With Inflooens, you’ll save time, reduce complexity, and close deals faster. By streamlining mortgage processes into one intuitive platform, you’ll enhance efficiency, improve borrower satisfaction, and gain a competitive edge—empowering you to focus on growing your business and delivering exceptional customer experiences.
Category
🤖
TechTranscript
00:00At HousingWire, we know that staying ahead in the housing industry means having the right
00:09tools and technology at your fingertips.
00:12That's why we're bringing you Demo Day, a curated experience designed to showcase the
00:16latest and most innovative solutions in the mortgage and real estate space.
00:21I'm Alison LaForgia, the Managing Editor of the Content Studio, and today we're diving
00:25into Influence.
00:27With Influence, you'll save time, reduce complexity, and close deals faster.
00:32By streamlining the mortgage process into one intuitive platform, you'll enhance efficiency,
00:39improve borrower satisfaction, and gain a competitive edge, empowering you to focus
00:44on growing your business and delivering exceptional customer experiences.
00:49Marty Clark from Influence is joining us.
00:51Marty, take us through the platform.
00:54All right, so I'm going to jump into Influence and show, first off, what our lead management
00:59system capabilities look like.
01:01The underlying concept here is that everything is actionable, so I'm looking at currently
01:06my book of business.
01:07I'm going to jump over to my priorities.
01:09There is prioritization, ultimately, that's happening in the backend based on your organization's
01:17top priorities, things that you might want to call out.
01:20All of this is configurable, so this view provides a ton of information at the loan
01:24officer's fingertips to keep them in this single pane of glass concept.
01:28Each of these are clickable, right?
01:30So if I want to call this borrower, if I want to email them, text them, it's keeping me
01:34in the same screen, but also giving me the ability to mass text and communicate with
01:38any of these clients simultaneously.
01:41So by selecting all of these leads here, ultimately, I have all of these different tools available
01:45at my fingertips.
01:46I can even customize my screen and my colors to make them more pertinent, if something
01:51is more of a priority than others, but each of these things are available at my fingertips.
01:56I'm going to actually go in and show what one of the lead flyouts look like and the
02:02information that's available within the flyout.
02:05As I scroll through here, I have a number of different tabs, tons of information that's
02:09organized within the lead flyout.
02:11I'm going to scroll through here and show you just here's your high-level info, your
02:14loan information.
02:16I can pull credit directly from this screen.
02:18I'm going to go ahead and mark consent and show you what those screens look like.
02:22Jump in here and I can select a soft or hard pull.
02:25I can even designate which credit provider I'd like to use.
02:29Once that credit is pulled, the system's going to pull in all the information for me in addition
02:33to every single payment, an aggregate of what the revolving debt looks like, the installment
02:39debt, mortgage debt, and ultimately, the system is also telling me that I have new opportunities.
02:45While this lead may have been created as a purchase lead, it's actually coming in and
02:50because of the information available from the credit report, it's telling me that there
02:55is an amount of revolving debt that would have a potential opportunity for this borrower
03:00as well for a refinance situation because it's recognizing that that mortgage exists
03:04on the credit report as well.
03:06Assuming that my borrower does want to pursue a refinance and look at consolidating all
03:11of this revolving debt, I type in the potential interest rate here and then I can go in and
03:16see what that potential savings is.
03:18So here it's showing me the potential savings 15 year, 30 year.
03:21It's showing me the estimated potential savings in each scenario.
03:25I'm going to go ahead and run product and pricing.
03:27Jumping into my pricing engine, all of that information is cleanly pulling through into
03:31this view.
03:32All I've got to do is, you know, look over a couple of things, submit it, and it's going
03:36to give me what those pricing scenarios and available products are.
03:40I can go in and view those details, select a couple of scenarios that I want to send
03:44out to the borrower real quick.
03:45I'm still on the phone with them, moving super fast.
03:48I can go in and hit send quote.
03:50It's going to pull up my email communication as well as the PDF that I'm sending out to
03:56that borrower directly within the screen itself.
04:00So here's my product quote, nice, beautiful looking PDF that explains what all these things
04:06mean and also includes both of those pricing scenarios.
04:09So I'm going to do a quick view of that.
04:11I can review it while I'm on the phone with the borrower if necessary, but I've also got
04:15this email that I can send out to the borrower so that they've got a copy without us even
04:19having jumped off the phone.
04:22Now that my borrower has consented, right, let's say that experience was wonderful, I'm
04:26going to go and request documentation from them so that I can get this file over to processing
04:31and hopefully move forward and get this loan funded.
04:34So I'm going to go ahead and let's say I'm just requesting additional documents for now.
04:39I go in, request, let's say it's just the ID, I'm going to add those documents to my
04:42request and send the request directly from WithinInfluence.
04:46That's going to post a requirement to my borrower's portal.
04:48They can go in and see a real-time list of what they need to provide me in order to move
04:52towards the next steps.
04:55Now that my borrower has committed, they've sent documentation back, now it's time to
04:59show you the piece where the processor steps in.
05:01So here's a view of what that loan dashboard looks like.
05:04You can see that it's the same information.
05:06However, it's been re-skinned in a way that provides more of a task-based workflow for
05:10the processor.
05:12The same timeline also exists, so that timeline has carried over.
05:16My processor has insight into everything that's happened on this client record, not just with
05:21this loan, but the actual client's record itself.
05:24So I've got, I see the SMSes that have been sent, calls that have taken place, right down
05:31to kind of the finite details of everything that's happened on this client's particular
05:35journey with our organization.
05:37You can even see where I can pop out the email and see exactly what email was sent.
05:42Maybe I actually want to follow up on that particular email.
05:44I can edit it directly from that view and send it out to the borrower.
05:49It's also going to contain my high-level loan information, so my loan summary, my important
05:55dates, kind of the timeline that I've set out for this particular type of loan, which
05:59is all templated and configurable in the back end of Influence.
06:03I can capture my transaction partners within this view, so I've got my insurance agent,
06:08my buyer's agent.
06:09I can subscribe them for a different communication based on rules and automation that I set up
06:13in the back end.
06:14I can request documentation and also communicate with them from this view.
06:19There's even automation pulling in the right email template based on the fact that I selected
06:23the insurance agent.
06:25So these merge fields are built in here so that my processor or even my loan officer
06:29who's using these dynamic templates, they can click a few buttons and within three clicks,
06:34you know, a max of 10 seconds at times, they're sending out that communication that's beautifully
06:39crafted, right?
06:40Marketing approved, branded, all that good stuff all in one email with just a few clicks.
06:48I'm going to jump down real quick and show you how the tasks and conditions work.
06:51So the entire framework behind the operations piece is that it's a dynamic task-based workflow.
06:58So here's a list of the conditions that are going to populate on this particular loan.
07:02So just kind of a sample size of what those look like.
07:05The conditions are created based on dynamic characteristics of the loan and the client itself.
07:10So maybe I've got a purchase with...
07:15I've got a purchase transaction where I know that there is a value in the earnest money field.
07:22So that condition is going to populate dynamically.
07:24I know I'm going to need to request that from the borrower.
07:27But as I'm doing a quick scan of these items that I need, I can actually select a few of these.
07:31Maybe they don't apply, you know, system created them as kind of a catch-all for me so I don't forget,
07:36but I need to select a couple and delete it, right?
07:38So I'm working through these.
07:39I can edit them actually from this view itself or I can open up the entire flyout in order to track the status of that condition.
07:46I can also push out a request for those conditions directly to my borrower.
07:52So if I email the borrower conditions out, I've got a quick view of which ones I want to include
07:56in case there's, for some reason, something that I want to exclude from my communication.
08:01I click on my email borrower conditions button and it's going to pull up my email component
08:05so that I can then push that request out to them beautifully nested underneath the title of the description.
08:12So not only to have I sent out that request and there's a paper trail of it directly in the system,
08:17but now my borrower is actually getting those requirements posted to their portal as well.
08:22So my loan officer comes in behind me.
08:24Maybe I'm on vacation, right?
08:25Somebody is coming in and helping out with this particular file.
08:28They should have an updated list of what those requirements are at any given time.
08:34Same framework exists for the tasks.
08:35So tasks are also dynamic task-based workflow concept where my system is reading the characteristics of the loan and the client itself
08:45and creating these tasks for the borrower to work and maintain as that loan progresses.
08:50So maybe I've got title work that needs to be followed up on.
08:53I've got hazard insurance, things like that that are going to be standard.
08:56But ultimately, those tasks are being created based on those specific characteristics.
09:01So you talk about a lot of baked in training here, you know, different descriptions and videos that can be uploaded here to really kind of push the processor in the right direction.
09:11You know, scalability and also reduced FTEs, reduced full-time employees, headcount here.
09:17You're really able to leverage the capacity within your department without having to, you know,
09:23have somebody go make an Excel document of what they need to have done for the day or come up with a massive email list of, hey, I'm going to be out tomorrow.
09:30What do I need to do for you?
09:32This really just kind of gives the capability to jump in and see all of that work that's been done.
09:37You can see the history on the tasks themselves.
09:40And what I also love about this is really the coachability, right?
09:43You start to, in my opinion, managers stop becoming task pushers and task managers and kind of, you know,
09:51where things escalate to and they start to really be able to coach more towards performance and look through how things are being executed in order to get loans funded.
10:00The checklist is another huge component of this.
10:02So, again, you just see that baked in training and that kind of that guided workflow.
10:07There's a ton of other tools available within Influence.
10:10These tasks are going to pull into your work assignments view.
10:13As a manager, I can see kind of the health of my department.
10:16I can see each person, how they're doing, and I can drag and drop people to reassign those tasks if needed.
10:24I showed you the business partners a little bit.
10:26This is an entire component dedicated to those business partners and, you know, prior successes,
10:33how often have I worked with them, and also just making their information easily accessible within the system.
10:39I've got my mortgage call report capability, which is something we're really excited about.
10:43A ton of different capability here to be able to generate these call reports on demand.
10:48And then also I wanted to show you a retention workspace real quick.
10:50So we've got closed loans here.
10:52I'm back in my lead management view.
10:55I can see these closed loans at any given time, and I can also start to mine some of these activities.
10:59So maybe I want to push out some communication to those closed loans.
11:03I've got all that information available at my fingertips to be able to really re-engage those borrowers
11:08and ensure that I maintain that book of business.
11:12Let's jump into some questions and explore some more of the capabilities of Influence
11:18and how the platform supports industry professionals by bringing mortgage to a single screen.
11:25Yeah.
11:26How does Influence address some of the primary operational pain points that are seen in the industry?
11:33Yeah, so I think that Influence addresses every aspect of daily work from a loan officer perspective,
11:41from a processor perspective.
11:43You know, people are no longer going and hunting and pecking for different details, the way I like to put it.
11:49Processors aren't reprocessing loans, right, every day to kind of figure out
11:54and just prioritizing from a closing date perspective.
11:57They actually are able to daily go in and work on different tasks that are important that day.
12:03You know, in terms of just pain points overall, I think transparency is always a big pain point.
12:10From internal transparency to communicating directly with borrowers,
12:15you know, everybody kind of having that active list of things that need to happen in order to move on to that next phase
12:21in the mortgage process, to me, that is huge.
12:25You're not having to ask questions or, you know, bother your processor or bother their manager to escalate something.
12:33You've really got somewhere where the system is giving you, like I said, it's that guided workflow,
12:38but it's also giving you all the tools that, you know, people ask me like, well, isn't this a lot of work for the processor?
12:47And it's like, well, it's just putting it somewhere where you can see it, right, in one place where you can see it.
12:52Processors are still doing all that work.
12:55They're just living in five different systems to do it.
12:58So I think in terms of pain points and as somebody who's been in operations before,
13:03it addresses really all of my major pain points.
13:06And I always say that I love the role that I'm in now, but I also would have loved so much to have had this.
13:13Like, maybe I should go back to processing for a little bit because it's just so exciting to me that something like this exists now.
13:19You know, so that was my long answer.
13:21But I think that in terms of addressing pain points, this is really a game changer.
13:27So you mentioned that this platform genuinely excites you.
13:30What do you think excites you the most about working with Influenz and the potential that the platform has to really transform the industry?
13:42Yeah, I think that what excites me the most about working with Influenz is, and I kind of alluded to this already, right,
13:51that I think it's really going to be something that employees also love to engage with,
13:57like having an actual system where they're not jumping out to 10 different places to work on things.
14:02They're not having to, like I said, hunt and peck and pick up the pieces of where they left off because it's right in front of them.
14:08So, you know, as somebody who has kind of lived that life previously, that really excites me,
14:15the fact that, you know, our employees in this industry also have tools available to them that they would actually enjoy working with rather than being so cumbersome all the time.
14:25That is amazing.
14:26But let's, I'm going to ask you one of the harder questions here and get down to some brass tacks.
14:32What kind of feedback have you actually received from lenders who are using the platform?
14:38Yeah, so, you know, I think one of the most stressful things about this industry is when things go wrong, right?
14:45So my borrower's upset, something happened.
14:50How do I give employees a tool that is going to take away the meaningless, tedious tasks that they have to do every day and really focus on borrower service?
15:01And so that's one of the things that we have heard the most is it really gives me time to focus on the things that really do require my skill set as opposed to typing up emails all day or copying and pasting fields into those emails, right?
15:16Or as a loan officer, trying to spend hours upon hours throughout the week, trying to like put a quote together.
15:22I mean, you saw me do it in a matter of seconds, right?
15:24So I think that's one of the things that we hear the most positive feedback about and the most excitement from lenders that we work with and other clients is just their ability to now focus on things that are going to increase their customer service scores and also their customer retention, right?
15:42So our CEO, he loves to talk about this particular statistic that in other industries, the retention rate for customers is approximately 74%.
15:53And in the mortgage industry, it's 18.
15:57So how do we enable lenders and other service providers and financial institutions to help with their retention and to make that customer service experience so much more positive so that that retention play is not so difficult every time, right?
16:12That their customers are going to be so excited to go back to them, that that experience was so amazing that they have that customer for life.
16:19And then that just, you know, continues to build on their organization success.
16:22So, I don't know, all of those things are super exciting to me, like from an employee perspective to enhance that experience, but then also to have that kind of impact on our borrowers as well.
16:34It sounds like it really is a platform that has the potential to transform the industry.
16:39Thank you so much for taking us through Influence.