The 1 Thing Your LOs Need to Succeed in 2020

In today’s mobile era, borrowers are expecting an unprecedented level of responsiveness from their loan officers. And despite 75% of lenders thinking that they are communicating with clients enough, 38% of borrowers would prefer an even higher touch rate according to The Digital Mortgage Opportunity: A Perspective from Lenders and Buyers eBook. To help you capture maximum business in 2020, we connected with industry experts to gather their perspectives on what has helped their loan officers succeed this year.

Based on those insights, we found that many mortgage leaders attribute their success to delivering superior customer service and they do so by arming their loan officers with the tools to always stay connected with their borrowers. By leveraging mobile origination technology, lenders can boost their team’s responsiveness with the ability to follow up on new leads and abandoned applications, service their customers and close more business, from wherever they are.

But with so many options on the market today, how do you know which is the right mobile origination solution for your business? Here are some best practices from the experts to help you select the technology solution that is the best fit for your organization.

  • Determine your business requirements: Before you can match the technology to your needs, you first need to know your needs. Start with talking to your loan officers to understand their pain points and where there is opportunity to streamline your process.
  • Vet the user interface: Ensure that the platform you select is easy for your loan officers to use by giving a few members on your team the chance to test it out.
  • Ensure it tightly integrates with your LOS: The efficiency gains of going mobile on the front-end will be lost if it creates additional work on the back-end. Any information your loan officers complete in the field should be mirrored in your origination system in real-time.
  • Compare the capabilities each technology solution offers: Not all mobile origination solutions are created equal. Compare the mobile technology options to your capabilities wish list and look at the product roadmap to see what features are on the horizon.
  • Consider the pricing for each solution: Evaluate each option and decide which pricing model works for your budget, needs and requirements.

Check out our new eBook, “Enabling Loan Officers for Success in a Mobile Era”, to learn more strategies and tips to successfully rollout a mobile origination solution, train your loan offices effectively, and spur adoption across your organization.

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