First Home Mortgage achieves an outstanding borrower conversion rate with Encompass Consumer Connect
Staying in front of borrowers is key
First Home Mortgage discovered that the key to increasing borrower conversion rates was to remove all roadblocks at the initial application stage and solve problems before they arise. By customizing applications based on service area, and even for individual loan officers, they were able to confidently direct borrowers to the Encompass Consumer Connect® portal knowing they’ll get all the correct information they need right from the start.
Having applicants upload complete documentation at the beginning is crucial for loan officers to quickly identify and deal with potential issues early in the process. With Consumer Connect, customers can also instantly engage with their loan officer, check the status of their loan, and upload and eSign documents securely. First Home now delivers a smoother borrower experience and has achieved an outstanding application-to-closed-loan conversion rate.
2023 ICE Innovation Award Winner
When First Home Mortgage won the 2023 ICE Innovation Award for Borrower Conversion – Best Application-to-Closed Loan Conversion Process, they were boasting the highest conversion rate for applications started among all Encompass Consumer Connect customers. As early adopters of Consumer Connect, First Home found unique ways to integrate the technology into their workflow and use it to simplify the lending process for both borrowers and their team.
Company profile
- Based in Baltimore, MD
- Branches up and down the East Coast
- About 150 loan officers
Products used
The challenge
As digital lending technology rapidly expanded in the mortgage industry, First Home knew they needed a borrower friendly online portal that was easy to manage, intuitive for loan officers, and cost effective.
The solution
With Consumer Connect, borrowers have a place to easily upload documents and find information throughout the lending process. They can complete the entire application process online, with very little assistance.
“Our customer feedback after we implemented Consumer Connect has been almost 100 percent positive. The borrowers find it easier to use, uploading documents is much easier, and you can complete many tasks on your phone. And being mobile makes it all much better.”
Consumer Connect unlocks conversion potential
First home Mortgage customers love Consumer Connect because it's very easy to use, provides full transparency, and eliminates mistakes.
Securely
Upload documents right into the borrower portal
Simplify
The approval process by collecting documents upfront
Move
Borrowers from application to closing in a timely manner
Immediate
Uptick in online borrower applications
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Resources
Learn more about how ICE Mortgage Technology is changing the industry and stay up-to-date with the latest tools and information.
Learn more about Encompass Consumer Connect
Find out what borrowers want in the 2023 Borrower Insights Survey
Navigating the future of borrower engagement