How To Build a Sustainable Mortgage Pipeline

Need to build a sustainable pipeline? Promote to mortgage Prospects who need help getting "mortgage ready". Then, direct them to the right help and keep in touch.

1) Find a customer relationship management (CRM) that works with your mortgage loan operating system (LOS) to help you keep track of “not yet mortgage ready” Prospects.

There are CRMs that connect to most loan originator LOS systems. Most are set up beautifully to stay in contact with past purchasers, but many CRMs lack the same ease of the process to follow-up with Prospects who are delayed on the front end from purchasing as they “get mortgage ready”. Cultivating Prospects who are working towards a purchase and keeping in touch with them and their HUD counselor until the client is ready to purchase a home can lead to a new avenue of business for loan originators.

✓ How a good CRM can help. CRM's can be set up to track where and who you refer prospective clients to that need help with credit, down payment assistance and more. Finding a CRM that allows the best interaction with your LOS to stay in touch and track the Prospect client's progress is key.

✓ If your LOS does not have a good follow-up CRM style system for Prospects, try customizing your own. This can be done in the Calyx LOS by customizing a Template and Report.

Find HUD Housing Counseling Agencies (HCA). Refer Prospects for help needed.

When loan originators try to keep clients on a mortgage track themselves, attention to detail usually wanes when business picks up.

✓ What HCA services can provide. Look for HUD agencies that can help with specific needs that your prospective client has. HUD approved credit counselors can work with clients who need credit issues handled, credit built, and get payment arrangement made for student loans. Most HUD Housing Counseling Agencies (HCA) also provide help with down payment assistance (DPA) for city and county programs. HCA's can also assist clients with before and after home purchase services like rental help and post-home purchase help like Foreclosure Prevention and loan modifications.

HCA services are sometimes free but are most often provided on a sliding scale income basis.

✓ How mortgage loan originators can utilize HCA services. Check out which HCAs are in your area and what services they provide. Some HCAs provide services over a wider area and do so remotely. Create a relationship and know how to refer clients. HUD housing and credit counselors can follow clients until issues are resolved. Stay in touch with the HCA counselor on the progress of your client as they become "mortgage ready". This is where the CRM is beneficial. And if your client is getting DPA, the HUD housing counseling agency can often provide the education and certificate needed.

Pam Marron, NMLS# 246438
Innovative Mortgage Services, Inc. NMLS# 250769
Equal Housing Lender