There has been a strong focus on purchases among lenders in recent months. With that in mind, HousingWire sat down with Saleforce Global Head for Mortgage and Lending, Geoff Green, to learn how lenders can improve mortgages for today’s homebuyers.
HW: What challenges do lenders face when it comes to optimizing loan applications, especially in this difficult buying environment?
Geoff Green: Optimizing loan applications should get easier as more mortgage technologies hit the market, but that’s not always the case. Too often we see lenders with great technology solutions for one part of the lending business that doesn’t easily fit into another part of the borrower’s or loan officer’s lending experience. In this difficult shopping environment, and really in every credit environment, it is incredibly important to offer a consistent experience for everyone involved in the transaction. The lead management must meet the borrower’s experience, and the borrower’s and loan officer experience should be combined on one platform. As soon as this alignment has taken place, continuous marketing for the customer journey and contextual cross-selling / up-selling can and should take place.
HW: Why should providing a seamless customer experience be a top priority for lenders and how can they make it happen?
GG: There are so many options on the market right now, from custodian to non-custodian, from broker to banker, from personal to digital. In order to stand out from the crowd, the customer experience must be at the center of everything we do. In all industries, the customer experience is dwindling as we get busier and spend less face-to-face time, but it’s critical to building trust. You can’t let borrowers lose confidence that you don’t know them, or feel like they don’t know you, or don’t trust you as they make one of the biggest financial decisions of their lives.
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 provider of cloud-based lending platforms for the US mortgage industry with solutions that enable lenders to extend more loans, reduce lending costs and reduce completion time, while delivering the highest levels of compliance, quality and efficiency. Our partnership enables an end-to-end home loan experience. The Encompass Connector generates and synchronizes data records in Salesforce or Encompass, so that the data is synchronized in both directions. This allows LOs to create loans, receive real-time updates and check loan status without logging into Encompass.
HW: What is the difference between Encompass Connector and other digital mortgage platforms?
GG: This integration solution, the Encompass Connector for Salesforce, reduces the risk and complexity when implementing the digital platform. The pre-built connector gets companies to market faster with a managed package that ensures users are always using the most current version of the solution, so they don’t have to budget for upgrades or custom integrations. This connection creates a seamless level of interaction to transparently exchange information with all parties involved between applications with bidirectional synchronization, so that there is no need to switch between Salesforce and Encompass to answer simple questions. With the industry data model of the Financial Services Cloud, users can accelerate innovation by leveraging automation, workflows, triggers, journeys, and approvals. This may not be a simple button yet, but it certainly is a simpler button.