How Mortgage Lenders Can Understand Social Media Strategies of Realtors
With interest rates rising and the refi boom declining, more of our clients are shifting their focus to the purchase market. Thus, I am answering more questions about marketing strategies to build relationships with realtors: “Does SoftVu have any brilliant ideas on how my mortgage company (division) can develop better relationships with realtors? Does SoftVu have any email campaigns...
Read MoreLendingTree Acquisition
Congrats to LendingTree (HomeLoanCenter.com) for getting the deal done with Discover. The transaction between the parties resembles a deal done back in late 2004 between eSmartloan.com and Capital One. The driving factor for each of these acquisitions is similar: the .com lender needed a big customer base to work instead of purchasing expensive leads from aggregators; and the big...
Read MoreWhy aren’t mortgage lenders trying to sell to their previous customers?
Our product and client management teams have been working diligently on a customer retention marketing program for our mortgage clients. Their efforts are backed by several years of testing, deep analytics, and industry facts on the subject. Our general research, outside of our testing and campaign results, should be nothing new to anyone in the industry: Only 25% of borrowers return to the same...
Read MoreLoan Officer Compensation?
I ran across an article that provides exceptional insight into the current mortgage market situation. The author, Mr. William Black, is an associate professor of economics and law at the University of Missouri-Kansas City as well as an author. His experiences provide an interesting look into the mortgage industry’s current situation, one that I tend to agree with. To summarize his case:...
Read MoreThanksgiving Thoughts
With Thanksgiving fast approaching, I wanted to take a moment to wish all of our clients and friends in the industry a very Happy Holiday! The SoftVu offices are closed tomorrow and Friday so our staff can be with family and friends for Thanksgiving. But you know us; there will be at least a little checking of emails and voice messages during that time. As I reflect back on the past year, I come...
Read MoreMBA Expo Wrap Up
The MBA 97th Annual Convention & Expo wrapped up last week, and what a week it was! My goals for attending the show were pretty straightforward: Comprehend the latest trends in the mortgage industry Meet with existing and potential clients as well as business partners Support the Mortech + SoftVu joint service offering Here’s a quick highlight of my take a ways from the show: Loan...
Read MoreSee You at the Annual MBA Expo
It’s been incredibly busy here at SoftVu. We recently announced two new executive appointments. If you missed the story, you can read it here. Both appointments are directed at product development, because I am convinced that the online lending industry is about to experience a few more drastic changes, such as loan officer compensation and the inevitable rate increases. My two new executives...
Read MoreWelcome to my Blog
Welcome to my blog. My name is Tim Donnelly and I am the Founder and CEO of SoftVu. SoftVu was founded in 1999 on the principle that were going to help companies streamline business processes using enhanced forms of communication. Today we are known as a marketing automation solutions provider and we have a primary focus on the financial services industry and in particular Internet...
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