4 Ways Loan Officers Can Build Borrower Trust

loan officer building borrower trust

Loan officers should be seen as trusted advisors who borrowers can rely on to guide them through the process. The relationship should feel like more than just a transaction; after all, buying a house is not only one of the largest purchases someone will make in their life, it’s also one of the most emotional decisions. Here are four quick tips to build trust with your borrowers.

1. Be active on social media

Social media marketing can be a major differentiator, not to mention one that’s tied with significant results. One study shows that 78% of mortgage loan officers with an active social media presence outperform their peers.

It makes sense; most borrowers will perform an internet search as a way of confirming a loan officer’s reputation. Being active on social media legitimizes your expertise and cements your reputation as a go-to resource for others. Social media can also help you establish yourself in a certain area of specialization, such as a specific geographic area or a type of mortgage.

2. Use accurate insurance estimates early in the process

Accuracy is another core value that customers expect. Using Matic at the beginning of the loan estimate process lets your borrower account for insurance quotes in real-time. For borrowers with a tight debt-to-income ratio, lower insurance rates can help them qualify for a higher mortgage amount, which increases pull-through rates.

Providing insurance as part of the loan estimate and controlling home insurance from the beginning helps you add value as a loan officer and show that “we’re here for you.”

“Not only has Matic been able to offer competitive rates, they understand the urgency of our business. We have had to change closing dates on a couple of files and we received an updated policy within an hour of requesting.” -Loan Officer

3. Create a segmented drip email marketing campaign

Building a lasting relationship with your borrowers doesn’t end on closing day. As a loan officer, you should have an automated email marketing campaign that’s segmented based on each stage of the customer’s journey. It may start with house hunting after receiving a pre-approval, then move onto the application process and closing.

Even after closing, continue with a customized email campaign to set yourself up for repeat business when it comes time for borrowers to refinance as well as provide lender recommendations to family and friends. You can also send a celebratory message for home anniversaries.

4. Deliver value-based resources

Customers prefer to have an existing relationship when choosing a lender. It’s crucial to develop new touch points that drive engagement and build loyalty. Take a holistic approach to the relationship by providing educational content that offers value using other products. Not only does this set you up as a trusted resource, it also builds trust that you view your customers as more than an application number.

How do you deliver value-based content in a way that feels authentic? Start by identifying areas of a borrower’s life that are relevant to the home buying process, then introduce value from other products. For instance, you might send them tips on building and maintaining their credit score, particularly leading up to the loan closing. Also maximize your borrower portal features, including real-time application status and in-app messaging.

This is a preview of our report “4 Ways to Sharpen Your Competitive Edge in the Lending Process.” Click here to download the full guide.

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