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Company Dashboard Components for Lenders

Jun 08, 2023

Company dashboards are the mortgage executive’s surefire shortcut to understanding what’s working in their business, measuring progress, and planning next steps. A quick, regular look at success metrics, especially when their dashboard is connected to a mortgage CRM, will help lenders make daily decisions and take consistent actions that get them closer to their performance goals.

Read on to explore some common components of a mortgage company dashboard.

A Mortgage Company Dashboard Should Show Production at a Glance

When a mortgage executive logs onto their desktop on a Monday morning (on the off chance they haven’t spent most of the weekend there already), they’re going to want to see overall progress toward goals in terms of loan production.

The dashboard should be able to show production breakdowns in several ways, including: 

  • number of closings per time period (month, quarter and/or year to date)
  • loan amounts (averages and totals)
  • types of loans
  • revenue per loan
  • profitability
  • percentage in relation to set goals 

LO and branch and office averages should be available too.

Success Metrics Should Include Performance Analytics

Performance statistics, which help identify process bottlenecks and how long it takes to complete activities, can help a mortgage executive quickly see where breakdowns may be occurring in the loan process. For example, the percentage of leads that convert into loan applications will indicate how well the company is doing in the earliest stages of relationships, when borrowers may be evaluating several lenders. The percentage of applicants who close on their loans, on the other hand, will show how well the company is doing with getting applicants through the process and into their homes.

Seeing and understanding these percentages also helps mortgage executives with planning. Let’s consider some simplistic, if not realistic numbers. If the company needs to close 10,000 loans and gets 90% of applicants to closing, then they’ll need about 11,200 applicants. If 50% of leads become applicants, they’ll need 22,400 leads to meet their end goal. Those numbers may indicate a reprioritization to contact more prospects is needed.

Mortgage CRM Metrics Should Be Part of a Company Dashboard

When integrated with the company’s Loan Origination System (LOS), a mortgage CRM like Surefire can show all of the data listed above. And there’s much more still to glean.

A dashboard that’s part of or integrated with a marketing automation CRM can also demonstrate the company’s level of interaction with customers. CRM-connected dashboards can summarize responses to customer surveys, for example. And they can show the number of applications or closings generated through particular CRM activities – such as the percentage of refi alerts that resulted in an app or closed loan.

They also can give suggestions for actionable next steps by identifying valid alerts and opportunities that can still be acted upon at an individual level. For an executive’s view, the dashboard might identify white space in the CRM, including the types and percentage of alerts that were not actually acted upon by LOs.

That white space could be purposeful, such as being a loan type no longer being prioritized, or if they’ve just been overlooked they may be “low hanging fruit” that can be immediately actionable and help the company gain new business from repeat customers.

Trends are Company Dashboard Friends

As important as the raw numbers are, their true value is in helping mortgage executives to see trends. Comparisons to last month/quarter/year show the overall view rather than the specific numbers – they can see the forest in addition to the trees, so to speak.

If you’re interested in seeing how the Surefire℠ CRM and Mortgage Marketing Engine by Black Knight can set your company dashboard on fire (in a good way, of course!), sign up for a demo today.


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