Chat bot

How AI Technology Can Reshape the Future of the Mortgage Industry

If you have countless leads coming in through multiple channels like your website, social media, email marketing etc., it can easily become an overwhelming proposition. That may be a good problem to solve, but it opens you up to human error, or you end up missing some of those leads because you can’t manage them all at the same time.

This is where artificial intelligence (AI) could become a game-changer for the mortgage industry. In fact, over the next decade or so, it’s very likely that intelligent technologies will touch every aspect of the lending and real estate processes. Here are some ways that AI technology can help mortgage brokers with their lead management.

1. Faster Response Time

According to recent studies, customers who receive a text message from businesses feel frustrated when they don’t receive any more response to those businesses who texted them. This means that you need to be able to respond quickly if you want to take advantage of your lead. An AI platform can help you respond faster than any other tool, so your customers will know you’re really sincere and determined to work with them.

2. Integration with Loan Tools

The potential benefits of AI for the mortgage industry are far-reaching. In fact, many loan solutions and applications in development already have AI integrated into them, even if they are still in the early stages of development. AI-powered tools can help loan officers do more and focus their efforts on more complex, value-adding work. Externally, AI and machine learning will help create streamlined, personalised experiences across the customer journey.

3. Qualifying Leads 24/7

Local referral-based mortgage brokers need to automate everything they can, which requires you to use all the tools you have at your disposal to accommodate all your potential customers. You need to utilise your mortgage broker CRM tools to improve the quality of your advice and customer experience. By automating lead qualifying, you don’t have to spend as much time doing all the work manually. Your lead qualifying tool can run round-the-clock and still have the time to relax and take some time off during the weekends.

4. Generating More Warm Leads

Generating leads is always welcome for your business. However, if those leads turn out to be cold as ice, meaning they’re not ready to engage with us, it can feel a little discouraging. This could lead to a lot of turnovers as they struggle to keep up with all the leads that are more likely to become futile attempts. Your AI-powered platform can easily collect incoming leads in one central app, allowing you to focus on warm leads and even bringing cold leads back to life. You’re saving time and even the sanity of your agents and brokers.

5. Continuous Nurturing

Just because some of your leads don’t pan out and continue with their mortgage application, that doesn’t mean you should give up on them. Many leads actually don’t convert until the second, third, or even 12th attempt of reaching out to them. This just means that you still need to put some effort into nurturing those cold leads, even if it takes an entire year before you can convince them to apply for a mortgage.

Lead nurturing is best achieved by sending the right offer at the perfect opportunity. Using AI controls that process for you, allowing you to follow up with special offers, update them with new rates, and determining if they’re finally ready to finance a new home.


The sky’s the limit when it comes to benefits brought by AI technologies to many fast-growing organisations, and that includes the mortgage industry. Through the simplicity and efficiency of AI, you can make your existing tools a lot more powerful to aid you in your lead management efforts.

If you need an intuitive and well-designed platform to help you with your clients, Effi is here to help. Effi uses AI to offer a new sales experience and more meaningful engagements with clients. Try one of the smartest mortgage broker tools in the market to grow your business. Start your 14-day trial today!