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Oct 12, 2018

On this episode of Loan Officer Strategy Sessions, Dave Savage shares his extensive expertise. Dave is the founder of Mortgage Coach, a mortgage presentation software. Dave got started in the mortgage business in the 80’s but was always fascinated by technology. He was an early adopter of CRM’s and founded Mortgage Coach in 1997 to help make a difference in the lending process for his own clients. On this episode, Andrew and Dave discuss the future of the mortgage industry and what that means for loan officers. If you want to know how to stay relevant in the changing market you’ll definitely want to listen to this episode.

What is the essence of the Mortgage Coach software?

Typically a loan officer gives a worksheet overview to their clients to show them how the mortgage works. Mortgage Coach gives the LO more details so that they can help translate all the mortgage-speak to layman’s terms. With Mortgage Coach, the LO can help the client compare different costs from the long-term and short-term perspectives. This gives the LO an opportunity to consider all the options for their clients. The loan officer then is able to provide not just information, but advice. Listen to this episode to hear how Mortgage Coach can improve your skills and take you from being a loan officer to a loan advisor.

What’s next in the future of mortgages?

There’s so much competition in the mortgage industry these days. There are big banks, credit unions, small lenders, even real estate companies and Costco have joined in the mix. This crowded space makes standing out from the crowd a challenge. There’s no way to win against the transactional giants, the only way to win clients is through a relational experience. Differentiating yourself against everyone else begins with good advice. Listen to this episode to hear important strategies on how to make yourself stand out in the crowd.

How can LO’s make the mortgage process easier for the client?

The mortgage process can be lengthy and cumbersome. There is so much friction even on the easiest of mortgages. Finding a way to make the loan process easier for the client is one way to distinguish yourself to the client and win referrals. The loan officer and team that can deliver the most value with a simple process will win the clients. It is important to streamline your systems and processes to make the entire ordeal as painless as possible. Listen to this episode to hear strategies on how you can become the loan advisor that your client is really looking for.

How can local LO’s compete with the mortgage giants?

Nowadays the consumer is not waiting to get preapproved until after they find a house to buy. They are beginning the entire househunting process with loan preapproval. This leaves loan officers with an opportunity to stand out from the crowd. Loan officers that embrace technology and continue their relationships with past clients will be the first to come to mind when these clients begin to look for a mortgage. Listen to this episode to hear how to stand out from the mortgage giants.

Topics From This Episode

  • [3:22] Dave tells about the origins of Mortgage Coach
  • [9:04] What is the essence of Mortgage Coach?
  • [14:20] The future of mortgages
  • [15:10] Dave’s key takeaways from the Digital Mortgage Conference
  • [21:48] How can we make the process easier for the client?
  • [29:02] The consumer is not waiting to get preapproved
  • [33:45] How can local LO’s compete with the mortgage giants?

Resources & People Mentioned

Connect with Dave Savage

Connect With Andrew Soss

  • Asoss (at)

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