your top realtors know that you are rolling out a new system. Emphasize the benefits and encourage them to participate. Use this same approach when interacting with other staff members. Discuss the ways that it will help them meet their professional ideals and goals.

Generating commitment among your client base is also vital. When you are working with a new client, ask them to download the CRM app. Explain that this will give them more control over the mortgage buying process. Also, make sure to let them know that the CRM reduces wait times and helps them close on their loan sooner.

Integrate Existing Workflows

With the right CRM, you will have the power to integrate existing workflows. Doing so streamlines the adoption process and makes the transition smoother. Your loan officers will be able to continue using their favorite lead generation tools while also leveraging the latest CRM.

Without systems integration, your team will have to piece together data from multiple platforms. This drastically hinders productivity and diminishes the customer experience.

Before you settle on a new CRM platform, make sure that it works well with existing tech. The software should be able to integrate with both proprietary and mainstream programs. This ensures that the CRM will communicate with any type of lead provider that you are currently using.  

Input Accurate Lead Data

During the transition, your loan officers will have to manually input quite a bit of data. It is essential that this information is entered correctly. This will save you a lot of headaches because you will not need to spend hours troubleshooting errors. When leads are accurately entered, the CRM technology will function optimally.

Perhaps the biggest appeal of CRM software is that it allows you to automate various processes. However, these automations use the data that your team provides. If the information is inaccurate, then you will diminish the long-term ROI of your new platform.

When you adhere to this best practice, your company can get the most out of the analytics data generated by CRM software. You can track metrics such as:

  • Conversion rates
  • Leads generated
  • ROI
  • Total revenue
  • Individual loan officer performance

These key performance indicators (KPIs) will offer valuable insights about your business.

Leverage Automation

The true value of mortgage CRM software lies in its marketing automation capabilities. Loan officers that leverage automation workflows get the most value out of their CRM platform. 

CRM software like the one from BNTouch allows you to automate:

Lead Nourishment Messaging

The average consumer expects a rapid response when they request information about mortgages. However, your loan officers already have a full workload. This means that they cannot respond to all leads in a timely manner.

With CRM software, you can create an automated email response campaign. When a lead requests information, they will receive one of these preset messages. This will draw them deeper into the sales funnel and prevent you from missing out on a high-quality lead.

You can even program a series of messages so that clients periodically receive additional correspondence. This will keep your business at the forefront of their mind and improve your conversion rates.

Client Updates

Fully integrated CRM software gives you the power to provide automated client updates. When a particular step is completed, the buyer will receive an email and/or push notification. This keeps them in the loop and improves the overall buying experience.

By providing clients with automated updates, you will further improve your conversion rates. Clients will also be less likely to get frustrated during the buying process because they will always have access to the latest information about their loan.

Refinance Alerts

What is better than closing a mortgage with a client? How about selling multiple mortgages to the same client! Generally, the mortgage buying process is considered to be a single conversion sale. However, it does not have to be this way.

Through the power of CRM automation software, you can earn repeat business and generate more revenue. You can keep in contact with past clients in the post-funding phase. You can set up automatic birthday and refinance alerts. 

When it comes time to refi, that satisfied customer will be eager to partner with your business again.

Lead Distribution

Distributing leads manually is time-consuming and inefficient. Mortgage CRM software allows you to automate this process, as well. Once the CRM is integrated with your lead provider, it will connect these prospects with loan officers.

You can also track each team member’s performance over time. This allows you to adjust the lead distribution protocols and optimize conversion rates. Automating lead distribution gives you total control over your organization.

Benefits of Mortgage CRM Software

When you utilize the five mortgage CRM best practices outlined above, you can get the most out of your new software. Some of the benefits of CRM software include:

Easy Lead Follow-Up

Following up with leads is one of the most tedious processes that your loan officers participate in. CRM software with marketing automation tools makes this task far easier. You can stay connected with prospective clients, current buyers, and post-funded customers.

Follow-up emails and text messages are essential if you want to obtain high conversion rates. Most leaks in the sales funnel occur somewhere between the initial contact and starting the loan buying process. Automated lead follow-up plugs many of these leaks.

Digital Document Management

Keeping up with paper loan documents is a hassle. Mortgage CRM software offers digital document management solutions. This means that your clients can submit key forms online and submit them electronically. Your loan officers can review these documents from anywhere.

Digital document management reduces mortgage processing times. It also results in a better buyer experience. That’s what we call a “win-win.”

Automated Email Marketing

Despite the fact that most digital advertising occurs on social and search engines, email marketing is still a valuable tool. Email marketing is extremely cost-effective, and it resonates with buyers. However, keeping up with all those emails can be a hassle.

Great mortgage CRM software will include several features that make managing your email marketing campaign all too easy. BNTouch’s CRM will allow you to:

  • Segment emails
  • Tag emails
  • Track your open rates
  • Send mass emails to specific contacts
  • Schedule automated email campaigns

These capabilities will help you get the most out of your email marketing efforts while also saving time.

Upgrade Your Tech with BNTouch

Are you ready to implement the latest technology at your mortgage brokerage? Would you like to implement a scalable CRM platform? Want a flexible software suite that is user-friendly and affordable?

If so, then BNTouch can help. Our team has developed an award-winning mortgage CRM. We have solutions for enterprises, mortgage teams, and individual loan officers. Our cutting-edge tools offer a great ROI and will streamline the mortgage processing experience.

Contact our team today and schedule a no-obligation demo. Once you have interacted with our platform, you will know that it is a great fit for your organization! 


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Tomi Pironti
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