Do Your Loan Officers Have Texting Game?
Heightened borrower expectations for a fast, frictionless, and more digital loan process are putting significant pressure on lenders to be responsive in near real time. However, most lenders have been slow to adopt the fastest growing method of communication in mortgage lending: text messaging.
To better understand shifting borrower expectations for text messaging during the loan process, and how lenders’ use of texting measures up against those expectations, we surveyed more than 500 borrowers and 350 lenders. Some of our findings were expected - others were not.
In this study, you’ll learn:
- Growing text messaging trends in borrower outreach and prospect conversion
- Where texting outperforms all other communication channels
- When borrowers prefer to be texted and when they don’t
- How texting can make a difference throughout your loan process
- The top three reasons lenders don’t text and how to overcome those obstacles
Accelerate your loan process by meeting borrower expectations. Download this study to learn how to best incorporate text messaging into your communication strategy.