Best Productivity Tools For Mortgage Brokers in 2024

Are you a mortgage broker looking for tools to help you succeed in your business? Let us point you in the right direction with the perfect solutions to help you excel!

?Mortgage brokers deal with many challenges daily, from handling clients with different financial needs to staying up-to-date with changing rules and market trends. They must understand complex financial products, manage paperwork, and meet deadlines, all while keeping good relationships with lenders and clients. Balancing these demands takes not only skill but also the ability to stay organized and efficient in a busy and competitive field.

To do well in these tasks, using productivity tools that make your work easier is essential. Below, you’ll find a list of the best tools, software, and apps for mortgage brokers. These are designed to help you get more done in less time and provide excellent service to your clients.

Workflow and Team Management

To begin with, BrokerEngine stands out as workflow and automation software tailored specifically for mortgage brokers. This tool helps broking teams simplify their processes, manage pipelines efficiently, and deliver a smooth customer experience on a larger scale. Moreover, it includes features like automated task assignments, status tracking, and integration with other key tools.

In addition to BrokerEngine, mortgage brokers can benefit from general workflow management apps such as Trello, Pipedrive, Asana, and Monday. Trello offers visual task boards that enhance organization, while Pipedrive focuses on managing sales pipelines. Asana excels at tracking projects, and Monday is renowned for its customizable workflows. Together, these tools empower brokers to manage leads, track deal stages, and ensure timely follow-ups.

Broker Utilities

Next, Quickli is a lender serviceability app that stands out for its speed and accuracy. It allows brokers to quickly assess borrower serviceability across different lenders, saving time and minimizing errors during pre-qualification. Additionally, Sherlok offers a platform for repricing and managing trail books, helping brokers retain clients by preventing trail runoff. Sherlok automatically monitors client rates and alerts brokers when a better deal becomes available, thus maintaining client loyalty.

For secure and compliant remote Verification of Identity (VOI) processes, brokers can utilize ID verification services like IDYou, ZipID, and MaxID. These tools enable brokers to verify client identities without requiring in-person meetings. Furthermore, Track My Trail provides detailed insights into a broker’s trail book, covering client gains and losses, trail distribution, profitability, lender relationships, and performance metrics. With this information, brokers can make informed decisions to enhance their business strategies.

Document Collection & Management

Moving forward, FinanceVault, part of the BrokerEngine suite, offers a secure platform for mortgage brokers to collect and manage client documents. It features 2-Factor Authentication, TFN redaction, automatic file renaming, and handling requests for missing information. Additionally, FileInvite simplifies document requests from clients by providing reminders and templates that sync with cloud storage, ensuring timely submission and proper organization of documents.

Moreover, Ezidox simplifies the paperwork process by helping brokers collect documents from clients for submission to lenders or aggregators, reducing the usual back-and-forth. BrokerPad also provides a platform specifically for mortgage brokers, designed for efficient fact-finding and document collection, and integrates with other tools for a seamless client onboarding experience.

Bank Statement Retrieval & Expense Analysis

For retrieving bank statement data securely and quickly, illion BankStatements offers a reliable solution. This tool automates the process, ensures accuracy, and saves brokers valuable time. Additionally, CashDeck enhances the process by not only retrieving bank statements but also analyzing expenses. By automating the collection and review of client financial data, brokers can make swift, informed decisions.

File Storage

When it comes to file storage, Dropbox remains a trusted cloud service known for its excellent syncing and backup features. It allows brokers to store, share, and access documents securely from any device. If you prefer Google tools, Google Drive offers robust cloud storage that integrates seamlessly with other Google Workspace apps, facilitating document management and collaboration. OneDrive serves as an excellent option for those using Microsoft products, providing secure cloud storage and smooth integration with Microsoft Office apps for easy document storage and sharing.

e-Signatures

For electronic signatures, Docusign is widely recognized and accepted by many lenders. It offers a secure and legally binding way to obtain signatures electronically, streamlining the signing process. Alternatively, Dropbox Sign (previously HelloSign) integrates well with Dropbox and features a user-friendly interface along with strong security features, making it a dependable option for electronic signatures. Annature, an Australian e-signature service, provides good pricing and reliable service specifically designed for mortgage brokers, ensuring secure and compliant electronic document signing.

PDF Management

In the realm of PDF management, Adobe Acrobat stands out as a top-tier tool with extensive features for creating, editing, and signing PDF documents, albeit at a higher cost. On the other hand, Nitro PDF offers a popular alternative for PC users, with tools for editing, redacting sensitive information, and more, all within an easy-to-use interface. For Mac users, PDF Expert delivers a fast and powerful PDF editor, known for its sleek design and excellent editing capabilities.

Calendar Management

To enhance calendar management, Calendly simplifies meeting scheduling for prospects and clients, eliminating the need for back-and-forth emails. It integrates with various calendar systems, automates scheduling, and reduces unnecessary communication. Similarly, Schedule Once offers a robust calendar booking app with strong customization options, capable of handling nearly any booking situation and allowing you to schedule meetings based on your preferences.

Telephony

For telephony needs, softphone services like DialPad and Aircall provide all the features of a full telephone system, including call routing, voicemail, and team collaboration tools, but at a lower cost. Additionally, TryCall offers an automated voice messaging service that adds a personal touch to broker communications. By allowing for automated yet personalized voice messages, TryCall enhances client engagement.

Email Productivity

To boost email productivity, Superhuman serves as an ideal email client for Google Workspace users who manage a high volume of emails. It offers features such as keyboard shortcuts, email tracking, and advanced search to improve efficiency. Furthermore, SaneBox helps manage email overload by automatically filtering and prioritizing emails, allowing you to focus on what matters most. Black Pearl Mail simplifies email signature management, testing, and tracking across your team, ensuring consistent and professional communication. Simply File enhances email organization within your Outlook inbox, improving email management and collaboration with your team.

Computer Utilities

In terms of computer utilities, Jumpcut for Mac and Ditto Clipboard Manager for PC are clipboard apps that enable you to access multiple recent text snippets, saving time by allowing quick pasting of commonly used text. Additionally, Text Expander for Mac and Phrase Express for PC insert frequently used text with shortcuts, speeding up repetitive typing tasks. LastPass and 1Password serve as secure password managers that use one master password to handle all other passwords, facilitating safe password sharing with team members.

For Mac users, Alfred combines search and automation with custom workflows, app launching, and clipboard history. Hazel for Mac and File Juggler for PC automate routine tasks like filing, renaming, and organizing files, reducing clutter and saving time. Meanwhile, Timely (Cloud) and Timing App track time spent on tasks, providing insights to help you work more efficiently. For capturing and editing screenshots, Snagit offers robust features for both PC and Mac, while ScreenFloat presents a budget-friendly option for Mac users, allowing screenshots to remain visible for easy reference.

Focus & Concentration

To stay focused, News Feed Eradicator is a Chrome plugin that blocks distracting social media content while still allowing access to important features like Facebook Groups. Focus@Will offers music specifically designed to enhance concentration and productivity, with playlists that keep you on task. Additionally, Momentum is a Chrome plugin that transforms your home tab into a productivity tool, featuring motivational quotes, to-do lists, and beautiful backgrounds to inspire you throughout the day.

Video Conferencing / Collaboration

For video conferencing and collaboration, Loom enables you to create screen recordings or live videos for tasks such as responding to sales leads or providing team feedback. It’s a versatile tool for creating quick, engaging videos. Additionally, Zoom and Teams allow you to conduct face-to-face meetings with clients from your desk, offering robust video conferencing features that make remote work smooth and effective.

Conclusion

While the tools above will definitely improve your productivity, Proowrx takes your mortgage broking to the next level. It works smoothly with the tools you already use and offers advanced analytics, client insights, and better automation features. This helps you simplify operations, manage client relationships more effectively, and stay ahead of market trends. Don’t miss the chance to upgrade your mortgage broking practice with the latest technology.

For more tips and solutions, check out our blog or schedule a discovery call today!