How is technology transforming your lending practice? A mortgage pre-approval generator can enhance the customer journey. It can also help you build relationships with each potential client. Here are some of the mortgage pre-approval best practices for mortgage pre-approval tools.

Offer Online Accessibility

No matter what kind of mortgage pre-approval tools you use, make sure they’re accessible online. This makes it more convenient for borrowers to engage in the mortgage pre-approval process.

Many customer relationship management (CRM) platforms already offer an online portal. This makes it easy to connect with borrowers and streamline the application process. Your platform will make it easy to perform tasks such as:

• Uploading documents
• Signing forms electronically
• Communicating with the client

Additionally, online tools are fast — and easy. Give clients what they expect with a secure online portal.

Educate Users on the Pre-Approval Process

Borrowers may be confused by the different types of mortgage pre-approval calculators. But that also creates a unique opportunity. You can work to educate clients on topics such as:

• The difference between pre-approval and pre-qualification
• The steps in the pre-approval process
• The validity period of the pre-approval letter
• The ways your rates compare to other lenders

Educating your web visitors can give them greater confidence about the process. It may also make them more likely to stick with you through the rest of the borrowing journey.

Integrate With Your Mortgage CRM

A mortgage pre-approval generator will harvest key information from each applicant. You can use this data to drop the applicant into your borrower pipeline.

Your mortgage CRM can allow you to connect further with each borrower. For example, you might send a follow-up email to let the client know what to expect next. Or the user’s financial data may reveal a less-than-perfect credit history or high debt. Use this as an opportunity to promote affordable loan options, such as an FHA loan or USDA loan.

Automate Your Pre-Approval Letters

The best pre-approval generators offer automation and other core features. For example, you can use a generator to dynamically create pre-approval letters. This allows you to adapt each letter based on your unique needs — or the needs of your client.

The best platforms also let you define unique parameters. The system will then create pre-approval letters based on these parameters. As a result, you’ll automate your core processes while remaining flexible for each client.

Communicate Clearly and Regularly

Do you want to build strong relationships? Then your best option is to communicate with each client. The best tools allow you to provide feedback to your applicants. You can let them know about their progress through the pre-approval process.

That’s also important if you’re missing a vital piece of data. You can contact the applicant immediately and ask them to submit the missing data. That way, you’ll keep the process moving forward.

Use the Right Mortgage Pre-Approval Tools

The right tools make all the difference. Selecting the right pre-approval generator can help you grow your business. It can also allow you to deliver a superior customer experience. 

The BNTouch platform offers a pre-approval generator with dynamic features and customizable options. To discover how these tools can enhance your lending practice, contact BNTouch for a demo.

To learn more or schedule a demo, contact BNTouch today.

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