Contact Types

Contact Types

In Better MLO, in addition to Contact Stages, we use a Contact Type field. For Contact Types, there are only 3 types:

Lead:

A "Lead" is a contact who has expressed some type of interest. The Lead could be someone who contacted your company directly or who was referred to your company by a referral partner. The contact stages help you identify their active engagement with your company.


Borrower:

A "Borrower" is a contact who has progressed further down the sales funnel and taken time to “start” an application with your company. They have shown serious intent to make a purchase, and there is a chance to convert them into a paying customer.


Co-Borrower:

A "Co-Borrower" is a contact who is also on an application with a Borrower but is not typically the primary point of contact.

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