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10 Secrets to Optimize Your Mortgage CRM

By Chris Bibey
10 Secrets to Optimize Your Mortgage CRM Feature Image
6 minute read

Mortgage CRM (customer relationship management) optimization — the phrase alone is more than enough to scare you. Maybe all you see is numbers, columns, rows, and of course, plenty of work. 

Using a mortgage CRM doesn’t have to be nearly as complicated as it appears on the surface.

Let’s start with a basic definition as shared by Whiteboard CRM:

Mortgage CRM software is designed specifically for the mortgage industry. Not only does it track contacts, it tracks the process of a mortgage application, the documentation involved, and the loan approval.

In other words, a mortgage CRM can keep you organized and on track. As a result, you save time, work more efficiently, and boost your chance of closing more loans.

How to Optimize Your Mortgage CRM

Now that you know the basics of a mortgage CRM, it’s time to answer the million-dollar question: what’s the best way to optimize your CRM for maximum performance?

The answer varies from one loan officer and broker to the next, but there are some secrets anyone can use to their advantage. 

1. Get Familiar with the Features

This is the first thing you should do. Until you have a sound understanding of what your mortgage CRM can do, you’re never in a position to take full advantage of its many capabilities.

Spend as much time as necessary using the features, troubleshooting any concerns, and understanding how the software can help you grow your business. This will pay off in the long run. 

2. Maintain Accurate Data and Records

Your mortgage CRM is available to help you organize all your data and records. However, what it can’t do is maintain the accuracy of this information. That falls on you.

Inputting inaccurate information — such as the wrong email address or follow-up time — will harm your chance of making a sale. 

Don’t forget, there’s nothing more important than accuracy when using a mortgage CRM. 

3. Don’t Fall Behind 

With so much on your plate, it’s easy to fall behind in updating your mortgage CRM. Just like entering inaccurate information, getting behind on data entry will bog you down.

Every time you take an action — such as calling a lead or providing more information — record exactly what you did. 

Don’t fall into the trap of assuming that you’ll have time to do this at a later date. You’re likely to forget, and even if you do remember you could input inaccurate information (see above). 

4. Consider Integrations

You don’t have to use a mortgage CRM as a standalone software program. Consider all the integrations that are available, as these can make your system more efficient and powerful.

The most common integrations include:

  • Loan origination system (LOS)
  • Video applications
  • Email marketing services

Tip: learn more about integrations before choosing a mortgage CRM. It’s much easier to harness the power of a CRM when it integrates with the other systems you want to use. 

5. Implement a Training Program

Just because you know how to use your mortgage CRM doesn’t mean that everyone else on your team is in the same shoes.

In addition to training current employees, this should be a big part of your onboarding process.

For example, you know that your loan officers will use a mortgage CRM, day after day. 

Rather than throw them into the system and hope for the best, train them on how to use it effectively. This reduces the number of mistakes, which saves both of you time. 

Tip: most mortgage CRM providers have a knowledge base with tutorials on every subject imaginable. Add this to your training program. 

6. Take Advantage of Advanced Features

Most mortgage CRMs have the same basic features. However, as you step up to more advanced features, you’ll come to realize just how powerful your software is.

For example, you may have access to one-to-one texting through your CRM. This gives you another way to connect with your leads. 

It’s the overlooked features that often give you a leg up on the competition. 

7. Conduct Regular Reviews

Again, this is one of those things that you probably don’t want to do, but it’s critical to the long-term success of your business. 

Get into the habit of reviewing your CRM data once a month or every other month. Do so with the objective of answering questions such as:

  • Is all your data accurate and up to date?
  • Do you know which leads are your hottest? Which ones are your coldest?
  • Are there any leads you can stop calling on in the meantime? Permanently?
  • Are there any features that you can begin to use in the near future?

Think of this as spring cleaning for your CRM. When you stay ahead of the game, it’s not nearly as time-consuming of a process. 

8. Make a Change

No matter how badly you want to stick with your current mortgage CRM, don’t continue down this path if you have reservations. It may be time to compare your current system to the rest of the market.

If you’re interested in making a change, answer questions such as:

  • What do you like most and least about your mortgage CRM?
  • What are the most important features to you?
  • How do other people in your company feel about your CRM software?
  • Do other CRMs have features that you want to try? 

By answering these questions, you’ll come to better understand your personal wants and needs. That will lead you to make an informed decision as to what you should do next. 

9. Keep it Clean

Over time, your CRM has the potential to become bogged down by useless, outdated, and/or inaccurate data. 

Get into the habit of “cleaning” your mortgage CRM every month or quarter.

As you do this, you’ll come to find what type of data is useful and what type you can skip over in the future. In other words, this habit will train you to maintain more accurate records.

10. Ask Questions

Even the most experienced users will face questions from time to time. Don’t be shy about asking questions. Your supervisor, co-workers, and CRM provider can all address your questions and provide you with the guidance you’re seeking. 

For example, common questions include:

  • How do I use [feature]?
  • How come [problem] keeps happening?
  • Is there an easier way to [task[?

You get the point. You’re sure to have questions as you use a mortgage CRM. Address them immediately. 

Are you looking to add more leads to your CRM? 

If so, you’re in the right place. At Aged Lead Store, you can purchase mortgage refinance leads and new home purchase leads. 

With our help, you’ll never again face the problem of an empty sales pipeline. 

Photo by Breno Assis on Unsplash

About Chris Bibey

Chris Bibey is a freelance writer with 15+ years of experience in the insurance and finance industries. Clients include Sales Hacker, Outreach, Discover, PayChex, and Moran Insurance. He has also worked as Head of Sales for Verma Media.

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