Independent Banker - July 2017 - 51

be thought of as their situation, even
though it mirrors others'. "
Part of enhancing that learning
experience should involve outlining
the process and requirements
early on, so borrowers know what to
expect, says Ron Haynie, ICBA senior
vice president, mortgage fi nance
policy and executive vice president
of ICBA Mortgage. With the average
mortgage taking more than 40 days,
according to Ellie Mae, and lenders
delving deeper into borrowers'
fi nances than before, constant communication
is key.
Mobile connections
Cumberland Bank & Trust in Clarksville,
Tenn., introduced a mobile
mortgage app two years ago to give
customers another way to interact
with the bank. Located near Fort
Campbell, an area with a military
installation and a fair amount of
turnover, the $170 million-asset bank
thought the app might give it more
reach and help spread its name, says
Tammy Trice, vice president of the
mortgage department.
" We felt like it was something
we needed to do, " she says. " We're
customer-service oriented. Anything
we can do to ease concerns and help
them, we do. "
The app connects directly to the
community bank's front-end software
and makes it easy for customers to
see exactly where they are in the loan
process or upload documents. They
can also communicate with their
loan offi cer, share the app with their
realtor and save loan payment and
affordability calculations.
Cumberland Bank & Trust is still
testing the app, which hasn't been
widely adopted despite a six-month
ad rollout in a local real estate digest.
While its primary purpose is to give
borrowers more channels to connect
with lenders, it's also helped lenders,
who get an alert when a new
customer downloads the app or an
existing one runs new calculations or
asks a question. That gives originators
the opportunity to proactively check
in and see if there is anything they
can do to help, says Trice.
It's an approach mirrored by
Quicken Loans, the largest nonbank
lender in the mortgage arena, notes
Dombrowski. " They assume you
know what you're doing until you
stop in the process, " he says. " Then
they will reach out and, via text and
email and calls, reengage you. "
This two-layer approach of both
digital and human interaction is a
smart strategy to adopt, even after
credit is granted. Changes with
servicing, payments or problems with
taxes are all chances to follow up,
even if it's just a video explaining how
escrow analysis works.
Going digital
Another valuable technology is online
origination tools, which make the
application process faster, more accu " Millennials
really
enjoy [the] personal
touch. They want it to
be thought of as their
situation, even though it
mirrors others'. "
-JOE DOMBROWSKI, FISERV
rate and more compliant, says Haynie.
These tools guide customers through
the process, intuiting whether the loan
is a purchase or refi nance, so they only
ask relevant questions. They also fl ag
errors so loan offi cers can follow up
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Independent Banker - July 2017

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