The mortgage business is booming. Fueled by pandemic-induced economic uncertainty, interest rates are at their lowest point in years. Demand is through the roof as people try to take advantage of the low rates to buy homes and to refinance existing mortgages. Mortgage brokers and lenders must be on cloud nine, right?
Well, yes and no. Here’s the problem: mortgage brokers and lenders can’t keep up with demand from customers, and it’s affecting both performance and customer satisfaction. As the number of loan applications has grown, the
average time to close for all loans has increased from 48 days in January 2020 to 58 days in January 2021. Brokers and lenders are doing their best, but it’s simply not good enough for today’s borrowers.
One of the main obstacles to better performance is the mortgage application process itself. The combination of data, paperwork, and multiple manual handovers makes for a slow process guaranteed to frustrate both customers and mortgage industry professionals.
If you’re a mortgage broker or lender struggling to figure out how to keep your customers happy, prevent your employees from burning out, and close loans as quickly as possible, you’ve come to the right place. We’re here to tell you how adopting Salesforce can transform your loan application and origination process and position your company for continued growth.