Effective pipeline management

[Thills]

Looking for some feedback guys. What is everyone using to effectively manage and track there pipelines? My business is getting very busy and need a more effective way to track my current business in processing. I would use encompass however the brokerage I work for only has processors using it and originators are now using Point. I am looking to make a transition in how I track my business to accomodate a pipeline o 30+ closings per month and all of the individual steps that go along with said closing.

Thanks in advance.

Tim

[The Wizard]

Hi Tim,

Emcompass has a strong tracking system, yet if operations uses point they can build a report to give you the tracking you would feel comfortable with it would take someone about a hour to build the report. We build those reports for our clients all the time.

Congrats on having 30+ in the hopper.

[Thills]

Amanda,

Thanks for the feedback, I will admit having that many deals in the pipe is slightly overwhelming. Hence the search for a more effective way to manage it. With point does the report not only have the ability to track when appraisals, title, docs, and other misc. items are ordered and recieved as well as marketing efforts such as, approval letters, realtor updates, gift baskets to be sent post closing items etc.?

I am really trying to find a good all in one solution that will handle all of these tasks until I have found a solid Transaction co-ordinator to hire. I have found www.BNTouchmortgage.com so far in my research to be the best resource for this.

Would love anyones else's feedback on pipeline management as well as BNTouch.

Thanks again,

Tim

[Top Lender]

pushmx is a good pipeline management system once the deal is uploaded. before that, you have to decide how to manage your working pipeline. bntouchmortgage.com is okay, but is slow sometimes.

good luck

[mamoore]

I have used point and I now use encompass. I like both. I was forced to use encompass and although I was kicking and screaming because I loved point. I must say that encompass has more functions

Bottom line your LOS for your Upfronts and you can use what ever you want and the added functions are nice but not that important.

I think that you have to have a system in place to streamline and keep your pipleline EASY to manage.

I have always tried to find better ways . I like to move fast have good time management.

If your getting a ton of business , that means you also dealing with non buyers too. So you have a bigger farm on top of all the business that you generate.

I am not sure how you get all of your business but I have many sources that all generate business, I do things the same every day of every week of every month and all over again the next month.

My direct mailers go out on mondays. I have different mailers and I alternate them.
I get live transfers for Tuesday and Thursdays. Wednesday I am calling triggers and county clerk leads.

Fridays are follow up and make sure everything is set and be where it needs to be.

Keep in mind I do have an awesome processor and That will help the most with pipeline problems like you have.

I also use Nlyx.com they are worth checking into. They price my loans(subprime and A paper) Its accurate too. They set each mortgage company up because we all get different prices because of relationship and volume.you are able to price the scenario and import into your LOS

I also want to point out that If your doing all the paper work during the day that the early evening hours are very good times to cold call. It does pay off for anyone reading this. Many lead generation companies will set their dialers during these times.

I also use Gold calling. I voice broadcast in the AM because I want my calls to hit the answering machines just like I called them personally and it was a broadcast message. It takes no time costs very little and get inbound calls or live transfers.

Gold calling will solve your pipeline problem because you get a contact manager and if you are doing things similar to what I do it will save you a ton of time. I put all of my customers and farm into it. I also put my lenders , realtors , underwriters and service provider into it.

You get a call capture feature and your able to see who is calling and the whole file pops up before your eyes and you dont have to be searching for a note or the file itself.

Also you can follow up with a drip email function. The emails would be trickled out to your farm with a newsletter or announcment. Nice function to have becausse you can send it to you whole farm all the while your isp doesnt spam it.

Anyways Nylx, goldcalling, processor , many different ways to get business and have a great time management.

Loan officers need to identify if they are talking to money or not.* buyers or non buyers. Dont get me wrong, those non buyers will become buyers down the road so DONT HANG UP. find the issue and explain how you will be able to help them and when that will be. For example.... Credit repair will take two months it will cost you money but afterwards your score will be higher and we should be able to do the financing you need .In the mean while I will be watching for the best programs and will follow up with you then. I will get you into contact with the credit repair company right now. ok!

Now get off the phone.

This is an easy follow up with a pre-recorded message that you will send to them in 60 days with a voice broadcast,.



Get a hold of me if you would like to know more.

[Thills]

Mark,

I don't really have any issues bringing in the business. It is effectively managing the way that I process that business so that all the steps I currently have outlined in my system are met etc. I will pick your brain on Thursday.

Cheers,

Timothy Hills