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How Support Automation Helps Mortgage Teams Run Lean

by | Feb 23, 2022

The mortgage industry has been turned upside down by the challenges we’ve all faced over the past few years. Many companies have been forced to initiate layoffs and the remaining team members are picking up more slack. This means that it can be extremely hard for teams to keep up with their workloads. With fewer employees, these companies can be left with an even tougher load to handle.

Many companies have tried hiring more people, but it’s extremely difficult to find top-quality talent when the mortgage industry slows down. Companies are also hesitant to bring in new employees because they don’t know if they can afford to keep them long term.

The best way for mortgage companies to handle these challenges is with support automation platforms like Capacity. Support automation can help teams get more work done, even when they are operating with fewer team members than usual.

How does Capacity assist businesses in the mortgage industry?

Here’s how Capacity can help mortgage businesses operate effectively, even with a lean team.

Automated onboarding resource for new team members

When loan officers start a new job, there are always several questions to ask. How do I log into Salesforce? What’s the best way to get leads? Where can I find my CRM login information?

It typically takes months to train a new hire on a mortgage company’s unique selling proposition and sales process.

Capacity helps speed up this process. The platform offers an automated onboarding support resource for newly hired sales reps. They can learn how the company works without having to rely on existing team members who are already busy with their own work.

Support automation can help new team members get brought up to speed quickly by guiding them through their first day at work. For example, it can help them set up their computers, find out how they can get started generating leads, and make those all-important first connections with customers.

Pre-filled knowledge packs from mortgage lenders around the country

There’s so much information to know when organizing a loan, but thankfully we have a solution.

Capacity created pre-populated knowledge packs of the top 100 questions asked by mortgage companies across the country. Plus, Capacity’s knowledge packs are automatically updated as soon as any changes occur so that mortgage companies are never out of the loop.

24/7 automated support for borrowers

Borrowers are looking for mortgage companies that offer 24/7 support.

Many mortgage companies have a customer service team on call during the day, but what about nights and weekends, or when a business is short-staffed? With Capacity, mortgage companies can provide around-the-clock support to borrowers while also freeing up human resources to focus on more important tasks.

Capacity’s automated chatbot responds instantly with quick answers or links to useful information whenever a borrower requires assistance. Capacity helps lenders save money by reducing the amount of time that human agents spend answering repetitive questions.

Improve employee experience

Most mortgage company employees are bogged down with menial tasks that could easily be automated, leaving them more time to focus on revenue-producing work. When employees are overworked, it affects their productivity and satisfaction levels, leaving the company vulnerable to high turnover and burnout.

Capacity improves the employee experience. It also helps mortgage companies maximize the time their employees spend on challenging tasks. Support automation takes care of pesky, time-consuming tasks like extracting information from files and documents and formatting it for use by other departments.

Efficient and accurate data reporting

Mortgage companies must provide their loan officers and customer service agents with the information they need to take care of business. It’s important for them to frequently report on KPIs like call volume, no-show rate, compliance rates, and more to make informed decisions about the business.

Capacity makes it easier for mortgage companies to compile and analyze data, which helps them see their true ROI and plan accordingly to improve the customer experience and increase revenue.

Robotic processing automation (RPA) to boost productivity

Mortgage companies are drowning under a mountain of paperwork. Most of their time is spent on manual data entry, which leads to tons of mistakes and a lot of lost money.

Most loan officers spend more than half the day doing administrative tasks that don’t make any difference to the bottom line.

Capacity’s RPA capability allows mortgage brokerages to automate repetitive tasks like data entry and loan document management so they can focus on more important things like closing loans faster and finding new clients.

Request a demo of Capacity.

Smart mortgage companies are using Capacity to work lean now so that they can plant the seeds for future growth.

To learn more about how Capacity can help your team, request a demo.