How Mortgage Officers Can Gain a Competitive Advantage in 2021

by Crystal Minter

In today’s digital marketplace, consumers expect instant information and immediate results. When it comes to mortgage lending, mobile apps and online mortgage interfaces have become increasingly popular. These resources can provide borrowers with immediate approval, and in some cases, lower rates. Because of the popularity of these tools, independent and community mortgage officers must adapt to the new market landscape in order to grow their businesses and continue to thrive.

In 2021, successful mortgage professionals will need to use every tool at their disposal to gain a competitive advantage over apps and online mortgage programs. It is important for loan officers to emphasize their strengths to prospects, partners, and borrowers.

For instance, providing a personal touch for your contacts and clients can set you apart from fully automated interfaces and impersonal apps. Utilizing the digital marketing and communications resources available through BNTouch Mortgage CRM will help you to provide personalized service to everyone in your professional network.

In the following post, we will discuss specific ways that mortgage professionals can gain an advantage in 2021.

Advantages of Community Lending

Personalized mortgage lending can offer many advantages over mobile apps and online companies. You can provide your clients with a flexible schedule and availability. You can also offer a humanized lending experience, which is superior to working with an impersonal online interface. When problems or questions arise, you can show yourself to be a trusted source of reliable information about the lending process.

Using a mortgage growth platform can help you to leverage these advantages, all while keeping your business running efficiently. Below, we will examine some of the ways in which community loan officers can use the features of BNTouch Mortgage CRM to remain competitive, supercharge their strengths, and grow their businesses.

Individualized Support

Many borrowers want the loan process to be quick and easy. Our modern desire for instant gratification has only increased with the ubiquity of online tools. But investing in a home is one of the biggest financial decisions that most consumers will ever make. Many potential homebuyers are intimidated and overwhelmed by the complexity of the lending process. Ease and convenience are important to your clients, but so are responsiveness, reliable support, and a trusted point of contact when obstacles arise.

The BNTouch Mortgage platform provides you with customizable mortgage content. You can tailor the engaging videos from BNTouch so that you can walk your clients through the basics of the loan process. This will establish you as an expert in the mortgage lending field and a reliable point of contact. Using customized videos can assist you as you build meaningful client connections and strengthen your professional network.

BNTouch offers professionally produced videos for a range of purposes, including:

  • Customizable Birthday Videos
  • In-Process Videos
  • Loan Anniversary Videos

These short and customizable videos will show your clients and prospects that you value the opportunity to form a professional relationship and that you appreciate their business.

Beyond customizable video marketing, BNTouch also allows you to conveniently send original video messages to your partners, prospects, and clients. Whether you need to remind a borrower of an upcoming deadline or discuss a new project with a partner, this feature is an excellent way to keep all of your communications organized and efficient.

Community mortgage officers can provide their clients with individualized support and mortgage content that is relevant and tailored to their needs. This provides an advantage over fully automated apps and online mortgage programs, even in 2021.

Offering Education About the Mortgage Process

With a mortgage growth platform like BNTouch, you can chat face-to-face with borrowers and prospects in real time. This maintains the efficiency of your workflow, while providing all the convenience and security that your clients and partners require. You can walk your contacts through the specifics of their in-process file, loan status, or any documents that may still be required.

Successful mortgage officers in 2021 can gain an advantage by delivering personalized, convenient, professional, and easy-to-use information about the loan process. Client education is a great way to display your expertise in the field. When your contacts trust the information that you give them, they are more likely to convert or refinance in the future.

For instance, many lending apps and online programs display very little information for potential borrowers (typically just disclosing interest rates, monthly payments, and cash to close). You have the ability to provide your prospective clients with further actionable information, including financial strategies that can save them money.

Cultivating meaningful conversations with your contacts will allow you to gain a competitive advantage in the lending market in 2021. Loan officers who use a mortgage growth platform to consolidate their network can build lasting professional relationships. Showing your clients that you care makes it more likely that they will bring their future business to you.

Answering your clients’ questions and concerns in real time is an effective way to develop a reputation as a trusted mortgage professional. Many types of software let you speak with others, but the BNTouch Mortgage CRM allows you to consolidate and organize all of your professional contacts in order to streamline your workflows and keep up on your records with ease.

Providing a Diverse Portfolio

Independent and community mortgage officers are able to provide a more diverse portfolio than larger lenders can. You have the ability to customize mortgage opportunities to meet the needs of the potential homebuyers in your network.

Typically, lending apps and large-scale online mortgage programs offer borrowers very few loan options. Online mortgage interfaces are usually standardized and provide very little in the way of customization. If an applicant fails to meet some of the specified requirements, their loan may be denied.

BNTouch makes it possible to find opportunities that meet the needs of your client base. Automated MLS alerts allow you to stay abreast of available opportunities in your local property market. It can be very useful to focus your efforts on borrowers who might be overlooked by more standardized lending institutions.

It might seem intimidating to compete against convenient online mortgage programs and mobile lending apps. But even in 2021, prospective homebuyers want personalized and meaningful lending services. BNTouch Mortgage CRM makes it possible for you to grow your business and thrive in 2021 and beyond.

Gain a Competitive Advantage for Your Mortgage Business in 2021

 

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Crystal Minter
For over 20 years, Crystal Minter has been a noteworthy leader in the high-tech space. You may know her as the Marketing Program Manager at Artech LLC, working for the one of the world's largest chip makers in Hillsboro, Oregon. Crystal can also be credited with contributions to Minter Consulting Group, Jeppesen - A Boeing Company, and Willamette Dental. She holds a Bachelor of Arts in Communication and currently resides in Beaverton, Oregon.
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