Finding software can be overwhelming. Software Advice has helped hundreds of lenders choose the right mortgage CRM software to better manage customers and maximize their value.
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Zendesk Sell (formerly Base) is the web and mobile-based customer relationship management application that allows B2B and B2C sales professionals to manage sales, track leads and engage proactively with customers from anywhere. The... Read more
Platforms: MacWinLinux
Deployments: Cloud
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NetSuite CRM+ is a cloud-based customer relationship management (CRM) solution for small and midsize organizations. NetSuite caters to thousands of customers across a wide range of industries including wholesale distribution, manufacturing,... Read more
Platforms: MacWinLinux
Deployments: Cloud
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FreeAgent CRM delivers a next-gen work experience on a customizable cloud-based platform help teams unlock productivity and grow sales effortlessly. Stay in the zone, with AI-guided selling. See only what you need when you need... Read more
Platforms: MacWinLinux
Deployments: Cloud
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The Salesforce Sales Cloud is an on-demand CRM platform offering applications for small, midsize, and enterprise organizations, with a focus on sales and customer relationships. This Salesforce platform has CRM capabilities that include... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Zoho CRM is a cloud-based business management platform that caters to businesses of all sizes. It offers sales and marketing automation tools with helpdesk, analytics and customer support functions. Zoho CRM helps users respond to... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Thryv is an all-in-one business management solution designed to help small businesses with essential business functions. With Thryv, business owners can expand their online presence, improve any customer relationship, and streamline... Read more
Platforms: MacWinLinux
Deployments: Cloud
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LeadMaster is a SaaS-based all-in-one lead management solution that offers capabilities to capture, track and follow up with leads. The solution comprises of integrated modules for sales force automation, customer relationship management,... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Shape's cloud-based solution offers tools designed to manage online marketing and promotions, capture leads from online sources, organize sales pipelines, connect with customers and automate everyday tasks. Shape is suitable for businesses... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Creatio (formerly bpm’online) is a unique synergy of unified CRM and intelligent BPM platform for marketing, sales and service automation. The solution allows midsize and large companies to manage the customer lifecycle from lead... Read more
Platforms: MacWinLinux
Deployments: CloudOn premise
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Grow your mortgage business, free up time, automate your marketing and put together a digital mortgage experience for your borrowers, all from one central hub. With BNTouch Mortgage CRM you can build a website, utilize a digital 1003,... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Whiteboard Mortgage CRM is a cloud-based solution that enables loan originators to connect with customers, communicate with partners and plan campaigns. It is primarily designed to help loan officers manage content, prioritize tasks... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Service Cloud from Salesforce is a cloud-based customer service management solution that is designed to initiate customer service activities from anywhere. Built on the Salesforce1 Platform, Service Cloud works to centralize and optimize... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Zendesk is a leading customer relationship management tool that ensures your mortgage agency stays on top of its interactions, contacts and productivity. This cloud-based system also offers custom reporting and analytics. Read more
Platforms: MacWinLinux
Deployments: Cloud
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TeamSupport is a business-to-business (B2B) support software solution designed to help companies resolve individual tickets while building stronger customer relationships. The solution goes beyond ticket management to streamline customer... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Quick Base is an application development platform that enables people to build business applications without coding. The platform is cloud-based and accessible on any browser or mobile device. Users can build apps on Quick Base by... Read more
Platforms: MacWinLinux
Deployments: Cloud
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InvGate Service Desk is an IT service management platform that offers help desk request fulfillment, customer service and support and self-service knowledge management. The system is compatible with Mac, Windows, and iPad (or other... Read more
Platforms: MacWinLinux
Deployments: CloudOn premise
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PhaseWare Tracker is a customer support and help desk solution. It automatically notifies users whenever clients report or escalate existing issues. Flexible deployment options include on-premise installation and a cloud-based option. Applications... Read more
Platforms: MacWinLinux
Deployments: CloudOn premise
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SolarWinds Service Desk is suitable for companies seeking a help desk solution that offers IT service management (ITSM) functionalities. SolarWinds Service Desk offers comprehensive service desk functionality that helps businesses... Read more
Platforms: MacWinLinux
Deployments: Cloud
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Five9 is an all-in-one cloud contact center solution for inbound, outbound, blended and omnichannel contact centers world-wide. Powered by Practical AI, Five9 enables agents to provide customer experiences across phone, email, chat,... Read more
Platforms: MacWinLinux
Deployments: CloudOn premise
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NICE inContact Hosted Call Center
NICE inContact is a SaaS-based call center software that helps businesses to maximizes the quality of leads and minimizes the cost of client interaction. The solution comprises of many features required to process inbound support requests... Read more
Platforms: MacWinLinux
Deployments: Cloud
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As most people know, CRM software is used for customer relationship management. That sounds simple enough ... and it even has an easy acronym to remember it by! It sounds simple right up until you ask the question—the question all buyers of CRM software really should ask—What kind of customers?
That’s a very important question. Not all customers are the same. Of course they vary from individual to individual, but that’s less important than the fact customers in different industries need and expect different relationships with the businesses they patronize. Purchasing CRM software that’s tailored to one specific industry will not work very well, unless you’re in that specific industry.
Similarly, if you’re in an industry that has unique relationships with customers, or requires lots of specialized outreach or management processes, then a generic CRM platform wouldn’t be the best choice. In this Buyer’s Guide, we look at CRM software designed very specifically for the mortgage industry.
Here's what we'll cover:
What Is Mortgage CRM Software?
Common Features of Mortgage CRM Software
Evaluating Mortgage CRM Software
Mortgage CRM Software In the News
What Is Mortgage CRM Software?
Mortgage customer relationship management (CRM) software is designed to help mortgage professionals run their front-end operations. And given all the ups and downs the mortgage industry has faced over the past ten years, it’s an industry that can use all the help it can get. The subprime mortgage crisis is anything but a distant memory. Delinquencies and foreclosures are still common occurrences, and mortgage lenders have realized the importance of focusing on the customer acquisition and management lifecycle as a means of recovery.
In particular, lenders and loan officers must overcome the hurdles of keeping detailed client notes and maintaining timely client follow-up. They require proper contact management coupled with loan pipeline management in order to stay in control of their business. On top of client retention, mortgage lenders also need to grow and expand their operation in a highly competitive market.
Customer management screen in TeamSupport
Common Features of Mortgage CRM Software
Mortgage CRM software often includes applications for contact management, so that lenders can organize client data into one, easily accessible location. However, if the tool is specific to the mortgage industry, it will also include additional key features:
| Loan pipeline Management | Mortgage CRM software should tie in with existing loan-originating software (LOS) systems to improve loan pipeline management. This integration allows lenders to view loan reports on-demand, track loans as they go through the LOS and synchronize important data such as loan status values and 1003 application data. With a few clicks, the lender can access contact information, loan information, email and phone call history. |
| Referral partner marketing | In a highly competitive market, mortgage companies can benefit greatly from a program that facilitates drip marketing campaigns and campaign tracking to send targeted messages to clients and referral partners. Tracking these campaigns helps lenders know how to cultivate and reward client and partner loyalty. |
| Mortgage event alerts | There should also be tools for notes and alerts that remind the lender of important upcoming events, such as which clients want to refinance several weeks or months in the future. Some systems also have a news update application that provides the most up-to-date information, such as increased annual premiums or changes in upfront mortgage insurance rates (UFMIP). |
| Regulation compliance | With the current instability in the market, it is even more important for lenders to stay abreast of new regulations and compliance issues in their industry. Integrated compliance modules are available in some products to help ensure that business operations are in line with regulations enforced by organizations such as the Federal Housing Administration (FHA). |
Evaluating Mortgage CRM Software
Mortgage CRM software can automate many of the day-to-day marketing and loan processing, facilitating marketing efforts and increasing accuracy and customer service. When selecting mortgage CRM software, ask the following questions:
- Do you plan to host the software locally on your own servers or are you looking for a cloud-deployed solution?
- Does the software integrate seamlessly with your existing LOS system for end-to-end loan visibility?
- Does the software integrate with other existing legacy systems such as ERP or accounting?
- Does your organization require a Web-based customer portal so customers can access loan applications and information online?
- Does your organization require capabilities for multi-channel marketing (i.e., email, phone, direct etc.)?
- Will you be producing and sending a lot of content and documents to send to customers?
Mortgage CRM Software In the News
Lenders make strides in personalizing borrower relationships. June, 2016. A report in Credit Union Times describes how many mortgage lenders are investing in tools to help them offer more personalized service to their customers. It suggests that consumers are expecting this personalized service and are less responsive to more outdated methods of non-personalized marketing, like generic mass emails.
Email marketing not dead in mortgage industry. July, 2016. NationalMortgageProfessional.com Writer Brent Emler makes the case for a renewed look at the efficacy of email marketing in the mortgage lending industry. Far from dead, Emler says, “E-mail marketing is evolving from the carnival barker pitching a new act to an engaging personalized conversation built on collaboration and timely delivery of appropriate opportunities to help consumers become happily involved with products and services.”
Mason-McDuffie Mortgage Corp. focuses on borrower experience. July 2016. “Borrowers can get lost in the huge amount of paperwork involved in the loan process,” writes Jason Frazier, chief information officer at Mason-McDuffie, in the latest issue of HousingWire magazine. With the company’s newly developed software solution, they’ll reduce paperwork redundancies, shorten wait times for customers and add several other customer experience improvement measures.