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April 01, 2019

How Mortgage CRMs Have Changed the Loan Origination Industry



Technology has become so pervasive that it has found its way into most industries and is threatening to influence the ones that are left. In fact, because of how technology has changed the landscape, many industries have had to rethink their entire business models to keep up with the time.



In the mortgage origination industry, one particular thing that has needed to be rethought is customer retention and the management of customer relationships. Whatever industry you’re in, it is necessary that your customer service is top-notch. This holds true for the mortgage industry as it does for any industry out there.

Customer relationship management (CRM) software is technology’s way of streamlining the process of offering good customer service to your clients. Such systems organize and store customer data in one place so that everyone that needs it within an organization can access it in one place. When all data relating to customers is stored in a central database, departments are better placed to use to serve customers in the best way possible. Any information required can be accessed quickly, and any customer issue can be dealt with ease. Moreover, it makes it easy to cater to the individual needs of each customer. The following are some of the massive advantages that mortgage CRM software like bntouch has offered to the mortgage industry.

Improved Interaction with the Customer

One of the best things about CRM software is that every interaction that your customer service personnel have with customers is stored in a central database. That means you can finally say goodbye to paper records of interactions or handwritten notes. Getting the details of any conversations between a customer and mortgage representatives will be as simple as a few clicks.

The sharing of information on customer interactions is also simplified, which makes things more efficient overall. You get to know how many times a customer was called, how many proposals were sent, what responses were received, and what services were ultimately provided to a customer.

Easier Prospecting

Mortgage representatives need to constantly be prospecting to ensure their success both now and in the future. CRM software makes prospecting work much easier and less time-consuming. A list of prospects can be prepared according to specifications made by the representatives, such as their demographics and behaviors. That makes the whole process much easier and more efficient. Because CRM makes your prospecting work more efficient, it also improves the quality of the leads that you generate.

Better CRM

As a mortgage representative, it is imperative that all of your contacts are well organized, including activity logs of whatever you have been doing with them. You should also be following up on your prospects constantly to generate more business from them.

CRM software allows you to do all of that plus much more. With a mortgage CRM, you can connect with your customers and also be able to access their information at any time. You can also find out what their interests and track them even as you look for fresh prospects. Customer relationship management becomes a lot easier, more efficient, and even more fun.



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