Kristin Messerli is the Founder and CEO of Cultural Outreach Solutions, specializing in helping companies in the mortgage industry better reach and serve Millennial and multicultural homebuyers. To bridge the gap between consumers and providers, she launched a subscription social media service with content, delivery and coaching, called ModernLoanOfficer.com. Contact firstname.lastname@example.org for more information.
Mobile devices have forever changed the way that Americans make purchasing decisions and interact with their providers. According to the National Association of Realtors, 89% of new home shoppers use a mobile search engine at the onset and throughout their research and mobile communication is even more prominent among Millennial homebuyers. So why aren’t we using mobile technology in every capacity we can?
[Expert commentary] While we have witnessed the rapid disruption in products and technology, many experts believe artificial intelligence will disrupt the human interaction with homebuyers and remove loan officers entirely from the equation. However, data does not suggest this will happen anytime soon. According to consumer research by PricewaterhouseCoopers, today’s borrowers prefer a combination of digital tools with knowledgeable advisors.
[Op-ed] In the wake of the publication of a scathing column against Rob Chrisman, calling out his derogatory jokes, the industry’s response has been divisive. While I share the author’s concerns about some of Chrisman’s jokes, in my opinion, the author’s approach to initiate change was reckless and potentially harmful to our cause to improve inclusivity in our industry. I’d like to share an alternative approach to change leadership that I think is more effective for anyone wanting to implement change in our industry.
[Op-Ed] Leading companies are using multicultural marketing strategies on the front line as part of their total market strategy. The ones who are effective are not simply translating their flyers or adding diversity to their ads. Through their marketing efforts and customer experience, the best companies are reflecting the country’s shift in cultural norms and expectations to connect with today’s diverse consumers.
[Expert commentary] Today’s consumers are accustomed to making instant banking transactions and home searches from the palms of their hands, and they expect this kind of ease of use across industries. Ultimately, the best lenders are those who will bring greater transparency to the borrower, which often requires the adoption of new technology as it comes available. Here are different categories of technology every lender should be using and key considerations in choosing and adopting the right vendor.
The majority of homebuyers, especially Millennials, do extensive research online and on their mobile devices before making any purchase — especially for something as large as a home. While many lenders are jumping on the trend to incorporate technology into their customer experience, they are often ignoring the reasons why the technology matters. Here are five reasons why mobile technology should be key to every lender’s strategy.
This summer you may have noticed more young people than usual walking down the street staring intensely at their cell phones (sometimes to the point of physical injury!). While it may appear laughable to some, mortgage and real estate professionals can incorporate the game into their marketing strategy. Don’t believe me? Here’s how others are doing it.
Millennials and the general market, alike, have changed the way they approach purchasing decisions, along with their expectations of a good service experience. They now expect to be empowered through lenders to make informed decisions through mobile and digital communication. Are you delivering that?
While the call to action seems obvious, lenders continue to struggle with adapting digital technology. Mobile technology is no longer an optional luxury. It's become a necessity to compete in today’s market.
It’s not that Millennials aren’t loyal or uninterested in mortgages, it’s that they put less emphasis on the job and more on the experience. In order to secure and retain more young employees, you will need to adjust how you do business. These examples will help you gauge how to adapt.
President Donald Trump appointed Calabria to take the helm of the FHFA on December 12, 2018. The Senate then officially confirmed Calabria in April by a vote of 52 to 44 as head of the agency. Since then, Calabria has not been silent on his plan to reform the FHFA and the entities it oversees – Fannie Mae and Freddie Mac.