Spring Clean Your Mortgage Processes

Loan Pipeline Management
Loan Pipeline Management

Spring Clean Your Mortgage Processes

mortgage processes

March is here and spring is officially around the corner, so consider spring cleaning your mortgage processes! This could be as simple as re-connecting with past clients or as big as integrating a helpful CRM. Also, it is time to focus on your mortgage processes now before the traditionally busy spring homebuying season begins.

Keep reading to learn how to spring clean your mortgage processes as a loan officer!

mortgage processes

Evolving Mortgage Processes

Typically, for those in the mortgage industry, the winter months are slower for business. This is due to people cozying up in their homes and resting due to the holidays and colder weather. But, with the refinance boom, we did not see this winter lull in 2020. 

Even so, you should be preparing for the busyness that can pick up in the spring months. So, this is the ideal time for professional development and growth. That being said, waiting to update your mortgage processes in the busy months leaves you with less time to do so.

How Can You Prepare?

Many have endured challenges this past year due to the COVID-19 pandemic, and the industry will most likely change again. So, it’s time to become even more secure in your mortgage processes

Also, consider implementing specific tools and technologies to optimize your operations. 

Expand Your Toolkit

The technological landscape is constantly changing. With this in mind, it’s even more critical to utilize digital tools and marketing techniques to enhance referral relationships and increase operating efficiency. Also, maintaining systems and disciplines are essential for successful loan officers.

Below are a few tools that top producing loan officers use to originate year-round. 

Useful Tools for Loan Originator Productivity

  • Jungo: Mortgage-optimized CRM built on Salesforce, ideal for marketing, as well as task and workflow management
  • Docusign: Automates the signing of documents 
  • GoToMeeting: Online meeting platform
  • Calendly: Meeting scheduling platform
  • Mortgage Coach: Mortgage and home buying advice platform
  • Floify: Point-of-sale (POS) portal for borrowers to stay informed about their loan
  • Encompass: Loan Origination Software (LOS)
  • BombBomb: Video email service
  • Optimal Blue: Pricing Engine (PPE) for quick rate quotes

These tools increase productivity. Therefore, this frees you up to focus on what’s important: closing more deals. Establishing, refining and reinforcing your mortgage processes and toolkit can have a significant and lasting value for you and your team.

Continue Training 

There is so much value in pursuing new training opportunities. Loan officers can always grow in their practice. So, consider joining a coaching program. Some top training programs include the CORE Training, Mortgage Marketing Animals, or participating in a mortgage focused Facebook or LinkedIn group. Find a group where you can continue to learn, grow, and stay ahead of the ever-changing mortgage industry. 

Training for new products and tech platforms is always important. Also, it also is critical to make sure that offseason mortgage processes reflect conditions and developments in the industry. So, be sure to develop skills and find new ways to communicate so you can differentiate yourself from the competition.

Find Your People

A great relationship with a real estate agent is one of the most important resources for successful loan officers. So, building long term relationships with referral partners is integral in helping loan officers fill their pipeline. Great LO and real estate relationships mean more deals and success for both parties. 

Today, these interactions are more limited and infrequent due to many real estate agents and mortgage professionals working remotely during the pandemic.

So, trying to develop new relationships can be challenging. This makes it all the more important for mortgage professionals to find new ways to communicate and connect with current and prospective industry partners. Virtual communication is key when entering this spring selling season. 

Become Social Media Savvy

One of the best ways to bolster marketing, amplify messaging, and connect with potential clients is to effectively use social media. It is important to recognize that each social media platform has its own purpose. 

So, start small. Choose a few platforms to post content on. Also, make sure you engage with followers. 

Consider the 80/20 rule: about 20% of your content should be promotional, and the other 80% should be educational or industry related. Then as you learn more about what your audience enjoys, you can continue to grow your platforms. 

So, have fun with it! Social media is all about organic connections, effective branding, and finding the people who would benefit most from your services. 

Bottom Line

Spring cleaning your mortgage processes should not feel like a chore. This is the perfect time for you to expand your niche. Improve your programs and give attention to areas in your business that are normally set aside. Also, create value that extends well beyond individual opportunities. 

So, stand out in the crowd! New and improved mortgage processes can be used in ways that supercharge your lead generation with people who need what you have to offer.