Velocify has announced that the number of overall mortgage users of the company's sales acceleration platform has increased by 25 percent since the beginning of 2016, amid evidence that growing numbers of lenders are investing in sales technology.
The company's growth coincides with the results of a survey of 500 mortgage professionals conducted earlier this year. The survey, titled "Growth in a Changing Mortgage Market," found lenders that made greater investments in marketing and sales technology, including the type of lead management, sales acceleration, referral management, and marketing automation found in the Velocify platform, were more likely to experience high growth.
"Mortgage organizations that are leveraging Velocify are out-selling their peers and taking advantage of new opportunities as market dynamics shift," said Chris Backe, Velocify's director of financial services. "Our customer, First Direct Lending, is a prime example. In the two and a half years since founding their company and investing in Velocify from the start, they have grown from five loan officers to more than a 100 loan officers licensed in 26 states."
According to First Direct Lending Vice President of Marketing Mike Eshelman, the company not only identified a great niche, targeting hard-to-fund loans, they are executing their strategy extremely efficiently leveraging Velocify. Velocify has enabled First Direct Lending to grow, while nimbly adapting to changing market conditions.
"Since day one, we've been focused on growth opportunities within our niche," Eshelman said. "As we've expanded, Velocify has been with us every step of the way, from helping us make resource decisions related to demand in new states, to enabling us to be more agile as the market shifts from refinance to purchase."
Velocify's latest offering, Velocify LoanEngage, brings together automated marketing, lead management, and referral partner management features into a single platform, bridging the gap most retail lenders experience between their marketing and sales efforts, while enhancing visibility, compliance, and productivity in the mortgage process.
"As the purchase market heats up, mortgage lenders want to put more people in homes and give borrowers a great mortgage experience. Yet today's retail lenders have a ton of potential revenue that is locked down by inefficiency," said Backe. "With Velocify LoanEngage, we are truly transforming sales and marketing operations within mortgage organizations, helping our customers tap into unrealized revenue."
