Thanks to the advent of technology, businesses can now be more lucrative when it comes to roles they can offshore. Mortgage brokers never could have imagined that their roles could be outsourced. Growing at a steady pace, many more in this industry are outsourcing one or more of their processes.
Since this profession involves a lot of client-facing transactions, one might think it would be difficult to do them virtually. However, mortgage brokers do more than assist and develop relationships with clients. Most of their work is actually done behind the scenes.
With tons of paperwork and routine tasks on their plate, mortgage brokers can benefit from having remote staff that takes care of administrative work so they can focus on their core expertise.
Mortgage broking services to outsource
It’s not new for mortgage firms to outsource certain processes for the sake of cost savings and increased efficiency. Here are the top 4 services clients are looking for:
1. DATA ENTRY FOR MORTGAGE LOAN PROCESSING
Data Entry is a tedious yet time-consuming role. Affixing client details to a system requires accuracy and also demands speed. After all, these data are necessary in order to proceed to the next steps of the mortgage process.
The information they enter and upload to the system includes:
- Personal details
- Assets and liabilities
- Income and employment details
Aside from that, they are also responsible for verifying the details provided by the client. Data entry staff may also request valuations to determine a property’s value.
2. MORTGAGE BROKER SUPPORT
As mentioned earlier, mortgage brokerage requires loads of desk work. It’s overwhelming to cover paperwork and client relations simultaneously, so it’s highly beneficial to have a remote Mortgage Broker Support staff.
You can expect your remote staff to handle repetitive tasks for you, as well as organize your calendar, set and confirm meetings, and create reminders regarding deadlines.
They also handle the administrative side of mortgage brokerage, such as supervising the first stages of a client's loan process, from pre-approval to post-settlement. Checking files from pre-approved sales and verifying a client’s compliance also falls on them.
3. LOAN PROCESSING SUPPORT
Assisting mortgage brokers at every step of the lending procedure, remote Loan Processing Support staff help improve the overall efficiency of the process.
Staff in this role keep constant communication with lenders to track the status of a client’s loan application and give updates to keep them informed. They can also be assigned to prepare post-settlement activities.
4. CLIENT SUPPORT AND LEAD GENERATION
Addressing clients’ queries and concerns is a task that takes up a big chunk of a mortgage broker’s time. Having Client Support Specialists handle these issues improves the customer experience and enhances customer satisfaction.
Client support specialists can also help gather client information over the phone. Likewise, they can also do cold calling to gather leads and prospects for your business.
Outsource with The Remote Group
Through our extensive talent pool, we easily connect clients with their ideal candidates. Our services aren’t only cost-effective but also add value to your overall business. Get in touch with our experts today to start your outsourcing journey!