What’s The Difference Between a Mortgage POS and a CRM?


When it comes to your mortgage team, you want to maximize their earning potential. The same ring true about your mortgage POS and CRM systems. By understanding their purpose and functions, you can know how to make them work for you. What’s more, you can also discover how to connect the platforms to create a seamless integration that maximizes your entire organization’s earning potential. 

A mortgage POS is a transactional management system with a unified database that consolidates structured and unstructured data from multiple sources into a single repository allowing businesses to organize and build a profile around an individual borrower. The POS’s ability to unify user data into a single record gives mortgage teams the ability to form a 360-degree view of the borrower and their loan and process the application within a centralized, secure hub. 

A CRM’s primary objective is to build relationships with borrowers and support the sales cycle. Businesses can collect and store customer and prospect information within the CRM, track and score leads, forecast revenue potential, and build a prospect profile to support marketing efforts. 

When comparison shopping, you may notice that there are a few areas where their functions overlap. It’s worth noting that overlap doesn’t imply redundancy nor that one platform can effectively do the job of the other because, ultimately, each software serves a different purpose in your mortgage business: 

  • CRM is designed to manage leads and current customers.
  • Mortgage POS is intended to manage the borrower and their loan.

As a stand-alone product, an intelligently designed mortgage POS or CRM platform will automate the most critical areas of your business, helping to increase productivity and profitability. But when there’s deep integration between the two platforms, the true power of mortgage tech is unleashed. 

Benefits of POS-CRM software integration include:

  • Quick, Bilateral Data Capture: Borrower data captured at intake on the POS-side of the transaction is shared with the CRM system and vice versa. This eliminates manual data entry and helps to keep accurate records for each lead and borrower throughout your organization.
  • Fund More Loans and Increase Borrower Retention: With streamlined and reliable information easily accessible through both platforms, loan volume increases, and funding time is accelerated. The result is an immensely improved borrower’s journey that boosts loyalty. 
  • Improved Lead Segmentation: Businesses can categorize leads captured through their POS into target groups in the CRM to customize their marketing strategy.
  • Better Holistic Experience For All: POS-CRM integration provides a better experience for borrowers and professionals alike. Not only do the mortgage team stakeholders have access to CRM data in the POS, but your office admins will have access to POS data on their CRM! This creates an excellent customer experience with competitive longevity.

Businesses looking to differentiate themselves through personalized consumer experiences need to implement mortgage technology to create a 360-degree view of the borrower across each platform they interact with. By understanding what a mortgage POS and CRM do and how they work together, you can deploy a digital mortgage transformation that supports your workflow and business growth.  

LOANZIFY: The Mortgage POS Solution For The Modern Lender


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