Getting ready for the big commitment

Getting ready for the big commitment

October 28, 2013 | Kelly Booth

Velocify Engage for Mortgage Purchase – new automated guided selling technology that helps originators nurture relationships with borrowers and real estate agents.

The key to selling is trust. Once you earn it, doors open. But in the mortgage business, trust does not come easy these days. Because a home is usually the most expensive item anyone buys, earning trust takes much more time and effort than selling someone a pair of shoes. In fact, because the relationship between loan officers and borrowers can last weeks, months, or even years, it’s quite like getting engaged. The levels of trust required for this big commitment can go pretty high.

The purchase process, as many know, is a very involved, complex sales process that requires the loan officer to be very attentive to the needs of the borrower throughout the process. This can include responding quickly to incoming requests, offering helpful reminders, checking in frequently throughout the process and ensuring transparency for all key stakeholders – the real estate agent, listing agent, attorney, etc.

Unfortunately there hasn’t been an easy way for loan officers to prioritize the many activities they have to manage and ensure follow up is happening with all potential borrowers and stakeholders at the right times. With this problem in mind, we set out to automate routine tasks in the purchase process to help streamline it for the loan officer. The result – Velocify EngageTM for Mortgage Purchase – our new automated guided selling technology that helps originators nurture relationships with borrowers and real estate agents.

Launched as a part of our LeadManagerTM product, Engage for Mortgage offers two automated guided selling paths, Engage for Mortgage Purchase and Engage for Mortgage Refinance. Each path helps loan officers quickly assess what stage of the buying process a borrower is in and establishes the proper workflow to make things happen quickly and with maximum engagement on the part of the borrower.

As mortgage interest rates rise, I believe Engage for Mortgage Purchase will be particularly popular, especially among lenders hoping to transition to a more purchase mortgage-oriented business. For example, it sends automatically generated emails to guide borrowers about next steps in the home buying process, and reminds loan officers to make Friday calls to borrowers who will be shopping for a home on the weekend and Monday calls to follow-up on how the home search went. It also keeps Realtors and listing agents in the loop, so the loan officer can earn their trust too—and ideally, their referral business.

I’m pretty excited about Engage for Mortgage Purchase. If you’re in Washington D.C. this week for the Mortgage Banking Association’s convention, why not “get engaged” with us, and see for yourself? We’re at booth #315 in the exhibit hall. And don’t worry… we won’t ask you for an engagement ring!


Categories: Finance and Mortgage

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