{"id":10870,"date":"2022-08-17T16:05:03","date_gmt":"2022-08-17T20:05:03","guid":{"rendered":"https:\/\/bntouch.com\/?p=10870"},"modified":"2025-01-08T08:08:54","modified_gmt":"2025-01-08T13:08:54","slug":"build-loan-pipeline","status":"publish","type":"post","link":"https:\/\/bntouch.com\/mortgage-blog\/build-loan-pipeline\/","title":{"rendered":"How to Build a Loan Pipeline (and 4 Common Mistakes to Avoid)"},"content":{"rendered":"<h2><strong>Summary<\/strong><\/h2>\n<p><em><span style=\"font-weight: 400;\">This article focuses on strategies to build a robust loan pipeline. Learn about effective lead generation techniques and how to nurture prospects into clients. By the end, you\u2019ll know how to implement a systematic approach to consistently generate and manage loan opportunities.<\/span><\/em><\/p>\n<p> <\/p>\n<p> <\/p>\n<p><span style=\"font-weight: 400;\">A mortgage loan pipeline refers to loans that have been initiated but have not been completed. Loan officers need to know how to build a <a href=\"https:\/\/bntouch.com\/mortgage-blog\/loan-pipeline-purpose\/\">loan pipeline<\/a> as a core part of their business.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Managing your pipeline can make you more efficient and can increase your bottom line. This guide will show you how to build a loan pipeline and help you steer clear of common mistakes.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_322673792-1-300x205.jpeg\" alt=\"\" width=\"700\" height=\"478\" class=\"alignnone wp-image-10873\" srcset=\"https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_322673792-1-300x205.jpeg 300w, https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_322673792-1-768x524.jpeg 768w, https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_322673792-1-1024x699.jpeg 1024w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<h2><b>How to Build a Loan Pipeline<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Want to learn how to build a loan pipeline? Here are 4 steps.<\/span><\/p>\n<h3><b>1. Stay Informed<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Loan officers can increase their effectiveness by keeping up with current mortgage and consumer trends. For example, most of today’s homebuyers struggle with credit. A loan officer should have the knowledge to help these buyers connect with the right loans.<\/span><\/p>\n<h3><b>2. Get the Word Out<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A little bit of marketing goes a long way. The right marketing tools can help you generate leads and follow up on prospective customers.<\/span><\/p>\n<h3><b>3. Stay Connected<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Building relationships is one of the most important parts of the lending industry. Staying connected to your clients helps ensure a good working relationship and improves your reputation as a loan officer.<\/span><\/p>\n<h3><b>4. Use the Right Tools<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Never underestimate the power of the right software. Customer relationship management (CRM) tools can help you with things like communication, marketing, and more. Additionally, they will give you access to the data you need to make decisions on the fly.<\/span><\/p>\n<h2><b>4 Common Mistakes to Avoid in Building a Loan Pipeline<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">What common mistakes should loan officers avoid when creating a mortgage pipeline?<\/span><\/p>\n<h3><b>1. Being Too Broad<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Not every lender has to occupy a niche. But sometimes loan officers can spread themselves too thin by pursuing mortgage loans of varying types. Instead, try to focus on one key area and build your pipeline around that.<\/span><\/p>\n<h3><b>2. Not Being Selective with Loans<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">As a loan officer, it’s tempting to accept every loan that crosses your radar. But some loans are better than others. Focus on the loans that will mean the most for you and your clients or the loans that align with your area of specialty.<\/span><\/p>\n<h3><b>3. Not Setting Realistic Timelines<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Be realistic. If your turnaround time is 30 days, don’t insist that you can close within 20. This is especially true if closing depends on third parties or special considerations, or if the property needs further insurance review.<\/span><\/p>\n<h3><b>4. Closing the Relationship After Closing the Sale<\/b><\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_429450700-300x175.jpeg\" alt=\"\" width=\"700\" height=\"409\" class=\"alignnone wp-image-10874\" srcset=\"https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_429450700-300x175.jpeg 300w, https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_429450700-768x449.jpeg 768w, https:\/\/bntouch.com\/wp-content\/uploads\/2022\/07\/AdobeStock_429450700-1024x598.jpeg 1024w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Your former clients can actually be your greatest current assets. Stay in touch and send them a message after the first month and\/or year goes by. They may know others who are looking for a home loan and can help you land some new leads.<\/span><\/p>\n<h2 style=\"text-align: center;\"><b>Make Every Customer Count<\/b><\/h2>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Every loan officer can benefit from the right customer relationship management (CRM) platform. At BNTouch, we provide innovative solutions to help you with communication, marketing, and much more.<\/span><\/p>\n<p> <\/p>\n<p> <\/p>\n<h2><strong>Key Takeaways<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Streamline Lead Generation<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">Use targeted campaigns to consistently attract potential clients.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Enhance Conversion Rates<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">Employ nurturing strategies that build trust and engagement.<\/span><\/p>\n<ul>\n<li><b>Optimize Pipeline Management<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">Track progress with CRM tools for better organization.<\/span><\/p>\n<p> <\/p>\n<p> <\/p>\n<h2><strong>Commonly Asked Questions\u00a0<\/strong><\/h2>\n<ul>\n<li><b>What is a key strategy for generating leads?<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">Using targeted marketing campaigns tailored to attract potential clients.<\/span><\/p>\n<ul>\n<li><b>How does nurturing leads improve conversions?<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">It builds trust and engagement, making prospects more likely to commit.<\/span><\/p>\n<ul>\n<li><b>What tool is essential for managing a loan pipeline effectively?<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">A CRM system for tracking progress and organizing leads.<\/span><\/p>\n<ul>\n<li><b>What is the overall goal of building a loan pipeline?<\/b><\/li>\n<\/ul>\n<p style=\"padding-left: 40px;\"><span style=\"font-weight: 400;\">To ensure a consistent flow of potential borrowers for sustained business growth.<\/span><\/p>\n<p> <\/p>\n<p> <\/p>\n<h2 style=\"text-align: center;\"><span style=\"font-weight: 400;\">Request a demo today, and you\u2019ll soon discover how BNTouch can improve your lending business!<\/span><\/h2>\n<p> <\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/bntouch.com\/wp-content\/uploads\/2021\/06\/WebsiteCTA4.png\" alt=\"Request a free demo\" width=\"480\" height=\"80\" class=\"aligncenter wp-image-9806 \" title=\"https:\/\/bntouch.com\/request-demo\/?sourceTerm=Organic-Blog-Build-Loan-Pipeline\" srcset=\"https:\/\/bntouch.com\/wp-content\/uploads\/2021\/06\/WebsiteCTA4.png 600w, https:\/\/bntouch.com\/wp-content\/uploads\/2021\/06\/WebsiteCTA4-300x50.png 300w\" sizes=\"auto, (max-width: 480px) 100vw, 480px\" \/><\/p>\n<p> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary This article focuses on strategies to build a robust loan pipeline. Learn about effective…<\/p>\n","protected":false},"author":20,"featured_media":10871,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-10870","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles"],"_links":{"self":[{"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/posts\/10870","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/comments?post=10870"}],"version-history":[{"count":0,"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/posts\/10870\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/media\/10871"}],"wp:attachment":[{"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/media?parent=10870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/categories?post=10870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bntouch.com\/wp-json\/wp\/v2\/tags?post=10870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}