How to Choose the Right Mortgage CRM System for Your Business

How to Choose the Right Mortgage CRM System for Your Business

Table of contents

In the competitive mortgage industry, successful loan officers and lenders know they need to stand out above the competition. In an increasingly digital age, implementing new technology can help streamline your business process and connect with your target market. 

To help you choose the right mortgage CRM, consider comparing features like contact management, automation, referral tracking, and scalability. 

Key Takeaways

  • Choosing the right mortgage CRM can help streamline your business processes while connecting with your target market, giving you a competitive edge in the mortgage industry.
  • The right CRM system should have an intuitive format, relationship and contact management, automation, communication tools, pipeline management, marketing features, customization, scalability, regulation compliance monitoring, referral tracking, and LOS integration.
  • The advantages of a mortgage CRM for your business include a better understanding of your clients and target audience, beneficial audience segmentation, more consistent communication, and streamlined lending processes.
  • Some of the best mortgage CRM software systems on the market include Loan More, BNTouch, Jungo, and Velocify, each with their own unique features to benefit your business. It’s important to find a CRM platform that meets your business needs and helps achieve your goals.

Features to look for in a mortgage CRM system

Not every CRM is created equally, and it is important that you take the time to determine which tools are a must-have and which ones won’t really offer the benefits you are looking for.

Here we take a look at some of the top features offered by CRMs and how they can benefit your business.

1. Intuitive format

When choosing a mortgage CRM, you want to look for one with an intuitive format that is easy to navigate and use while providing you with all the functionality you need. The idea of a quality CRM is to make your work easier, so you want one that you can use from the start with little assistance.

2. Relationship and contact management

The main goal of any quality CRM is customer relationship management. The mortgage CRM that you choose should allow you to track information and interactions with all your contacts, including leads, clients, and even referral partners.

3. Automation

Manually entering data can take up many hours of a loan officer’s day, as well as increase the risk of human error. A quality CRM that offers data automation allows you to eliminate tedious data entry while still maintaining a quality client profile from the moment they enter your pipeline.

4. Communication tools

A quality mortgage CRM provides a wealth of communication tools designed to better manage and communicate with your contacts. These tools allow you to automate communication with clients and ensure that you are following up in a timely manner, leaving no contact left behind. For example, submitting a contact form on your website can automatically trigger a welcome email.

5. Pipeline management

Pipeline management tools allow you to see a clear picture of every lead and client in your database. It allows you to follow every step through your pipeline and see where and how you may be able to improve your efforts.

6. Marketing features

Robust marketing features can make all the difference when it comes to choosing a quality mortgage CRM. The right CRM will allow you to establish targeted email marketing messages and marketing campaigns that can be automatically sent when certain conditions are met. In addition, the right CRM offers campaign monitoring and analytics that can provide you with a clearer picture of what is working and what isn’t.

7. Customization

When choosing a mortgage CRM software, you want to ask just how customizable the platform is. Can it help you accomplish tasks specific to your business needs? Can you make changes that help ease your workflow?

8. Scalability

While your business may only be starting out and the current CRM meets your needs, will the CRM grow with your business? As your client and lead generation grow, it is important that you have a CRM in place that can handle the larger flow and allow for better lead management and a faster loan process.

9. Regulation compliance monitoring

As a mortgage professional, it is essential that everything you do meets regulation compliance. The best mortgage CRM will include compliance features, such as the ability for email opt-outs in email marketing.

10. Referral tracking

Referral tracking allows you to measure the effectiveness of your current referral program in order to see what is working and where you may need to make adjustments. For example, are all your referral leads coming from one referral source? If so, maybe it is time to focus on building a solid referral network.

11. LOS Integration

If you have quality loan origination software (LOS) already in place, chances are you don’t want to switch to a new system. The same can be said about a specific email platform. When looking for the perfect mortgage CRM, you want to find one that offers all the benefits you are looking for, but that allows for easy LOS system integration with tools you already have in place.

Man holding a magnifying glass on wooden blocks with the word CRM

What is a mortgage CRM?

CRM stands for customer relationship management and is a software platform that helps businesses better manage and understand their audience and existing clients while also providing a way to automate and increase efficiency in many aspects of a business. A mortgage CRM allows loan officers and mortgage brokers to automate mortgage marketing, maintain regular communication with leads and clients, and track all activity from lead generation to closing.

Advantages of a mortgage CRM for your mortgage business

Adding the right CRM to your mortgage business can make all the difference when it comes to day-to-day business success. Some key advantages when implementing a mortgage CRM in your business can include:

  • A better understanding of your clients and your target audience
  • Allows for beneficial audience segmentation and direct targeting
  • Allow for more consistent communication and better professional relationships
  • Streamline the lending process through digital document management

Best mortgage CRM system solutions

There are numerous CRM software systems on the market today, making it difficult to determine which platform is best for your business. Here we highlight some of the best mortgage CRM software, their key features, and how they can benefit your business.

1. LoanMore

Committed to the success of mortgage professionals, the LoanMore CRM platform is created by Good Vibe Squad. The team at Good Vibe Squad worked directly with mortgage professionals in order to design a CRM that truly targeted the needs of loan officers, and LoanMore does just that. Unlike general CRMs built to address a wide range of tools and business automation, LoanMore focuses on the specific tools necessary to meet the needs of the mortgage industry better. From everything to mortgage-specific messaging to the correct timing of the automation schedule, this CRM helps you work smarter and not harder. Some top features include:

  • Complete lead-to-client journey automation
  • Done-for-you appointment booking
  • Long-term nurture campaigns
  • Referral campaigns
  • Power dialer with call recording
  • Lead source integration
  • A full custom-built system to meet your needs

2. BNTouch

BNTouch is a mortgage-focused CRM platform that helps loan officers and mortgage lenders automate marketing, boost lead conversion, and stay in the minds of their contacts. They offer a robust suite of tools that are geared specifically toward the mortgage industry. These top features include:

  • Email and SMS marketing automation
  • Borrower and partner management
  • Borrower and partner portals with mobile apps
  • Ability to create modern web pages and landing pages
  • Live chat
  • Customized video marketing
  • Customizable digital 1003 mortgage application
  • Integration with numerous platforms

3. Jungo

Jungo is a CRM that focuses on the mortgage and real estate industries. Jungo is a cloud-based CRM created through the foundation of Salesforce CRM and provides the ability to customize the CRM to meet your business needs. The top features of Jungo include:

  • Fully customizable
  • Loan document management
  • Loan transaction tracking
  • Robust data analytics
  • Integration with numerous platforms

4. Velocify

Velocify is one of the top CRM software platforms in the world, servicing many large clients. Included features offer a mix of digital, sales, and customer service tools that help businesses generate leads and move them seamlessly through the sales pipeline while maintaining customer satisfaction. Top features include:

  • Automated email and text message marketing
  • Integrated mortgage coaches
  • Personalized loan scenario presentations
  • Robust analytics

Choosing the right CRM for your business

Choosing the right mortgage CRM for your business may be the most important decision you make this year. It is important to find a CRM platform that offers all the tools you need to achieve your goals. Finding the right one can take time, but the right CRM will save you much more time in the long run.

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