42 Mortgage Technology Tools You Can Use to Close More Deals Today

May 29, 2020

Mortgage Technology tools come in all shapes and sizes. We’ve dug in to provide a comprehensive resource that explores solutions for your business.

Your experience as mortgage lenders today looks a lot different than what we’ve come to know.

Curbside closings
Virtual showings and meetings
New guidance around qualification criteria

These are all just a part of the new, digital-first, normal we live in.

If one thing’s for sure, your adoption of mortgage technology is going to be paramount to your bottom line.

More and more lead management, lead conversion, automated marketing, and CRM software is becoming available each and every day. Which is why we’ve put together this post to help you make sense of it all.

It’s important to take a step back and make sense of all the technology you use today. What’s missing? What part of your business is struggling? What needs to scale better? What needs to scale back? While considering all of the mortgage CRMs, automated email, mobile app, and contact management software for the mortgage industry below, ask yourself these questions.

Mortgage CRM and Marketing Suites

We have a saying here at Structurely, “the best CRM is the one you actually use”. So I ask, are you actually using your CRM? If not, here’s a list of different mortgage CRM software specific to the industry, so they’re tailored to your exact needs, like having a Loan Origination Software (LOS integration).

If you already have a CRM, compare it to those below. Your CRM must be your single source of truth when it comes to everything lead management related.

Does your CRM allow you to have custom fields to remember leads’ birthdays, does it allow you to text leads, send direct mail?

Take a look at the options below and decide what’s best for one of the most important tools in your business.

Mortgage Lead Generation Websites and Services

Mortgage lead generation is changing like never before. Whether you’re paying for leads through websites or services, running your own pay-per-click (PPC) campaigns, or have referral partners or a solid sphere of influence, the best businesses have a healthy mix of all of the above.

👉 Read our FREE resource “The Definitive Guide to Mortgage Lead Generation in 2020”

While checking out the options below, consider how you can diversify your business more. We can’t help you build up your personal sphere of influence (SOI) or referral partner network, your lead generation efforts can compound by adding sources like below to your (PPC) efforts and ultimately build an exponentially larger SOI and referral network.

So maybe it’s time you add one of the lead generation websites or services below to your mix?

Loan Origination Software (LOS)

If your mortgage CRM is your business’s brain, your LOS is your heart. Without it you wouldn’t be alive, and it constantly works to replenish your CRM and pipeline. Every LOS is different and your business might have very different protocols, needs, and requirements than others, but for the most part, they share some of the same features – they originate loans by giving your leads an online portal to start their loan application, then you can continue to process and progress their loan until they’re clear to close alongside you.

Many LOS products are integrated into your CRM. You can think of this like managing a deal pipeline, where your CRM becomes your source of truth and your LOS is the portal where you’re working with your lead.

Other LOS products can even integrate with your lead generation and marketing software to automate the entire process from the first contact to clear to close. This means doing things like automatically texting your lead after they’ve uploaded their financial documents into your portal to tell them the next step they need to take.

Your LOS also needs to be compliant with your business security and lending practice criteria. When considering the options below, look at where you and your leads’ data is going (aka who owns the data), where it’s being stored, and if you can export or delete your data if you decide to leave.

Take a look at how these LOS products stack up to your business stack below:

👉 Read our FREE ebook “Using Technology to Generate More Mortgage Leads”

Putting it all together

With a mortgage lead generation website to attract new leads, loan origination software to get leads started down your application funnel and a mortgage CRM to manage everything in between you can run entirely online in this digital-first world.

Curbside or virtual closings will be simple and seamless. Your clients can get automatically updated via a well-timed text, email, or call that’s tracked in your CRM so you’re always on point. Maybe you’d even be so inclined to add artificial intelligence (AI) to your mortgage tech stack to follow-up and qualify your leads 24/7 365 while integrating with all your lead generation and CRM providers (lucky for you Structurely does just that).

With mortgage technology you can run your entire business from anywhere you have a connection to the internet. Because of how quickly we’ve all had to adapt, and will continue to do so, you need to be paying attention to this technology more so than ever before.

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