How Loan Officers Use Floify to Improve Referral Relationships

As you probably know, a loan originator’s success depends on their ability to acquire or generate high-quality mortgage leads. There are a number of ways to accomplish this goal, from turning your website into a lead-gen machine to leveraging advertising platforms like Zillow and Trulia.

However, to truly push for the upper levels of success in the mortgage industry and drive consistently high annual loan volume, the current system demands that you receive a steady dose of quality referrals from business partners – namely real estate agents.

So you spend countless hours during your career pursuing and winning relationships with referring agents.

And so does your competition.

This is why it’s vital to plan how you will work with your referral partners in order to combat attrition.

After all, when it comes down to it, they don’t get paid for their work until you’ve done yours.

We’ve researched feedback and forums across the internet and spoken with numerous customers. They all say the same thing! Referring agents want three things in a partnership: great service for their client, transparency and communication throughout the process, and loans closing on time.

Here’s how loan originators are using Floify to provide for these partner needs and differentiate themselves from their competition.

Great Service and Experience

Providing great service for your referral partner’s clients will undoubtedly fall on your shoulders and/or your team’s.

However, using Floify as an easy-to-use POS portal for borrowers allows you to provide an unmatched digital borrowing experience. It also reduces borrower anxiety with many automated touches – all requiring minimal intervention on your part.

Combining the POS experience with your expertise creates a much more pleasant journey for your homebuyers.

Transparency and Communication

Offering a transparent process and communicating with referral partners exactly what is going on with their client’s loan is VITAL to earning lasting trust.

Top-producing loan officers will tell you that while they push for loans to close on-time, occasionally problems arise that are unavoidable and throw a wrench into the best-laid plans. The secret, according to them, is to honestly communicate the issues so that they don’t turn into a last-minute surprise.

It’s better to underpromise and overdeliver in the end than to assume you will rescue the loan in time.

Loan officers are able to accomplish this heightened level of transparency and communication with little effort by using Floify. In fact, this is one of the system’s core values.

Loan status and milestone updates are configured through customizable templates within the platform. With a couple of clicks, you can send milestone notifications via email and/or SMS to both borrowers AND partners. This approach answers questions before someone asks, giving partners the confidence that a loan is getting specific attention.

In addition to automated communications, Floify’s Partner Portal provides another layer of transparency into each loan you’re handling for that partner.

With one simple login, your partners can get a snapshot of what milestone a loan is at, and the status of the all-important document gathering process. They will have this transparency into any loans you’ve invited them to participate in.

Closing Loans on Time

Speaking of closing loans on time, there are multiple ways Floify can streamline the lending process. Floify even helps you get ahead of schedule. The biggest efficiency gain comes from the powerful document management and collection workflow.

Using a series of automated notifications and reminders combined with visual cues within Floify’s borrower portal, your clients will have a better understanding of what is required of them. More importantly, they will also be held accountable for what they owe.

Fewer days gathering documentation means a quicker submission to an underwriter. You get more breathing room to tackle any conditions that might come up.

If you want an even bigger productivity boost, Floify’s Day 1 Certainty-approved integrations with vendors like AccountChek, Equifax, and The Work Number, as well as integrations with several credit reporting agencies like CreditPlus, Sarma, and Alliance 2020 allow for quick direct-source documentation pulls.

Bonus: Competitive Differentiation

In addition to all of the benefits listed above, Floify’s Partner Portal also contains another feature that differentiates our customers from their competition: a self-service pre-approval letter generator.

This generator is simple for your agent partners to use. They’ll love being able to print off PA letters with no hassle. They can even tailor these letters to the property that they are taking your client to see.

You can do all of this on your branded letterhead. Even further, you’re able to govern this by limits you’ve set within the borrower’s loan flow. Overall, your agents cannot generate a letter that makes a borrower appear more qualified. However, they can generate letters that don’t give sellers the impression that there’s more money to make.

With Floify’s system, you can rest easy on weekends and not have to carry your laptop wherever you go.