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Stay Top of Mind, Even After You Close

Apr 25, 2022

loan officer checking on old client

You stay in close contact with your borrowers while you’re helping them prepare and during the processing of the loan. But what do you do to keep in their consciousness after you close?

Send Cards

During the loan process, you learn a lot about your borrowers. When they have birthdays. Possibly when they got married or took another big step in their lives. Take note of these important dates, either in a customer relationship manager (CRM) or a paper agenda. Then you can schedule time each month to send birthday and anniversary cards. The cards can be electronic or paper. Electronic may be a more environmentally conscious choice but runs the risk of getting lost in your borrowers’ inboxes. Paper can stand out but might be costly.

Celebrate Your Anniversaries

Don’t feel comfortable sending cards for personal events, such as birthdays and anniversaries? No problem. You and your borrowers have your own anniversary — the date you closed on their loan. You can celebrate this anniversary with a paper or e-card each year or at another increment that works for your business.

Ask for an Opt-In

Do you send a newsletter or any other email marketing? Make sure you ask your borrowers if you can add them to your mailing list before they leave the closing so you can keep in touch with them through your regular electronic marketing efforts.

Give Referrals

Periodically — perhaps as part of your email newsletter — make sure you’re letting your borrowers know about your referral partners. When you help them find a better home insurer, service professional, or some other useful referral, you’ll be providing ongoing value to your relationship. You’ll also help your referral partners remember why you’re such a great person to send their clients to when they are looking for a home loan.

Offer a Check-Up

When borrowers have been in a home for a few years, especially in an environment where values are rising quickly, they may need to refinance or make other changes. You can offer to do a mortgage check-up through an email, phone call, or mailed letter.

In that check-up, compare their rates with the current rates. Check to see if they still need to pay primary mortgage insurance or if they should ask their borrower to remove that fee based on their growing equity. Additionally, let them know how much equity they have if they need to look for a home equity loan or line of credit to fund improvements or other essential expenses. This task can be a great way to bring in returning business even when borrowers don’t plan to move.

Why do you want to go to this effort? When your borrowers remember you, they are more likely to come back to you when they need to refinance or are looking to borrow for a new home. They’ll also be more likely to refer you to their friends and family. The better your follow-up, the more they’ll remember how great it was working with you on their loans.