Important Features to Look for in a Loan Pipeline Management Software

by Tomi Pironti

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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Tomi Pironti
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