Effective lead sourcing and management are on tap as the industry moves back into purchase
LINCOLN, Neb.— March 7, 2014 — Don Kracl, vice president of mortgage products for Zillow, has been selected by the Mortgage Bankers Association to speak at the organization’s upcoming Technology in Mortgage Banking conference to be held in Los Angeles, Calif., March 18-21. Kracl will speak about effective mortgage loan lead sourcing and management as the industry moves back into a purchase money lending environment.
“Lenders who have built successful businesses based on refinance demand on the part of consumers are in the process of reinventing themselves now,” said Kracl. “Most lenders are not adequately prepared to manage the leads they buy and their loan officers are even less prepared. In this increasingly competitive marketplace, institutions that can’t do a better job of converting leads into closed loans will not survive.”
Kracl spoke on this topic late last year as a keynote speaker for the SourceMedia Mortgage Technology Conference in Ft. Lauderdale, Fla. Kracl, who says he has never been a “doom and gloom” speaker, warned attendees at that show that if they do not find a way to improve the experience for mortgage seekers before they reach the application stage, their costs will skyrocket and they will face more compliance risk as negatively impacted borrowers report them to federal regulators. Unfortunately, most lenders are not yet accustomed to considering the borrower’s experience before the application is received.
“From the very first time the consumer comes in contact with the lender, the industry must take an active part in cultivating that relationship and delivering a satisfying experience to the prospective borrower,” Kracl said.
Kracl doesn’t promote specific solutions during his addresses, even though his company’s flagship technology, Marksman, has been shown to help lenders nurture and close more of the loans they buy and improve customer satisfaction. In Los Angeles, Kracl will speak about the issue as part of a panel of experts.
About Mortech, a Zillow business
Lincoln, Neb.-based Mortech was founded in 1987 to provide product and pricing engine solutions, including best execution pricing, AllRegs® eligibility, detailed profit structures and best execution PMI, all for an extensive list of investors; lead management solutions, including a sophisticated sales dashboard, ratetracker, automated lead distribution and email marketing; and lock desk solutions, including lock pipeline management, custom reporting, LO compensation, LOS integration and the ability to lock directly with investors. Thousands of correspondent lenders, bankers, credit unions and smaller community lenders use Mortech® tools. In addition, Mortech serves up mortgage product and pricing information to some of the top real estate and banking websites, including Zillow, Bankrate® and LendingTree®. Mortech has been recognized by Mortgage Technology magazine as a Top 50 Service Provider every year since 2010. The company won a 2010 Mortgage Technology magazine Synergy Award with AllRegs. In 2012, Mortech was acquired by leading real estate information marketplace Zillow, Inc. To learn more about Mortech visit http://www.mortech.com.
Zillow, Marksman and Mortech are registered trademarks of Zillow, Inc.
AllRegs is a registered trademark of Mortgage Resource Center, Inc. Bankrate is a registered trademark of Bankrate, Inc. LendingTree is a registered trademark of LendingTree, LLC.