Vantage Production LLC, a provider of advanced automated marketing and sales acceleration solutions for mortgage lenders, recently brought five large non-bank lenders into the Vantage Production VIP customer relationship management (CRM) user network. The new clients collectively have more than 1,000 mortgage loan originators (MLOs) among their ranks, and are comprised of multistate, regional and national organizations according to the statement.
The lenders, who opted to remain unnamed, consistently cited three compelling reasons for adopting VIP’s advanced CRM capabilities: compliance, recruiting and increased production, Vantage Production President and CEO Sue Woodard said.
“Lenders are justifiably concerned about having true control over what mortgage loan originators are representing in the field, especially when a lot of damage can be done with unsupervised email, social media and sales presentations,” Woodard said. “Lenders today simply must have control to ensure compliance. They also need the reporting tools to verify they have been marketing and lending per CFPB guidance.”
Many mid- and top-tier lenders are growing and need the right technology to facilitate that growth, particularly on the regulatory front, according to Woodard.
“TRID is the watchword du jour, but it’s just the start, as every aspect of mortgage origination is under the microscope,” Woodard said. “VIP makes the scrutiny not only survivable, but actually creates an environment where prepared lenders can thrive.”
Recruiting top producers is a top priority for lenders today, Woodard added.
“In order to attract the best origination talent, whether individually or as entire branch organizations, lenders need sophisticated tools that will help MLOs do more business,” she said. “VIP provides tailored marketing campaigns, creating collateral that is compliant and individually crafted for each borrower’s needs. Tying it all together is the reporting capability that is designed to make this aspect of a CFPB audit go without a hitch. In the past, it was all about cost in the minds of lenders. Today, they are finding that these advanced CRM tools will substantially trim their costs while increasing production.”