Ascent App Helps Loan Officers to Close Loans and Build Relationships

Rate volatility, new laws, regulations, loan program changes, and lender consolidations have all changed the layout of our industry over the last decade and it doesn’t appear that is going to be changing anytime soon. In the past few years many industry veterans have stepped away from the industry and those who remain have been forced to be nimble with their business models and strategies. One positive thing that has arisen in recent years is the availability of more robust digital loan applications to help the loan officers who have held on through the changes.

Some loan officers still feel resistance to adopt the use of digital apps — in fear of diminishing the customer connections, or in some cases virtually eliminating the role of a loan officer.  However. if integrated into your business correctly, apps like the Ascent App with Summit Mortgage, can revolutionize your business by allowing a reprioritization of your time. It’s important to work with a company that wants to use technology to help you improve your business – not replace you!

Customer loyalty and retention will always be built through personal connections and time spent, no app can take the place of personal, human touch. However, when a loan officer makes an initial connection with someone and then supplies them the Ascent App, allowing the customer to complete the bones of the application it allows the time the loan officer spends with them to be more directed and useful. A customer filling out their personal data ensures more accuracy on small details, it also allows the customer to do so at a time that is convenient to them and gives the loan officer the chance to review the application and prepare recommendations for the client based on real information vs. just assumed data.

At Summit Mortgage, we see things from the perspective of our personal loan officers. We understand the critical role a personal loan officer plays in the success of a customer’s home loan journey. So when developing our Ascent App, we built it to augment the talents of our personal loan officers and enable them to provide better assistance, information and a streamlined process for customers.

Here’s how Summit Mortgage reimagined the digital home loan application with our Ascent App.

The Relationship Begins With the Home Loan Officer, Not the Home Loan App

The Ascent App from Summit Mortgage doesn’t start with a download, it begins with one of our personal loan officers. In fact, a customer can’t even use our Ascent App until they’ve formed a relationship with a Summit Mortgage loan officer. We see the app as a tool to connect you with the customer, not replace your connection with them.

Here’s how the Ascent App works. You form a relationship with a customer. Then you send them a special download link to the Ascent App. When the customer downloads the Ascent App, it’s automatically linked to your profile and system. This method makes all the difference because it puts you at the center of a customer’s home loan application process, it keeps your contact information at their fingertips.

Guiding Customers Through the Application Process

The Ascent App provides customers with a step-by-step process that makes applying for a mortgage easy. It even has the ability for them to securely scan and upload documents, link to realtors and more. But what’s most unique is that the Ascent App is connected to your professional contact information.

At any point during the application process, a customer can choose to text, call or email you with their questions. If you can’t reply right away, that’s okay. Once a customer enters application information into the Ascent App, it stays in there. If a customer needs an answer, they can ask you, close the app, wait for your reply and then re-open the application later without losing any progress.

Summit Mortgage built the Ascent App this way to respect the role that a trusted loan officer plays in the borrowing and refinancing process. You alone are the point of contact, and your customers will never be directed into an anonymous call center, chat or referred to some help desk.

Fewer Mistakes Will Mean Faster Loan Processing

When you use the Ascent App, home loan application mistakes are minimized.

• Customers can’t miss filling in a page or field
• Data is easier to pull and verify, with opportunities for the customer to link their bank accounts directly to the application
• When documents are securely scanned the customer is prompted to make sure the image complies with required standards
• Loan officers have the ability to review a customer’s application remotely to double-check it with them prior to submission

All of these small factors can lead to big-time savings. By cutting down on errors and allowing the Summit Mortgage personal loan officer to catch mistakes sooner, the Ascent App reduces follow-up calls, resubmissions and having to completely redo a form. It’s true, digital automation accelerates mortgage closing.

The Ascent App Works for Every Type of Customer

Home loan customers often have very different types of personalities and comfort levels.

Some love digital tools and anything that empowers them to complete a mortgage application on their own terms. Others have yet to embrace using websites, apps and digital tools. Then there are those that fall somewhere in between, appreciating the convenience of using a digital application process, but nervous about doing it on their own.

No matter how you’d describe your customers, the Ascent App is flexible enough to fit their style.

Customers can complete the application on their own, do it with partial assistance from you, work with you over the phone or stop into your office and have you complete the application for them.

On your end, you’ll always have full visibility into their application so you can see exactly what they’ve entered, how much they have completed and even enter information on their behalf if needed.

Join Summit Mortgage and Build a Closer Relationship With Your Customers

The Ascent App is a powerful tool, not only for applying for a mortgage but for creating a stronger connection between you, the personal loan officer and your customer as well as referral partners. The Ascent App is an invaluable resource that’s available to customers when they need it, which means you’re always an available tool.

Buying or refinancing a home can be a nerve-wracking time for many customers. When you have them use the Ascent App you give them the tools, information and a safety net that builds confidence. In the app they will have access to calculators and a learning section as well which will help them feel even more supported through the tool you provded! If you’re interested in using the Ascent App and becoming part of the Summit Mortgage Corporation team, reach out to us. Our door is always open to anyone who wants to help guide a customer home.