There is no question that the pandemic accelerated trends that were already emerging in mortgage banking and as a result, lenders have been super-focused on updating technology in an attempt to stay ahead of the curve. While much of the emphasis has been on streamlining the loan process, the human side of the transaction needs a major overhaul too.
Today, borrowers make instant judgments regarding a lender and their sales staff, taking into account:
- Do they answer my questions?
- Do they call me back in a timely manner?
- How do they make me feel?
The last question is key and what drives a trusting relationship with a lending partner.
The human side of financial services will never go away. While it’s true that loan processing time might go from a 30-day close to a 3-day close, how originators and sales support staff make referral sources and borrowers feel is still going to be critical for cultivating new business.
Delivering a seamless home loan transaction and an excellent customer experience is the ultimate goal for every lender.
Are your originators up to the task? What about your sales support staff? How good are their communication skills? To win in 2022, lenders will need all hands on deck!