Driving Down The Total Cost of Mortgage CRM Ownership


With the mortgage market demanding more from you and your team than ever before, it’s no wonder that lenders are feeling the pressure to produce. The complexity of this constantly changing environment overwhelms lenders- low origination volumes, declining revenue, rising rates, heightened pressure to reduce loan production costs, and fierce competition is challenging every lender. The mortgage industry is a highly competitive market that requires lenders to be innovative and efficient to stay ahead of the curve. The use of modern customer relationship management (CRM) systems is one of the most effective ways to achieve this. These systems offer a comprehensive solution for managing customer relationships across multiple channels, enabling lenders to create consistent outreach that is highly personalized and increase conversion rates.

CRM systems provide a centralized platform for managing customer relationships across all channels, including phone, email, social media, and in-person meetings. This allows lenders to manage their customer interactions from one platform, providing consistency in communication and streamlining the process. This is particularly important in a highly regulated industry like mortgage lending, where compliance requirements must be met, and customer interactions must be carefully tracked and documented.

In addition, CRM systems provide a wealth of features to help lenders drive new business. For example, these platforms can provide detailed customer profiles, including information such as contact details, employment history, and credit score. This information can help lenders identify potential leads and tailor their marketing efforts accordingly. The use of data analytics tools can provide insights into customer behavior and preferences, allowing lenders to create targeted marketing campaigns that resonate with their target audience.

Personalization is a key aspect of modern marketing, and CRM systems help lenders create consistent outreach that is highly personalized. These platforms enable lenders to automate communication workflows and personalize messaging based on customer preferences and behavior. This enhances the customer experience and increases the likelihood of converting leads into customers. But not all CRMs are created equal.  Some CRMs that mortgage lenders are currently using were created at the same time as Blackberrys and pay phones.  While those products added significant value in their hay days, most of us would agree that their useful life has seen its day.  Therefore, lenders must look to Modern CRMs that provide today’s latest innovation to maximize their lending efforts truly. The personalization features of Modern CRM systems are particularly effective in helping lenders create a positive customer experience. Lenders can create a sense of trust and engagement with potential customers by personalizing communication workflows and messaging based on customer preferences and behavior.

One of the primary advantages of modern CRM systems is their ability to handle all lending channels in one platform, Retail, Wholesale, TPO, Consumer Direct, Recruiting and Reverse. This means lenders can manage customer relationships across various channels from one central platform. This not only streamlines the process but also ensures consistency in customer communication. This is important for creating a positive customer experience and building trust with potential customers.

One of mortgage lenders’ biggest challenges is managing multiple channels and keeping track of all customer interactions. Modern CRM systems solve this problem, providing a centralized platform for managing customer relationships across all channels. By integrating different channels and providing a comprehensive view of customer interactions, CRM systems can help lenders identify patterns and optimize their marketing efforts accordingly. In addition, lenders looking to streamline operations and reduce the total cost of ownership can no longer afford to pay for, support, and maintain a different CRM for retail, another for Wholesale, and another for Consumer Direct.

Another significant advantage of Modern CRM systems is their ability to improve the efficiency of the loan origination process. These platforms provide a central repository for all borrower and loan-related information, enabling lenders to manage the relationship of all parties involved and the entire loan process from one solution. This saves time, reduces the risk of errors, and ensures compliance with regulatory requirements. Modern CRM systems also provide powerful analytics tools that help lenders identify areas for improvement and optimize their marketing efforts accordingly. By analyzing customer behavior and preferences, lenders can gain insights into what drives engagement and tailor their marketing campaigns accordingly. This enhances the customer experience and increases the likelihood of conversion.

CRM systems are particularly effective in helping mortgage lenders drive new business. Lenders can identify potential leads and tailor their marketing efforts by comprehensively viewing customer interactions and preferences. This can help lenders generate new business and increase conversion rates.

Insellerate helps loan officers and AE’s close more loans with our award-winning Modern CRM, Lead Management, and Engagement platform, which handles all lending channels, retail, wholesale, TPO, Consumer Direct, Recruiting and Reverse.   Our advanced APIs allow seamless connectivity to a lender’s tech stack, and our native mobile application enables loan officers and AE’s to work on their files from anywhere at any time. Powered with AgentConnect, we empower loan officers to engage more effectively with real estate agents and borrowers, resulting in higher lead conversion rates, lower origination costs, and more closed loans.

Built by mortgage professionals for mortgage professionals, our innovative and easy-to-use platform drives user adoption while providing the tools needed to retain top talent. Our pre-built marketing content library allows a lender’s marketing team to excel at delivering the right content at the right time to enhance engagement.

Insellerate connects lenders with high-quality consumers interested in their product, so they can focus on what they do best – closing loans. With Insellerate as their guide, they’ll have the ability to reach consumers earlier in their decision journey, stay top of mind with strategic content and branding, increase loan production efficiencies, and close loans faster.

In summary, the right modern CRM solution can lower the total cost of ownership while improving communication across all channels for managing and enhancing relationships that help lenders close more loans.  The time to explore innovative Modern CRMs is now.

Josh Friend began his career as a loan officer and soon moved on to open six mortgage call centers. Over the past 21 years, he has grown to manage and train thousands of loan officers, processors, and marketing managers. That experience has helped him market to millions of consumers,  with that experience he has dedicated himself to building software for the mortgage industry since 2004.  With a keen eye for developing best-in-class sales processes, he leveraged automation & engagement software to build a better loan cycle. Combining the best from both a CRM and lead management system, Josh now enables lenders to achieve higher revenue goals with Insellerate’s award-winning CRM & Engagement Platform.