Are you neglecting your most important tool as an originator?

by Ryan Smith11 Apr 2018

With the mortgage market becoming more challenging by the day, originators need to take advantage of what they can control and already own. However, most originators forget that this resource is available or simply don’t understand the value. What are we talking about? The thing that you spend countless hours and countless dollars building – your database.

You probably keep your customer data locked away in Velocify or Insellerate or Salesforce or some other CRM. You probably have some automated emails and texts and other forms of templated messages that you send to this customer base, but do you actually know which one of your customers needs a loan right now? That is a question you should be dying to get an answer to.

That is exactly why MPA teamed up with Sales Boomerang to put on a free but invaluable webinar April 18 at 2 p.m. EST to show originators how much they are missing out on. Today originators need more than just automation, they need intelligent automation. Blanket cover emails don’t work like they used to, but targeted, ultra-relevant messaging are a different story.

The founder and CEO of Sales Boomerang is putting on this exclusive webinar to show the industry the issues originators are facing if they continue to treat all their customers in their database with a one-size-fits-all mentality.

“This webinar is about how right now – and probably now more than ever before – it’s important to manage your database and your customer relationships that otherwise weren’t available before,” said Alex Kutsishin, co-founder, CEO and chief ROI booster of Sales Boomerang. “The most valuable asset you have is your database.”

And that’s because your database contains not just the borrowers you helped get a loan – but prospective borrowers who might not have qualified then, but could qualify later.

“The person you pre-approved, the person you spoke to and educated on how to get a loan – those people are the most valuable,” Kutsishin said. “If you are purchasing leads or getting referrals – or however you generate opportunities – you need to keep them on your radar and the best way to do it is how some of the biggest and best companies around the world do it, with customer intelligence.”

Among other things, the webinar will show originators:                                                                                                

  • How top lenders take advantage of their databases in both smooth and turbulent times
  • The best way to close – and the best way to turn down – a deal
  • How you can add a 10% to 30% lift to your business year after year

Most of all, Kutsishin said that originators needed to realize how much potential business they were losing by not managing their database properly.

“It’s amazing how much we’ve discovered in missed opportunities in less than a year – more than $4.4 billion in real loans missed out on,” he said. “And that’s just 35 lenders. $4.4 billion.”

And that’s because most originators simply don’t keep tabs on the potential customers in their database like they should. And when those customers are ready to get a mortgage, they end up going to someone else.

“The loans you funded are in your database, but there’s probably three to four times more people you didn’t fund – and you should be focusing on them as much or more than your past customers,” Kutsishin said.

The free webinar, “No Borrower Left Behind,” will be held April 18 at 2 p.m. EST. To register for this free webinar, click here.

 

Related stories:

 

 

 

Poll

Should CFPB have more supervision over credit agencies?