Learn More About Mortgage Secret Shopping

The Experts in Mortgage Secret Shopping

With over 30 years of mortgage and secret shopper experience, we are experts in discretely conducting customer interaction assessments to ensure your team is performing at the highest level.

The Problem

Mortgage lenders have limited insight into customer interactions leading to:

Compliance Risks:
From NMLS disclosure, to Fair Lending Concerns, to handling of client information. There are a myriad of compliance concerns that need to be properly handled throughout the mortgage process. Without training and constant testing, it is tough to know what your team is doing, especially with an increasing amount of staff working remotely.

Operational Issues:
Loan Officers can be setting inaccurate expectations regarding costs, timelines, and overall qualification associated with the mortgage process. This can lead to more operational issues in having to rush loans through the pipeline or dissatisfied customers who are promised guaranteed approval, lower prices, and faster closing times.

Poor Customer Experience:
The customer experience varies wildly across organizations. Most customer surveys only capture those borrowers who complete the entire mortgage process and tend to be lagging indicators captured months after closing. Insight into the customers who “fall out” of the pipeline before going through with a transaction is exceedingly valuable to improving company profitability and processes.

Lack of Insight in Competition:
Many companies find themselves flying blind, not knowing what competitors are saying about your organization or methods they are using to gain a competitive advantage.


The Benefits of Secret Shopping

Proactively Identify Compliance Issues:

Through strategic testing, secret shopping allows you to identify problematic behaviors across your team and respond with the proper training. This lets you identify potential compliance violations are ECOA, HDMA, RESPA, etc, before they become larger problems.

Better Alignment of Customer Expectations:

Clearer customer expectations around costs and timelines lead to happier customers and a smoother pipeline for your operations team.

Improved Fall Out Rates:

By standardizing and testing your customer interactions, you can increase the overall effectiveness of your staff’s time and company-wide profitability.

Regain Competitive Advantage:

By understanding what your competition is doing, you can proactively adjust your processes to stay competitive in your market.


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