How Home Mortgage Lenders Use Text Messaging

According to a study conducted in 2018, lenders have not yet embraced the use of technology even if there is an increase of voice calling API request to do so from borrowers. The study results showed that about 88% of the borrowers are in favor of the lender sending an SMS to them. Here are some ways how home mortgage lenders can use text messaging or SMS:

Continuous Contact with a Possible Client

Continue to engage with a possible client through the use of text messaging, especially if a potential client opted to use text messages as their primary means of communication. Sending follow-through texts is definitely a great way to keep the ball rolling. Here is a sample format that you may want to follow:

“Hello (Client’s first name)! This is (Your name) from (Company Name). Thank you for showing interest in our product/service. You may give us a call anytime to set an appointment to start with the process, or you may also proceed to do an online application through (website link). We are happy to assist you in any way we can. Thank you!”

Contact a Referral

Contacting referrals are easier through text messaging. You may opt to use a texting software and connect it to your CRM, so you can monitor any response/feedback both from existing and potential clients. Below is a sample format that you may want to try using:

“Hello (Referral’s first name)! (Agent’s name) requested us to assist you to get pre-approval to be able to purchase a house. When is the best time to talk? To help us assist you better, you may submit your information online through (website link). To know us better, you may see testimonials and reviews at (website link). Thank you!”

Thanking a Client for Filing an Application

Looking for a new home and processing how to get it paid is quite stressful for borrowers. With this, even a simple thank you message from lenders is much appreciated. Please see below for a sample format on thanking a client:

“Hi (Client’s first name)! Thank you so much for choosing us to help you in purchasing your new home. Please keep your lines open and also monitor your emails for important inquiries and updates.”

Requesting for Additional Requirements

Pre-approval applications are often tedious with its tremendous number of documents required. Using text messaging to contact a client for an additional requirement is a smart way to keep the process going because your message will not just sleep in the email inbox or you do not need to spend hours trying to phone the client. Here is a sample message to inform the client that an additional document is needed:

“Hello (Client’s first name)! This is (Your name) from (Company Name). We hope that you are doing well with the house hunt. To help us move forward with your pre-approval application, we need (specify the additional documents required). You may opt to send it to us via email, fax, or drop it off personally at our office. If you have any inquiry, please feel free to contact us. Thank you!”

Getting a pre-approval may not be as easy as it sounds but lenders can try a different approach to make things easier for borrowers. In this modern world of easy telecommunication, the use of SMS or text messaging is the best way to make communication a breeze.

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