How lenders can turbocharge mortgage operations for today’s home buyers
For lenders, the past few months have been placed a strong emphasis on purchase originations. In light of this, HousingWire sat down with Saleforce’s Global Head for Mortgage and Lending, Geoff Green, to learn how lenders can better turbocharge mortgage for today’s home buyers.
HW: What are some challenges lenders are facing when it comes to streamlining loan applications, particularly in this heavy purchase environment?
Geoff Green: Streamlining loan applications should be getting easier as more and more mortgage technology enters the marketplace, but that is not always the case. Too often we see lenders with great technology solutions for one piece of the lending journey that don’t communicate or integrate easily with another part of the borrower or loan officer’s lending experience. In this heavy purchasing environment, and really in any lending environment, it’s incredibly important to provide one consistent experience for everyone involved in the transaction. Lead management needs to meet borrower experience, and borrower experience and loan officer experience should unify in one platform. Once that alignment is in place, ongoing marketing for the customer journey and contextual cross-sell/upsell can, and should, occur.
HW: Why should providing a seamless customer experience be a top priority for lenders, and how can they make that possible?
GG: There are so many choices in the market right now from depository to non-depository, broker to banker, in-person to digital. In order to stand out, customer experience needs to be at the center of everything we do. Across the board in all industries, customer experience is fading as we get busier and spend less time face to face, but it is critical to building trust. You can’t have borrowers losing confidence that you don’t know them or have them feel like they don’t know or trust you as they make one of the largest financial decisions of their lifetime.
HW: What is Encompass Connector and how does it create a better experience for both lenders and borrowers?
GG: ICE Mortgage Technology is the leading cloud-based loan origination platform provider for the US mortgage industry with solutions that enable lenders to originate more loans, lower origination costs, and reduce the time to close, all while ensuring the highest levels of compliance, quality and efficiency. Our partnership enables an end-to-end home lending experience. The Encompass Connector generates and syncs records in Salesforce or Encompass so there is a bi-directional sync of data. This allows LOs to create loans, receive real-time updates and check loan statuses without logging into Encompass.
HW: What sets Encompass Connector apart from other digital mortgage platforms?
GG: This Integration solution, the Encompass Connector for Salesforce, lessens risk and complexity for implementation of the digital platform. The pre-built connector gets companies to market faster with a managed package that ensures users will always be on the most current version of the solution so they don’t have to budget for upgrades or custom integrations. This connection creates a seamless engagement layer to share information, with all involved, transparently between applications with bi-directional sync eliminating the need to flip between salesforce and Encompass to answer simple questions. With the Financial Services Cloud industry data model, users can accelerate innovations leveraging automation, workflows, triggers, journeys and approvals. This might not be an easy button yet, but it’s certainly an easier button.
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