How Mortgage Network uses Homebot to Disrupt the Mortgage Industry and Empower Loan Officers

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>20k

Clients receiving Homebot

2019

Customer since

72%

Unique Open Rate

About

Mortgage Network

Company Background

For the past 35 years, Mortgage Network has remained true to their founding mission: to help people finance their dreams. They believe first-and-foremost in a commitment to the borrower experience. By investing in award-winning technology and a consultative, relationship-first approach to originating, they have consistently maintained a 99% customer satisfaction rating. Homebot’s highly personalized home finance insights provide meaningful value to borrowers, while giving their loan officers an impactful way to stay connected.

Challenges in the marketplace

Our financial climate remains a difficult channel to cross for loan officers and buyers alike, and with all the noise being generated, it’s understandable why everyone is looking for a single source of truth. When confronted with the challenges of uncertainty and low market inventory, Mortgage Network uses Homebot to create business by nurturing their past client database.


“If there’s nothing for sale in your town, you have to create your own listings. You have to create your own transactions.”


Mortgage Network’s consultative strategy has been paving the way for their originators to be seen as the expert that clients need in this often chaotic marketplace. From home values to financial goals, interest rates and beyond, the demand for a tech stack to deliver valuable information to their clients is massive, and that’s where Homebot shines.


“We have a very high propensity to retain our customers, but it’s a lot of work. We were looking for something that would keep that relationship warm and keep us top of mind.”

A virtual assistant for the consultative LO

Loan officers are notoriously busy and inundated with communications from clients, agents, and everything in between. With this in mind, making the most out of their time and simplifying workload is key for Mortgage Network. “Homebot has been able to almost act as a virtual assistant in the sense that borrowers end up reaching out to us as if an assistant had reached out to them,” continues Brian Koss, EVP of Sales and Marketing at Mortgage Network, “it’s as if it makes an outbound call to a borrower and says “Hey did you realize your property went up and rates are here?”.


With Homebot cultivating leads for originators, it empowers them with more time and focus for higher value interactions, but that’s not the only appeal behind Homebot being in their tech stack. Mortgage Network’s team of LOs consider themselves as consultants first, educating and informing clients so that they can make the decisions that best fit their needs. Homebot reinforces this approach through engaging questions that homeowners and buyers care about, enabling conversations that really matter.

“[Homebot] tees up opportunities, asks questions that gets a borrower engaged, and then you can have a more professional discussion as opposed to talking about products, talking about one-hit solutions.”

Finding ROI, implementing the solution, and delivering results

Prior to a more full implementation, and with every assimilation of new tech into their stack, Mortgage Network sought after the ROI of using Homebot, seeking feedback and stories from the loan officers who built it into their workflow. One of the many such success stories saw an LO that was under indexing on refinances, struggling with insufficient time in the day to work her book of business. After signing up for Homebot she had three people reaching out for refis that were already sold, not talking about rate, just saying, “Hey, help me. What do we got?”.

“It’s working on your behalf without you having to do anything. So for top producers, what they really care about the most is time.”

With proof-in-hand and LOs thrilled about using Homebot, Mortgage Network looked to move the client-for-life portal into a more permanent offering. As with any new tech adoption, they had attorneys and tech teams express concerns over implementation and connections with their CRM and other tools. What they didn’t expect, however, was an incredibly easy and seamless integration, specifically citing a quick, quiet, and smooth experience across the board.

“I know when things are not working well, my email explodes and frustration occurs. We had none of that. When we did the integration, it worked, it worked well.”


Ultimately, Mortgage Network cares about simplicity, a provable ROI, and delivering as much value to their loan officers and clients as possible. With Homebot they managed to achieve these in spades, empowering their team with the best tools in the industry to ensure their LOs have every advantage and are able to leverage disruption throughout their market with the click of a button.

I could see that this was going to be a disruptor that I wanted my loan officers to have access to, and if I could get a little ahead of the curve it was really going to stick out there for them. So we did, and it has, and it’s worked out great.

Brian Koss

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