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American Pacific Mortgage turned to tech in order to increase its borrower retention rate by 50%.
American Pacific Mortgage turned to customer relationship management and consumer engagement technology as the company faced a rapid influx of applications. Since doing so, the company was able to increase its borrower retention rate by 50%.
APM used the Total Expert CRM and customer engagement platform which offered real-time identification of refinance opportunities through integration with Sales Boomerang. Next, it triggered an automated communication that supports customers as they continue on with their refinance journey, according to a press release.
“Given the rapid influx of applications, there was no way our team could have handled it without automation,” said Michael Guidotti, vice president of integration and branch technology at American Pacific Mortgage.
“By simplifying the way loan officers communicated with their customers, APM leveraged intelligent automation to achieve a 50% increase in borrower retention rate from 2019 to 2020. From Q1 to Q4 2020, the lender also doubled refinance application processing and grew sales by nearly 60%,” according to a press release.
