MortgageSAT Monthly Tips – STRATMOR Group

When It Comes to Borrower Satisfaction, Why Is Peer Comparison So Important?

Share this...FacebookTwitterLinkedinFor twenty years, the Mortgage Bankers Association (MBA) and STRATMOR Group have jointly conducted the PGR: MBA and STRATMOR Peer Group Roundtables Program. In...

Asking Multiple Times for the Same Document: How Much is This Mistake Costing You?

Share this...FacebookTwitterLinkedinSuppose you were given a clear set of instructions to increase your revenue by $200,000 this coming year. You’d take a close look, wouldn’t...

How Important Is It to Call the Borrower Before the Closing?

Share this...FacebookTwitterLinkedin Imagine going out to a nice restaurant and enjoying a great meal with great service, but when your check arrives, you find that...

How Important Is An Initial Checklist?

Share this...FacebookTwitterLinkedin The number one complaint that borrowers have about the loan process is poor communication. Starting on the right foot with communication means providing...

Is There a ‘Best’ Way to Provide Loan Updates to Your Borrowers?

Share this...FacebookTwitterLinkedin When STRATMOR group asked 66,000 borrowers their preferred method for receiving loan updates, a vast majority — nearly 60 percent — chose ‘Email...

Can Measuring and Improving Borrower Satisfaction Impact Company Valuations?

Share this...FacebookTwitterLinkedin The mortgage Mergers and Acquisitions market is accelerating, for both Banks and for Independent Mortgage Bankers. In fact, Bank M&A activity (banks buying...

Will Investing In An End-To-End Digital Loan Process Improve Borrower Satisfaction?

Share this...FacebookTwitterLinkedin First, let us define what “end-to-end digital loan process” entails. It typically begins with providing access to a digital 1003 (web or mobile...

Do Testimonials Actually Drive Referrals?

Share this...FacebookTwitterLinkedin Search for “loan officer reviews” online and you’ll get a list of roughly 30 million results. Add the word ‘mortgage’ and you still...

How Can We Get Borrowers To Embrace Paperless Statements?

Share this...FacebookTwitterLinkedin According to National Benchmark data from STRATMOR’s MortgageSAT program, just 19 percent of borrowers say they are enrolled in paperless statements, with 77...

What Effect Does Requesting The Same Document Multiple Times Have On The Borrower Experience?

Share this...FacebookTwitterLinkedin According to research from MortgageSAT, the largest satisfaction benchmark in the mortgage industry with more than 120,000 survey responses annually, 28 percent of...

How Do You Keep Real Estate Agent Referrals Flowing?

Share this...FacebookTwitterLinkedin Ask any LO how easy it is to start a relationship with an established real estate agent and you’ll probably get an earful...

Do Loan Officers Really Need To Attend Closings?

Share this...FacebookTwitterLinkedin I’m sure you’ve heard the saying, “Defense is sometimes the best offense.” If you’re a loan officer, this means you’ll likely be blamed...

Do Small Gains In Borrower Satisfaction Add Up To Big-Picture Impact?

Share this...FacebookTwitterLinkedin According to a 16-year study based on data from the American Consumer Satisfaction Index (ACSI), the answer is a resounding ‘yes’. As evident...

How Are Borrowers Using Online Reviews?

Share this...FacebookTwitterLinkedin According to a recent research panel conducted by STRATMOR Group, 64 percent of borrowers are reading online reviews before making a financing decision. This...

Which Social Media Sites Have The Greatest Potential For Impacting Revenue?

Share this...FacebookTwitterLinkedin One thing we know for certain is that social media and review sites are not all created equally. Some sites attract more traffic...