Basics of Mortgage CRM for Brokers and Lenders

Customer resource management has seen wide scale adoption in effectively all industries thanks to its ability to enhance the sales process while saving organizations time and money. Mortgage CRMs have become increasingly popular with both lenders and mortgage brokers looking for ways to compete better and stand out from the crowd. They’re particularly valuable in a highly competitive industry like lending, where differentiation can be difficult. So, what exactly is a mortgage CRM, what functions do they serve, and why are they so valuable for brokers and lenders alike?


What is a Customer Resource Management System?

Customer resource management systems, or CRMs for short, are software platforms that centralize customer information and allow sales organizations, like mortgage brokers and lenders, to build all of their customer-facing operations around data. Letting customer data drive processes offers improvements in everything from lead management to relationship building to marketing and beyond, making CRMs mission-critical software for sales organizations. 

Mortgage CRMs are designed to tackle the problems lenders and brokers face every day. They perform all the same tasks as generic CRMs, but also often offer the ability to connect with industry-specific tools like loan origination software to create a more streamlined process from lead capture through to funding. 

Good mortgage CRMs also provide a variety of productivity and administration tools to help everyone in an organization perform their tasks smarter and more efficiently, extending benefits well beyond the sales team. 


How a Mortgage CRM Helps Lenders and Brokers

Mortgage CRMs offer three major benefits to lenders and brokers:

  • They help improve the lead management process so fewer good leads slip through the cracks and more turn into closed deals. 
  • They make it easier to build and maintain great relationships to foster repeat business and referrals. 
  • They streamline daily tasks to allow users to reclaim wasted time and do more with their workdays. 

While there are other benefits depending on the toolset included with any given mortgage CRM, those three areas represent the primary ways in which effectively all sales organizations can benefit from CRM adoption., 

Turn More Leads Into Closed Deals

Mortgages are a necessity for effectively all real estate buyers, so it isn’t a question of if people will need them, but of where they’ll go to get them. Lenders and brokers looking to capture as many of those buyers as possible need to do two things at a minimum: keep a constant supply of quality leads entering the top of the funnel and nurture those leads better than their competitors. 

A mortgage CRM enables both through a series of lead management tools that automate and streamline both collection and management. Mortgage CRMs like CRMDialer enable leads to be collected into the system automatically from a variety of sources, including web forms, email, printed QR codes, inbound phone calls, and more. Automating organic lead collection keeps the top of the funnel full and minimizes the steep costs associated with paid lead generation. 

Once leads are in the system, a mortgage CRM enables lenders and brokers to easily maintain constant situational awareness over where each lead is in the sales process, what their needs are, and the details of each contact they have. The overall result is more leads entering the system, fewer qualified leads slipping through the cracks, and a more personalized recruitment process for each prospect – a big factor in out-competing other mortgage companies. 

Maintain Long-Term Customer Relationships with Ease

When a mortgage goes through and a real estate transaction closes, the job isn’t done. When it comes to mortgages, there is no more valuable source of business than existing customers. Not only do renewals, refinancing, and new purchases bring in new revenue, but referrals from existing customers are also the most effective marketing in the industry. 

Unlocking those follow-up business opportunities requires brokers and lenders to establish strong relationships with customers rather than treating mortgage sales as transactional. Mortgage CRMs make that relationship-building easy by automating and streamlining continued contact with prior customers. 

Top mortgage CRMs allow for follow-up communications to be pre-scheduled, making constant contact frictionless. Customized form emails can be scheduled to go out automatically, and the CRM can be set to prompt users to reach out in person whenever a certain amount of time passes without contact. The CRM can also automatically move customer profiles into new categories whenever follow-up is coming due or overdue, allowing agents to deal with entire sets of clients at once. By automating most of the process, a mortgage CRM removes the burden of remembering to follow up, maximizing the chances of repeat business and glowing referrals. 

Organization-Wide Productivity Benefits

Mortgage CRMs also provide a variety of benefits that extend outside the sales process. The productivity tools included in top mortgage CRMs like CRMDialer help every employee work smarter and get more done in less time, from the front desk to the CEO and everyone in between. Centralizing everything from email communications to scheduling to document storage and beyond enables employees to handle all of their daily tasks from a single point of control. That eliminates the need to learn and juggle multiple platforms, which streamlines workflows and saves an enormous amount of time. 


To find out more about everything a mortgage CRM can do for your organization, reach out to a member of the CRMDialer team, or start your no-commitment 14-day free trial today.