Stay Engaged with Borrowers Using Email Marketing

using email marketingOne of the biggest struggles today’s lenders have is shifting from a refi market to a purchase market. The purchase cycle timeline is quite a bit longer in comparison to refi – sometimes six months or more, depending on how prepared your borrower is to buy a home. As the borrower goes through the process of finding and purchasing a home, it’s important for the lender to stay engaged with the borrower – and with the borrower’s real estate agent. Fortunately, using email marketing can be an effective tool to sustain continuous awareness in both borrowers and referral partners.

Here are three ways to stay engaged with purchase borrowers:

#1 – Purchase Drip Campaign

A purchase drip campaign is a series of automated emails that nurture borrowers during the home search process. The campaign can be designed to last for several months, based on the borrower’s time-table, and it should include a mix of phone, email, direct mail and even text messages, if your borrowers prefer it.

For your campaign, consider communication touches on Fridays and Mondays, before and after the weekend, which is when most borrowers go house hunting. You can try sending house hunting tips on Fridays, and then send another email on Monday to find out how the house search went. Every email should be focused on a specific topic or step, and it should be short and to the point. Remember the 500-character rule.

Your campaign should include monthly email updates that incorporate timely insights on market conditions, rate forecasts and more that can be followed up with a call.

#2 – Loan Process Communication

A lot happens during the loan process, both expected and unexpected. With email, you can automatically notify both borrowers and your referral partners of any changes in the loan application and closing status, such as when the appraisal arrives or when the loan has cleared underwriting. Loan status information can also be automatically inserted into emails, so your borrower always knows what is happening with the loan.

#3 – Post-Close Follow-Up Campaign

Did you know a sound portfolio retention strategy can produce as many as 12 additional loans per loan officer each year?

Customer retention is a huge challenge for lenders. It becomes easier with a consistent post-close email campaign that reminds past clients who their trusted loan advisor is.

Consider sending out holiday emails, birthday messages, and timely information on market conditions that might be of interest to a borrower thinking of refinancing. If a past client’s needs have changed, they may appreciate you reaching out to make sure they still have the right loan product. Don’t forget your referral partners, either – they too need reminding that you are ready to help their clients.

With all automated email marketing, remember to personalize the subject line.

To make sure you are making the most of your email marketing efforts, download the full ebook – An Email Marketing Guide for Mortgage Lenders – for more tips.

Chris BackeAbout the author: Chris Backe is the director of financial services at Velocify, and a sales automation expert with more than 20 years of experience offering technology solutions to multiple industries. Chris has spent the last 10 years in the financial services industry, holding various positions at industry leading technology companies including Ellie Mae and Salesforce. He can be reached at

  • Daniel Kimm


  • Rachel Lurie

    Great tips, love the idea of sending out personalized cards to stay in touch even after close.

  • Tim Dunlea

    Thanks Chris

  • Michael Mendelson


  • AlyssaTrenkamp

    The purchase sales cycle is long, make sure you have the email endurance to sustain loyalty and interest. Good tips Chris!

  • Rose Sandro Mahowald

    Valuable suggestions. Thank you for sharing!

  • Tavish Harrison

    I think the best way to handle constant contact is through a great CRM. Something that will allow you to set reminders of those important times for contact, while allowing you to setup automated drip campaigns. This can be a crucial step in keeping communication up and ease the process along for potential buyers. Check out the best CRM for mortgage loan officers if you’d like a great way to keep up with clientele, even for keeping track of birthdays and other things that tend to slip the mind when you’re so busy with your everyday business.

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