Refine Your Tech Stack for Seamless Mortgage Integration

Posted March 16, 2021
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During these times of digital disruption and changing workplace expectations, any mortgage brokerage has to utilize new tools and innovative tech effectively in order to run an effective broker shop. This fact serves as a true equalizer in the industry in that no matter whether you are a big or small broker shop operation, how you leverage tech will be key to your success.

Mortgage brokers will need to take into consideration a number of factors when considering which software is most appropriate for their business. You will need to determine: Which type of software tools will assist me with customer relationship management and grow my client base? Is there an app that can automate my social media presence for a consistent brand voice? Which tools will maintain a strong reputation while also generating leads to keep my business growing? Finally, is there a means by which all these tools can work together?

We have built a strong roster of industry partners through its Brokers are Better Network all with the focus of bringing the wholesale community access to lead generation, CRM, marketing, and continuing education hoping to empower brokers to be the best at their job every day. Further many of these vendor partners possess the capability to work in conjunction with each other so as to maintain a refined tech stack that seamlessly integrates across several platforms.

What Exactly is a Tech Stack?

A tech stack is a group of software tools or services that work in partnership with each other in order to achieve a shared business objective. Many times these tools are directly integrated or linked with each other and allow for data and other resources to be shared across multiple software portals

Your mortgage business could also use multiple tech stacks, such as a marketing tech stack for your marketing and social media process and a client engagement tech stack that refines the process by which you interact with potential clients and grow that relationship.

In the process, the hope is that your tech stack will provide for a smooth transition from one technology service to another all while improving your business procedures in the process. Mortgage brokers have a unique set of needs that AIME believes must be present and accounted for in an effort to strengthen their operational capabilities across several disciplines. Luckily, a number of these tools are fully capable of working together which will allow your business to thrive.

Why Do You Need A Tech Stack?

Technology has set off a fierce pace of innovation in the mortgage industry and mortgage brokers must be able to adapt to new customer service expectations from prospective clients.  An effective tech stack can assist brokers in a multitude of areas ranging from client experience and retention, strategic compliance and regulatory knowledge, and improving your overall effectiveness in terms of operating throughout the mortgage process.

The entire process of obtaining a mortgage can be broadly divided into lead generation, client engagement, loan processing, and loan closing which can make a number of the following technologies we will highlight incredibly important in order to reduce costs and enhance the customer experience.

Technology Integration Options for Mortgage Brokers

Improving Client Management

A streamlined customer relationship management (CRM) tech stack assists brokers in regard to client engagement and management as they expand their pipelines and close loans more efficiently in hopes of developing long-lasting business relationships. Some of the main features a mortgage CRM includes are a centralized contact database and keeping track of client communications, creating a space for referral opportunities, and loan pipeline management.

  • Brokers Are Better Network partner, Insellerate, helps broker shops of 8 or more close more loans through better borrower engagement with automated multi-channel marketing such as social media, ringless voicemail, email, text, and mobile call routing. The Homebot platform will see to it that you maximize relationships built through Insellerate with repeat and referral business for mortgage brokers by leveraging new consumer relationships for more business. 
  • LionDesk is a CRM with features such as video emailing, texting and an AI (artificial intelligence) lead nurturing system that will allow you to maximize leads generated through a leadPops integration will create a refined lead management process that will maintain positive growth potential for your business. Once you have successfully obtained leads and developed strong relationships, Oggvo will allow you to highlight your customer service by soliciting from your clients for referral purposes.
  • Shape Software allows brokers to build better relationships in an end-to-end process that takes you from pre-loan consumer engagement which includes leads generated through leadPops which ensures comprehensive satisfaction due to an automated loan process.

Making Over Your Marketing Strategy

Before technology completely transformed the manner in which brokers interacted with consumer marketing in the wholesale channel was not necessarily thought of as innovative. New technologies however now provide for marketing automation which enables mortgage brokers to create highly focused messages based on individual client needs and feedback in order to execute mortgage marketing campaigns. These strategies in the process will improve your business’s presence on social media, allow you to stand out from the crowd, and more efficiently communicate with existing and potential clients.

  • WikiRealty effectively connects loan officers directly with consumers at the beginning of their search process. Brokers will be able to utilize this platform through a fully automated social media and search engine brand growth and content strategy. These tools will allow brokers to market directly to consumers through leadPops and generate leads based on marketing strategies developed by WikiRealty.

Continuing Education for Business Development

The mortgage market is an ever-evolving industry. With constant market and trend changes on the regulatory, legislative and operational level it is no wonder brokers are often left behind.  That’s why brokers must prioritize continuing education in order to ensure that they are constantly brushing up on important industry insights.  While this may seem like an inconvenience, the practice of continuing to be as informed as possible is actually in the best interest of your customers as well yourself.  Participating in continuing education will allow you to stay current on regulation and compliance standards, streamline your social media marketing through the latest trends, and give your clients peace of mind.

  • The Art of Homeownership provides a platform for mortgage professionals to increase lead generation and conversion, develop new referral partnership markets and build a true succession plan for their business which comes in handy with daily coaching sessions through a subscription with MBS Highway. A strengthened knowledge base and stable platform for lead development work effectively with Homebot’s personalized portal that delivers actionable intelligence throughout the entire homeownership lifecycle to every client and prospect.

Addressing Low Credit

A credit score tells lenders how likely you are to pay back the money you borrow and eventually satisfy the terms of your mortgage. A high score sends all the right signals, while a low credit score, sometimes referred to as “bad credit,” can keep you from getting approved. As any broker knows, The credit score generally required for a mortgage often depends on the type of loan. Government-backed loan programs such as those originating from the FHA, VA, and USDA generally have lower credit-score requirements than conventional mortgages. But it’s the lender that eventually decides what the minimum credit score will be for each loan product.

If your client’s credit score is at or near lenders’ minimum, the lender could demand a larger down payment, charge a higher interest rate or require you to pay more fees all of which are not in your client’s interest. In short, they will likely end up paying more for a home loan. The best way to avoid these penalties is to elevate your credit score before you apply and thankfully there is an option at the broker’s disposal that can navigate a potential credit obstacle.

  • will allow clients to appear as qualified leads and seamlessly allow borrowers to move through the loan process. Once completed, brokers can begin the credit improvement and analysis process through My Credit Guy which provides brokers with a free summary of a client’s credit report and creates a custom game plan for getting them back to the closing table as quickly as possible.

Generating Business and Retaining Clients

Lead generation and retention are a leading indicator of your mortgage business’ health and staying power. It is the key indicator of your ability to keep customers returning to your product for future purchases and engagement. Once a new client has been successfully engaged, there should be a strategy aimed at retaining and building the relationship, helping to create future revenue and referral opportunities.

  • leadPops lead generation systems will integrate well with Homebot and Shape’s consumer intelligence software which leans into client engagement and referral submissions. Partnering these tools with WikiRealty and will allow brokers to develop their brand on social media and highlight qualified leads that brokers have successfully established relationships with throughout the loan process.

Maintaining Your Reputation

Many companies do not immediately think of innovative technology in an attempt to assist them in their endeavors to establish a solid brand image. Reputation management has become especially important over the course of time and even the best businesses will run into issues along the way. That is why having a stable structure tasked with maintaining your reputation will allow you to create a reliable presence and relationship with consumers that inspires trust.

  • Oggvo will allow you to streamline the process in which clients leave online reviews and also optimize your Google My Business page so you dominate your local organic searches so you can establish a clear brand reputation. From there, Pre-Approve Me will allow you to capitalize on your enhanced notoriety through a customizable mobile mortgage technology that connects borrowers, realtors, and loan officers into a single mobile platform. Bringing it all together brokers can integrate with Liondesk and communicate with many of your new connections by using features such as video emailing, texting, and other systems that develop leads for brokers.

Keeping in Touch With Past Clients

There’s no denying that technology is changing the way mortgage brokers strategize keeping in touch with past clients. There are fears that brokers could lose their jobs to automation and many of the tools we have discussed today. Brokers should see this as an opportunity to improve their client engagement skills, especially when they integrate their interpersonal and local knowledge with the speed of technology.

  • leadPops is an ideal platform for brokers to use when thinking about developing their client engagement strategy and focusing on ROI when building relationships. Integrated with the Art of Homeownership which includes subscriptions to Homebot and brokers can add value to their borrowers before, during, and after a transaction. This will allow brokers to increase lead generation and conversion, develop new referral partnership markets, and build lasting client relationships for your business.

Set Your Business Up For Future Success

To have any real chance of becoming a top-producing mortgage broker who is generating high levels in origination volume per year you must set your business up for future success with the latest technology at your disposal. In today’s highly digital and interconnected world, it’s all about creating a strong mortgage tech stack.

Every broker, mortgage loan officer, and the lender should have a number of solutions covered and working for them in an integrated and concise fashion. This is even more important for those with remote and virtual loan officers and those who are serious about growth and longevity. This can require tools designed to be effective for the individual broker, loan officer,  dynamic team, and at the ownership level for managing the brand, client engagement, lead generation, and compliance. The team at AIME has worked hard to create this community through its BAB Network of vendor partners and we encourage you to check out all they have to offer so that you can build up your business tech stack today!

This blog article is sponsored by CF Wholesale, an approved AIME Lender Partner. CF Wholesale is a tech-focused, process-driven, nationwide wholesale lender. CF Wholesale’s mission is to deliver the best end-to-end mortgage experience through innovative tools, technology, training, and talent, ensuring brokers have full control over the transaction. Not connected with CF Wholesale? AIME will make the introduction. Log into the AIME Portal today to get connected.

Learn more about the Brokers Are Better Network.

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