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Mortgage Lending in the Modern Era

By Todd Jones, President, BBMC Mortgage

Todd Jones, President, BBMC Mortgage

The traditional model of mortgage lending in the 21st century is anything but predictable. With new technologies entering the fold each year, more vendors are fighting to stand alongside big lenders to help them shave a few seconds on their contact time.

As with athletes competing at the highest level of competition, closing the gap between contacting a prospective client before your competition can mean a multi-million-dollar difference for a mortgage company. Capturing leads is the first part of a sales funnel, and there are plenty of tools to help lenders of all shapes and sizes.

While the resources are abundant, the last ten years have become increasingly reliant on maintaining strict regulations for the finance industry. With that in mind, the choice between which provider to help boost your sales strategy can boil down to a technology’s flexibility in following state and federal regulations.  While at the same time not getting in the way of using technology to keep up with the largest lenders in the country. 

As clients move through the funnel in any company, the path from contact to closing should be crystal clear. At the end of the day, each lender is responsible for their own well-being in a highly competitive environment. Juggling longevity with profitability is a challenge. Throw in a philosophy centered on philanthropic values, and you’re only asking for greater challenges.

“BBMC’s Lead Management System attacks compliance without sacrificing lead quality”

BBMC Mortgage achieves all of those objectives with a steadfast determination. Using the latest tools to help our mortgage bankers beat the competition, remain compliant from beginning to end, and focus an incredible amount of resources to helping military families better than any lender in the country keeps the irons hot.

BBMC’s Lead Management System attacks compliance without sacrificing lead quality. By using a state of the art API Hub integration, the system cross-checks a form’s validity on several fronts including email, text, and phone. This prevents fraudulent leads from entering our system and allows our sales floor to maintain focus on legitimate clients with any intent to purchase or refinance.  Then by leveraging public data, each lead is appended with information that arms our sales floor with accurate information to help guide them more effectively through the sales process. 

The process has become increasingly efficient. While cross-checking validity is only part of the machine, we can simultaneously assign contact using machine learning technology and messaging strategies as bankers take actions.  Allowing the banker to concentrate on being the fiduciary while trusting technology to complete automated tasks. 

These tools support not just speed to contact but speed to conversion. Maximizing resource efficiency through modern software integration, combined with a personal feel from our mortgage bankers throughout the country, BBMC Mortgage is poised to help lead the mortgage industry in a new era of digital business practices. All of this fuels our primary objective of efficiently closing loans and leaving our clients feeling happy with their experience.

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