On December 2, HousingWire hosted a webinar that featured our CEO, David Karandish, Sales Boomerang’s CEO, Alex Kutsishin, and Assurance Financial’s Chief Digital Officer, Katherine Campbell. The webinar highlighted the relationship between a mortgage lender and two technology vendors. By displaying how they work together to provide a positive borrower experience, attendees learned how integrations can create a seamless digital experience for borrowers and loan officers.
Mirroring paths of success: borrower and originator.
Over the past 24 months, Katherine has implemented 14 technologies to simplify the loan process for Assurance Financial’s borrowers and loan officers. Having a full tech stack helps lenders meet their goals, but Katherine made sure to mention that the benefits of having many technologies lie in the fact that they can talk to one another. Getting information from a loan officer, uploading documents to a POS system, sharing assets, and receiving loan updates is made easier with integrations.
“The simplified experience for borrowers and loan officers is the benefit of looking at technology that compliments each other,” added Alex. With the new year approaching, he advised lenders to find a strategy for next year that puts borrowers and loan officers first.
“Technologies like Capacity and Sales Boomerang are so important for next year because they remove the need to spend time on non-revenue generating activities,” added Katherine. Logging in and out of tools, manually sending documents, and searching for guidelines means that your team is spending less time on the revenue-generating activities.
With Sales Boomerang, Assurance Financial’s loan officers have borrower intelligence when it’s relevant, so they always know exactly when potential borrowers are ready for a loan. By integrating Sales Boomerang with CRMs, loan officers don’t have to waste time checking in on apps for updates.
With Abby, Assurance Financial’s work automation bot powered by Capacity, loan officers can instantly find information like what loans are closing today, what appointments are scheduled, the tasks that they assigned themselves, what leads there are to follow up on, and alerts that they’ve set. This is because Capacity integrates with all of the apps and data that the loan officers typically have to log in to find this information.
The benefits of pairing AI and borrower intelligence.
AI is software that gets better with time, and at Capacity, we have an 86% response rate across our mortgage clients. “This leads to borrowers that are more informed to make better mortgage decisions and loan officers that can access information on-demand,” said David. David referred back to Alex’s previous statement and re-iterated that everything lenders do to enhance the borrower experience enhances the loan officer experience and vice versa.
Alex added a new perspective to the conversation. “Implementing helpful technologies equips producers with a frictionless experience,” said Alex. He went on to explain that if loan officers don’t enjoy the current loan process that the lender has set up, it will reflect in the volume of loans they close and the borrowers’ experience. By bringing AI and borrower intelligence together, it enables the loan officers to do the work that they love to do, which is to speak to borrowers and guide them to make the best financial decisions. Assurance Financial is a great example of how this experience can be made possible for loan officers.
Katherine mentioned that implementing technologies doesn’t just bring on a digital version of the mortgage process, but it enhances and improves how the mortgage industry does business as a whole. By looking at other industries such as the traveling industry, you can see how the process of buying a plane ticket has changed. The same can happen for the mortgage process and loan origination by adopting technologies that integrate.
Make sure to watch the full webinar to hear all of the advice from these industry leaders.