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2 min read

Emerging Mortgage Tech Category: Database Retention Systems

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AI can drive your car.. do your homework, but how are mortgage originators and realtors utilizing AI? Artificial Intelligence (AI) is changing the way mortgage loan officers and realtors prospect for new deals by automating tedious tasks. Technology allows them to focus on the most important tasks, such as building relationships and closing deals, while AI handles the more mundane tasks.

One of the critical ways that mortgage lenders are using AI is through the use of Database Retention Systems (DRS). This software can analyze large amounts of data and identify potential clients within that originator or agent’s sphere of influence who are likely to be interested in buying or refinancing a home. This can save loan officers and realtors significant time and effort, as they no longer have to spend hours manually searching for opportunities in their CRM or contact database.

A DRS can also analyze market trends and provide realtors and originators with insights into the best neighborhoods and property types to target. This can help realtors to identify areas where demand is high and housing inventory is improving, enabling them to make smarter investments and grow their business.

Mortgage Industry Database Retention Systems

MonitorBase, founded in 2007, is the top Database Retention System in the mortgage industry.  MonitorBase brings the power of AI and Predictive Analytics to many top retail lenders, allowing them to compete with the big banks that have entire departments devoted to consumer data intelligence.  Database Retention Systems have been around for quite some time but are starting to take hold in the mortgage industry.  SalesBoomerang is another example of a DRS that is newer to the space. However, they don’t have the depth of analytics that MonitorBase has developed over the past 15 years.  Total Expert and Stikkum are starting to dabble in the DRS space, and more and more are popping up around the industry by the year.  I think it’s safe to say “DRS” is another acronym to add to the perfect mortgage tech stack: LOS, CRM, POS, PPE… and now DRS.

What problem does a Database Retention System solve?

Most lenders only retain an average of 18% of their business.  We all know that repeat business is the highest converting and cost-effective way to grow your business.  Mortgage originators and realtors know that they must continue marketing every month to fill their pipeline.  Most lead generation and marketing efforts create a one-time transaction with a client, and then they’re gone.  This makes it hard to grow revenue from year to year without doubling down on your marketing efforts and costs.  So how do you turn your business from a day-to-day job into an asset that continually produces income bigger than the year before?  Database Retention Systems can help loan officers and realtors find ready-to-buy clients economically and efficiently.  MonitorBase is committed to expanding and investing in the Database Retention System to help mortgage loan officers find loans in their contacts. The ups and downs of the market may impact the industry for some time, but people still need help within this market.  Every contact a loan officer has entered is an opportunity to help someone.  MonitorBase will help them do just that.  Every Contact Matters.  


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