How to Build Trust with Borrowers When Closing Digital Mortgages

Digital mortgages. Digital closings. Digital...everything. That’s becoming more and more of the norm these days as consumers, businesses and, well, everyone looks for more convenience in their lives. However, as technology takes over, it’s also becoming more and more difficult to build trust with clients. If you originate loans, you’re working with clients who are choosing to trust you with one of the biggest purchases in their life. That's why it's important to prove that you can navigate the process successfully. That means guiding buyers through complex regulations, finding the loan for their situation, and providing answers to every question as you work to close the loan. That not only helps showcase you're the right person to help them, but their friends and family as well. Check out our top tips below for building trust with borrowers during the digital mortgage process. 

Put Yourself in the Borrower’s Position

“Be the ball.” That’s a line of advice used in a famous movie about hitting a golf ball well. It’s the same for origination: be the borrower — or, in other words, put yourself in their shoes. Think about what your clients imagine when they read or hear about digital mortgages. Consider how they'll feel uploading their personal and financial documents online. What about their stress levels balancing the process? When you can empathize with your clients and understand what’s going on in their mind, you’ll be better prepared to handle whatever questions or concerns they may have.

Communicate Through Closing

Today’s digital mortgage solutions attempt to simplify everything, but some documentation doesn’t fit into the available systems. Furthermore, some clients might actually prefer to submit documentation in person rather than trust a computer system. For closings especially, clients cannot always complete  everything online. They may have to sign some documents by hand or do a drive-thru closing at the title company. The best thing you can do is communicate with your client and let them know what’s possible. The key to building and maintaining trust with your clients and prospects is to keep them in the loop. When communicating with your clients, it's critical to keep them up to date on how the digital or hybrid closing process will move forward:

• Tell them which documents need to be signed in person

• Tell them that you understand the process can be complex, and if they have any questions, they should contact you.

• Reassure them that you are on top of all the details, so they don’t have to worry.

Once you have explained how the process will work for your clients, you just have to maintain the trust you have built with excellent customer service and great results. Sounds easy, right?  

Put All the Data You Need at Your Fingertips

If tracking, communicating, and building trust with borrowers is the goal, check out the wemlo℠ Loan Brokering System℠ (LBS℠). This revolutionary system was designed specifically for mortgage loan brokers. It’s an enterprise-level platform that offers a secure and transparent borrower portal, streamlined drag and drop document uploading, real-time loan tracking, seamless communication with borrowers, and so much more. This LBS was built with everything you need and nothing you don’t, meaning you won’t get bogged down with unnecessary steps. If you liked what you read here and want to get more of this delivered to your inbox every week sign up for the wemlo weekly newsletter full of tips, tricks, and news all about the mortgage industry.