Marketing directly to borrowers lets lenders flex their brand's value muscle. Surefire CRM helps lay the framework for seamless automation with consumer direct lenders.
Consumer Direct Lending
As the lending industry continues to evolve, your customer’s demand for digital integrations increase. Consumer direct lenders provide lending options to a higher volume of borrowers using mortgage CRM software and other apps to provide a lending experience that is web-based, where traditional retail lenders use loan officers to work directly with the borrower on their loan.
This Article Covers:
The key differences between consumer direct lenders and other types of lenders
How consumer direct lenders rely on technology to close more loans per year
Integrations consumer direct lenders need to flourish
What is a consumer direct lender?
Consumer direct divisions of mortgage origination companies offer a quick, efficient online experience for completing the entire loan process digitally. Typically these loan originators rely on broad marketing campaigns and programs to bring inbound leads to consumer direct loan officers.
Originally, consumer direct lending was thought of as a novelty, but during the post-crisis housing recovery, low-interest rates created the environment for tech-savvy home buyers and refinance customers to dominate the market. These customers wanted to engage with the loan origination process in the digital world.
With some estimates indicating that more than half of homebuyers complete their mortgage process digitally, many lenders are looking to adopt the structure of a consumer direct model.
What challenges do consumer direct lenders face?
Consumer direct lenders continue to face challenges when it comes to providing the same experience to borrowers and referral agents that they can offer the same, or better, level of customer service that home buyers come to expect from retail lenders.
The difficulty for loan officers that deal in consumer direct lending is that they deal with a much higher volume of prospective clients than a traditional retail lender and need specialized toolsets to respond within the aggressive follow-up protocols laid out by their organization’s leadership. Essentially, a powerful Mortgage CRM can create those nearly instant responses to borrower inquiries required in the consumer direct model. This can be accomplished through automated marketing tools built into the CRM across text, email, or web channels or even through integrations with inbound call center systems through open data APIs.
Luckily, as technology continues to improve, the gap that once existed is beginning to narrow.
The key for consumer direct lenders to continue their growth with new home buyers is to have open and clear lines of communication.
What technologies can improve the consumer direct process?
Communication is key to closing more loans. This is why consumer direct lenders choose Surefire CRM by Top of Mind Networks over other mortgage CRMs. Centralized marketing and content for messages direct from the lender to the consumer allow for a seamless stream of communication for any number of lending scenarios.
This, paired with lead distribution algorithms and open data interfaces to connect with inbound call systems offered by Surefire ensures that customer inquiries and new leads are given the same customer service experience they’d receive from a retail lender.
Permission access for referral partners also helps ensure that real estate agents can monitor the loan origination process and assist with keeping their buyer’s transaction on track to close.
Why is Surefire CRM the best system for consumer direct lenders?
As the leading mortgage marketing software provider, Surefire CRM keeps consumer direct lenders top of mind and allows creative freedom for customer marketing and engagement with award-winning creative content backed by industry-leading compliance. Surefire also helps lenders:
Close more loans through the implementation of customer recapture and retention campaigns
Provide multi-media brand integrations that engage and retain customers with customizable journeys
Increase the number of new prospects with marketing automation that lets mortgage professionals understand each customer’s needs
Ensure compliance by automating the administrative review of all marketing materials and campaigns
Strengthen referral partner relationships with co-branded communication
MORTGAGE MARKETING UNIVERSITY
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Individual
Individual loan officers can harness the power of Surefire to perform like a large enterprise while maintaining the personal touch their clients appreciate. Like an extra employee, Surefire CRM will gather leads, nurture them, help you close more loans and earn more repeat and referral business. Open and solidify referral relationships by truly standing out to real estate agents with professional property sites, co-marketing materials and more.
Larger organizations with multiple team members will benefit from the organizational structure of Surefire as you’ll be able to assign users to branches and centralize your marketing and communication from one system. Plus, you can easily deploy award-winning marketing messaging on behalf of your LO team members without them needing to lift a finger.
Larger enterprise organizations benefit from key integrations to their technology stack, including their LOS, POS, and more. This seamless integration gives them a leg up against the competition. The system structure also makes it easy to manage branding throughout the organizational hierarchy. Plus, improve hiring and retention by offering LOs easy-to-use tools that will want them to stay part of your winning team.
