new feature announcement


Mortgage originators today face challenges in the marketplace from a variety of competitors. Because of this competitiveness, lenders’ risk management and profitability strategies are focusing more on mortgage pipeline management. A robust pipeline management process is crucial to converting leads to loans, meeting customer expectations, saving time and reducing costs.

A mortgage pipeline consists of mortgage commitments, and if managed properly it offers lenders an opportunity to capture more business efficiently, and in turn, become more profitable. However, managing a large pipeline can become burdensome if originators do not utilize the tools within their LOS to more effectively manage their loans.

Following Up on Leads

Since borrowers have many choices for their loan needs, they need help in making the right decision. Salespeople must follow up on individual leads to determine their engagement and see if there is a deal on the table. Loan Management System (LMS) search tools are the best way to accomplish this task quickly and easily.

Quick Searches – Using daily quick searches can help salespeople keep tabs on their leads by searching criteria to quickly follow up with borrowers in their pipeline or create a needed loan task. Grouping searches by tasks can help reduce process times and better organize the parts of your pipeline that need the most attention.

Saved Searches – Saved searches allow lenders to customize a search based on specific borrower criteria and then use this search tool to find only the information you need throughout the loan lifecycle. For instance, saved searches can help lenders quickly find only leads, or new originations, open loans with needs, or loans ready to close. These saved searches allow lenders to quickly address a group of borrowers with the same criteria.

Advanced Filters – Advanced filters can bring out more of the minute details of your pipeline than an advanced search, allowing you to sort originations by the loan amount, important dates, loan type, and much more. In utilizing the advanced filter tool of your LMS weekly, you can prioritize your pipeline data and address immediate tasks more effectively.

Pipeline Reports

Search tools are great when you have to find files quickly, but to gain better understanding and management of your pipeline, you will need to run a pipeline report. Pipeline reports generally allow users to export to an Excel spreadsheet, providing another tool to sort and closely review your loan files, share data with your team members, and follow up with borrowers. Moreover, you can utilize pipeline notes, and configurable columns within your LMS to build and refine the details of your pipeline report.

The best mortgage sales operations make a concerted effort to regularly review their pipeline and finely tune it to determine where they need to concentrate their efforts. These reports can identify bottlenecks in the pipeline and help you in deciding how and when to clear them. By performing this function regularly, you improve your pipeline process, and over time, it will become a robust, essential tool for your organization.

The Devil is in the Details

Managing your pipeline is all about the details. Your LMS provides all of the tools you need to process your loans efficiently, but without including the little details about each file, you will find yourself continually performing pipeline management duties that will soon become redundant and tiresome.

If the entire team buys into a real-time pipeline management solution, however, you will be more organized and efficient than ever, allowing you to process more loan in less time. When your pipeline is full of files, from leads to funded loans, it’s nearly impossible to manage manually. However, by taking advantage of the tools available in your LMS, you can more effectively manage your files, stay on top of important details, and build your organization into a more efficient, well-oiled operation.