Customer Success Story

Homeowners Financial Group close the gap between loan originators and borrowers

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Homeowners Financial Group

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  • Homeowners Financial Group USA, LLC
  • Scottsdale, AZ
  • $1.2B annual loan volume (2018)
  • ICE Mortgage Technology customer since 2015

Fully digital loan origination

Accessing Encompass from anywhere, on any device, allowed the Homeowners Financial team to take applications, pull credit, and present different loan scenarios to prospective borrowers in minutes.

42%

Increase in annual loan volumes

50%

Reduction in buyers' pre-qualification time

1 day

Reduction in application-to-funding cycle time

Homeowners Financial Group

Since its founding in 2004, Homeowners Financial Group has been committed to serving the needs of its borrowers, while maintaining a corporate culture focused on family, giving back, and active involvement in the communities it serves.

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"Consumer engagement is the key to turning leads into loans.”

Brandon Durham
Product Support Manager

Work on-the-go

Giving loan officers mobile access to Encompass made all the difference in the way Homeowners Financial group helps borrowers and supports loan officers. Brandon Durham, Product Support Manager said, “One of the capabilities that has been most widely adopted by our loan officers is the ability to instantly update product and pricing scenarios for loans directly from their phones,” Durham said. “In a volatile financial market, being able to price and lock a loan immediately to secure a borrower’s mortgage rate is critical. I can take a phone call at 2:10 p.m. and lock the loan at 2:11 p.m.” Homeowners Financial Group also took advantage of the capability to quickly identify and resolve incomplete borrower applications while on the go. Now, if a new loan application comes in through Encompass Consumer Connect®, the loan officer gets a notification, so he or she can respond to and prequalify that customer in the moment. “By accessing Encompass from anywhere, our loan officers can get the app, finish it, price it, and be first to the finish line,” Durham said. “In a lending environment where your ability to respond quickly to borrower applications is often a deciding factor on your ability to win the business, the Encompass platform’s ability to quickly act on new applications has given us a major competitive advantage.”

Improved LO quality of life

In addition to generating new business, having access to Encompass from anywhere also enables Homeowners Financial Group’s loan officers to more efficiently manage the loans they already have in the pipeline from their mobile device. “I had a loan officer who was at her daughter’s volleyball game, and a Realtor texted her, asking her the status of a file,” Durham said. “She pulled up Encompass while she was still sitting in the stands, took a screenshot from her phone, drew a circle around the milestone status and texted it back to the agent. So, not only has Encompass helped us from a revenue perspective, but it has also helped improve work/ life balance for our loan officers.” That capability enables Homeowners Financial Group to retain its top-tier talent, and has quickly emerged as one of Durham’s favorite loan officer recruiting tools. “In interviews, I often physically pull out my phone, log into Encompass, and hand the phone to our recruits so they can see that it is legitimately Encompass in their hands,” Durham said. “Showing potential loan officers that their primary tool to close loans is now mobile carries a huge amount of value.”

The Challenge

Find a fully digital loan origination solution that could enable their loan officers to deliver a better experience to borrowers, close loans quickly, and support a relationship-based culture.

The Solution

After giving their loan officers the ability to access Encompass from anywhere and on any device, the team was able to take applications, pull credit, and present different loan scenarios to prospective borrowers in minutes.

Benefits and Results

Since Homeowners Financial Group started accessing Encompass on any device, the organization has seen lifts in efficiency and loan volumes with: Reduced prequalification times, Increased loan volumes, Shortened loan cycle

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