How to Use a Contact Center Effectively to Originate Loans

How to Use a Contact Center Effectively to Originate Loans


Reverse mortgages are perceived as one of the most complex and unique financial products, which is why many borrowers find it stressful to acquire them. Marketers traditionally had face-to-face meetings with clients and guided them through the lengthy loan origination process.

However, savvy reverse lenders are effectively using call center personnel to originate these loans.

For such in-house loan originators, getting clients to sign on depends on their ability to develop connections and gain trust quickly. However, lenders should perform due diligence and weigh the projected return on investment before implementing a call center approach to generating loans. Lenders looking to leverage a contact center approach to mortgage originations successfully should keep the following tips in mind.

Identify the problem

When an individual starts to show interest in a reverse mortgage product, there is usually an underlying problem that precipitated such interest, and the lender must solve that problem. It’s important to identify the problem first. It could be health issues, loss of job or primary source of income, or the death of a spouse.

To successfully originate loans from potential clients through the contact center approach to mortgage originations, loan officers must be good and empathetic listeners. Once they identify the problem, they can leverage their expertise and guide the client in choosing the product that best fits the situation.

Anticipate questions

On average, customers have approximately 10-15 questions when it comes to loan originations. Loan officers who expertly answer these questions rapidly build trust and instant credibility with clients. As such, lenders should anticipate the questions that borrowers may have and come up with responses that are concise and clear.

Get personal

For conversations to be genuine and personal, they shouldn’t just focus on business dealings alone. To build rapport with clients, it’s a good idea to take a break from all the finance talk and connect. This means getting personal with clients and learning about their day-to-day lives and interests.

Loan officers should ask questions to find out if they’re college football fans, cat lovers, soccer fans or if they like to play the piano or go fishing or backpacking. Such personal information can be great for building connections and common points of interest. It’s also a good idea for lenders to share information about themselves. This makes for more interesting, engaging and meaningful conversations between clients and loan officers.

Tailor the conversation

It’s essential that loan officers do not use a script or a one-size-fits-all approach when communicating with leads. Since clients are different and their situations are unique, it’s best to tailor the conversation to their particular perspective. Loan officers should try to understand the persons at the other end of the line and alter their approach and tone based on their take on the client’s personality and needs.

Be sensitive

Since finances is an intimate and touchy subject for many, loan officers must be extra sensitive when speaking with potential borrowers. Drawing out customers over the phone and getting them to share their story requires a delicate touch. As such, loan officers should project sincerity, confidence and an air of honesty in all their interactions with clients. Before engaging customers on a sensitive topic, it’s a good idea to ask for permission. This helps prevents awkward situations during the conversation.


Although taking a contact center approach to mortgage originations can yield several benefits (including higher-quality leads, more customers and increased revenue), lenders should perform due diligence before embarking on such a project. They should factor in expenses with regards to infrastructure and staffing and weigh the expected benefits against these costs. They should also include leads and other marketing expenses when calculating the value of operating a consumer-direct call center.

One bonus tip that goes without saying: When using a contact center approach to mortgage originations you need to make sure that training for loan officers on active listening, being empathetic and knowing their product from A to Z is on point. This will enable them to take control of the conversation, no matter the situation at hand.

At Call Center Power we can help you find the perfect partner to start outsourcing mortgage originations. We have spent years researching and vetting the call center marketplace and we are confident we can leverage this experience to find the perfect partner for your business success. We go through the entire Outsourcing Lifecycle process to ensure you will get only the best, without all of the risks associated. The best is: We offer this service at NO COST.

Contact us today.

Transform your call center operations and exceed the expectations of your customers with best-in-class outsourcing, call center consulting, and technology enablement services. 

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