Better MLO helps Loan Officer’s manage their leads and borrowers, ensuring they follow up with them at the right time and move them through the process towards filling out an application and eventually getting pre-approved for a mortgage. The ultimate goal is to turn leads into borrowers who close and fund a contract to purchase a home with the help of a referral partner (typically a realtor). We also have a similar pipeline for Refinancing but it’s a little more streamlined than the purchase pipeline.

In Better MLO terms, a Lead is someone who has expressed interest in getting a mortgage, which includes purchasing and refinancing. Prior to starting an application, the Better MLO system allows the Loan Officer to set up stages and associate their follow up schedule so that they may follow up with their Leads in a structured and logical method. A Borrower is someone who has started filling out the application. Both are important and the transaction between Lead and Borrower is seamless inside of Better MLO.

Once a borrower is under contract, the loan goes through various mortgage stages of processing and eventually approved or denied. Better MLO helps Loan Officer’s keep track of the progress and ensure they provide regular updates to the relevant parties on a consistent schedule without the need to “remember” who to call and when. This is accomplished by setting up call groups based on the mortgage stages and scheduling the calls via our proprietary call list cadence. Cadence is a great word for setting the rhythm of the calls a Loan Officer needs to make to be successful.

While the borrowers are "Pre-approved," the Loan Officer should be in regular contact with them and the realtor to maintain a good relationship to keep themselves top of mind. Additionally, they should also offer updates on the pre-approval status, as it can change based on market conditions and the borrower's qualifications. Finally, this is an opportunity for the Loan Officer to ask for more business and potentially expand their client base. Better MLO helps Loan Officer’s stay organized and keep track of these follow-ups.

Referral Partner Recruiting calls are a crucial part of Better MLO's call list functionality and a Loan Officer’s success. These calls are made to real estate agents, with the goal of recruiting them to work with the Loan Officer. The Loan Officer will have a dedicated group for realtor recruiting calls, and this group will appear on their call list for the day of their choice. The Loan Officer can see the list of real estate agents to call, along with their contact information such as name, phone number, email, and recent notes.

The goal of these Realtor Recruiting calls is to build relationships with real estate agents, provide them with valuable information, and ultimately, convert them into partners who will refer clients to the Loan Officer.

Better MLO is designed specifically to help Loan Officer’s manage their sales funnel and increase their income. The application is based on a combination of best practices and methodologies from various mortgage coaching programs and aims to streamline the sales process for Loan Officer’s by providing them with an easy and effective system they can use and follow. The focus is on having a system, using the system to achieve goals, and repeating the process for ongoing success.

When focusing on a system for better follow up, you must first understand who you are calling, how you work with that person, then decide on how to group those contacts and at what intervals to call them. As easy as that sentence was to write, accomplishing this was no easy task before now. The issues are many: Once you have a lead, following up with the leads in a timely manner isn’t easy to track nor even remember who you talked to and what was said. Then there’s tracking and remembering who the lead came from: again, not easy and many referrals fall through the cracks because there isn’t an easy and logical system to help you in this process.

At Better MLO, we truly believe that calling people is the MOST CRITICAL thing you do to be successful. So that’s our focus: calling the right person at the right time with the right information readily available.