*Seize Every Opportunity*
**By Judy Margrett**
***What we’re going to talk about today is how you can turn your data into a real business opportunity. If you think about it, every mortgage company in the market holds databases of data on it’s loan products, existing borrowers, prospects, etc.
****No mortgage lender that I know is lacking in terms of having access to all this information. The challenge is how do you leverage that static data and turn it into active intelligence.
****What do I mean by active intelligence? You need to use the information that you have literally at your fingertips to create new business opportunities. What lenders are finding is that in this market, with all the new rules, the new LO compensation regs and fewer loan products to offer, they are having to respond quicker then ever before. In fact, the market is so fluid that they have to look at technology to bring this static data to life.
****Here’s how you do that:
****It’s about integrating all the aspects of your marketing like referrals, Realtor contacts, past campaigns, etc. with a rules-based tool. You want to create a business opportunity engine. You want to make that data meaningful to your bottom line.
****If you have that automation in place and it’s looking at this data, you can achieve instant results. For example, should you be offering fixed rates? Should you be doing refinances? What works in that geographic area? You now are using all this data to take action to get instant results.
****On top of that, if you can offer one-click marketing to the borrower so they can take advantage of your offering, that’s very powerful. And this is not hard to do.
****Automation combining rules and marketing allows companies to analyze and track all this data to produce real opportunity. Why should you look seriously at this technology? You can maximize value. You can stimulate two-way dialogue. You can build loyalty and enhance your reputation with consistent and compliant messaging.
****As lenders look for ways to be more competitive, tools like this enable the lender to boost productivity and profitability. Who doesn’t want to do that in any market, let alone a declining market like the one we find ourselves in today? In addition, you also enhance compliance and control by automating this part of your business. Let’s not forget the power of relationships. You can grow borrower relationships and cross sell opportunities through the implementation of this strategy.
****All this enables lenders to seize current market opportunities. So, get started.