March 22, 2023 in Thought leadership
Blend Close: Make the last impression a lasting impression
Provide a first-class close experience that helps you gain recognition and referrals.
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Closing on a mortgage is arguably one of the most important steps of the process — both for the lender and the borrower. It’s the step that borrowers remember the most. And because of this, you must provide a closing experience that’s personal, efficient, and fast so your customers and partners remember you even after they close.
Check out how a successful closing solution can help benefit you and your customers in the long run.
Build lifelong relationships
When you’re able to spend the time getting to know your customers, giving them tailored and sound advice, and are able to personally guide them through the mortgage process from application to close, borrowers aren’t going to remember the technology they used during their experience. They’re going to remember you. However, you need the time to create and build these relationships, and you can’t do that when you’re spending more time than needed on tasks that could otherwise be done for you with technology.
Automating certain steps with Blend Close to minimize signing errors and missing documents, signatures, or dates helps you spend more time on your customers. For example, you can physically go to closings or send a personal closing gift, such as engraved cutting boards or even some home essentials.
Create cross-sell opportunities
The better the lasting impression you give to your borrowers, the more likely they are to come back to you with other financial services. And with the detailed, informative data you already have from their first transaction, you can better guide them to products that apply to your borrowers’ needs.
As the close process can inevitably set you apart from the competition, it’s important to provide an experience that your borrowers will want to repeat if they need to refinance, buy another home, or even look for a loan to help renovate their new kitchen. They’ll turn to you first if they know you can give them the same customer service they experienced the first time. By proactively delivering relevant solutions to your borrowers, you can build invaluable trust, and they can see you as their go-to lender for years to come.
Increase engagement and decrease abandonment
Ensuring a smooth, seamless closing is one of the most important aspects to implement in your mortgage experience. When your closing process (and mortgage process as a whole) is on the same platform as where they started, borrowers are more likely to be engaged and motivated to continue their process. For example, if signing a document is as easy as clicking a link, you’ll get that signature sooner than if the process was on a different platform.
Lenders who have implemented Blend Close have experienced high closing rates. In fact, Blend has a 93% average eClose completion rate across all customers. Complex, unclear processes on different channels make it difficult to keep your borrowers’ attention. If your experience is disjointed, it’s likely they’ll put off important tasks or forget about them altogether.
Gain referrals
Because lenders often get their business from referrals and word of mouth, it’s essential to take advantage of the last chance you have to make a strong, positive impression — the closing process.
When your borrowers are satisfied with your services, they’ll be more inclined to sing praises to their realtor who will, in turn, recommend you to other potential customers. In addition, settlement agents who have a positive experience with you and your platform present another opportunity to gain referrals. With Blend’s Settlement Agent Workspace, you can quickly onboard agents, improve document management, and arm them with the ability to view upcoming closings and review closing instructions all in one home.
Elevate your close experience
With the right technology partner, you can provide the close experience that your borrowers deserve. An easy, seamless, and quick close is necessary to leave a positive, lasting impression. At Blend, we’re dedicated to solving closing challenges and evolving with our customers’ (and their customers’) needs. And with our closing stack, you can expect a customer-first experience that ensures clear, smooth communication and accelerated operations.
Want to deliver a closing experience customers need?
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