Latest / Mortgage Marketing Radio / Ep #52: The Fastest Way to Qualify a Borrower on Your Mobile Phone

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Ep #52: The Fastest Way to Qualify a Borrower on Your Mobile Phone · Mortgage Marketing Radio

• 0:00
  In today's highly competitive mortgage industry, building profitable relationships with
• 0:04
  the real estate agents is essential for success.
• 0:06
  However, finding effective ways to secure agent relationships can be a challenge.
• 0:11
  With so many mortgage loan originators vying for the attention of real estate agents, it
• 0:15
  can be difficult to stand out and establish meaningful connections.
• 0:20
  Our new case study featuring loan officer Chris Cogill is a must-read.
• 0:25
  Chris has closed a remarkable 36 million in funded loans from agent referrals.
• 0:31
  And in this case study, he shares his proven strategies for building strong relationships
• 0:34
  with real estate agents and leveraging those relationships to drive more business.
• 0:39
  To get your hands on this resource, head over to LOKestudy.com and download your free copy
• 0:45
  of the case study today.
• 0:47
  You'll find actionable insights and practical tips that Chris used to close 36 million
• 0:52
  in funded loans from agent referrals and how you can too.
• 0:56
  Don't miss out.
• 0:57
  Go check it out right now, visit LOKestudy.com and download your free copy today.
• 1:17
  Hey listeners, Jeff Zimper, welcome to this week's episode of Mortgage Marketing Radio.
• 1:39
  So glad you're here.
• 1:40
  Hey, if you've been listening and haven't yet been over to iTunes or Stitcher and left
• 1:45
  us a review, I'd appreciate if you'd get value from these podcasts I'd like to know.
• 1:50
  So please leave us a rating on iTunes or Stitcher and if you want to reach out to me directly
• 1:54
  if you've got a question, suggestion, let me know how you like the podcast, who you want
• 1:58
  me to feature as a special guest, maybe you're listening and you want to be a guest.
• 2:02
  Reach out, let me know info at MortgageMarketingInstitute.com.
• 2:07
  Okay, so for this week's special episode, I am talking about once again, being mobile
• 2:14
  friendly because for many of you, you're still not on board, you're still not creating
• 2:19
  or delivering a mobile friendly experience for your end users, your clients and consumers
• 2:24
  and your referral partners and the tide is going out people, meaning those who create
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  and deliver the most user friendly experiences, ones that are mobile friendly, those are the
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  ones that are going to get the lion's share of the business.
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  And I was reading a study recently about apps and app downloads and how app download is
• 2:45
  slowing down and according to this one study, app downloads in the US was reduced by 20%
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  in 2016 as compared to 2015.
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  And some people don't download new apps today and the market is kind of matured to study
• 3:00
  one on to say and that most people have the apps they need and there's obviously limited
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  real estate on somebody's mobile phone screen, right?
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  And so the study talked about how Google announced a new type of app called a progressive
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  web app.
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  And what is that?
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  A progressive web app is one that can be used through your browser, from your mobile phone,
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  simply visiting a link.
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  And some people predict that those apps will eliminate the need for native apps, which
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  brings me to my special guest today, Drew Brents CEO and founder of preapp 1003.
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  And Drew was gracious enough to take time away from just having come through the terrible
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  hurricane and rains in Houston, Texas.
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  And thankfully he wasn't as adversely affected as some of his neighbors and surrounding people
• 3:50
  in his general area.
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  But definitely coming through some tough times and spent the day prior to him getting on
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  this podcast, moving a bunch of drywall, choking on some drywall dust.
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  So I'm just so grateful that Drew took time from that challenge to share what he's going
• 4:08
  to share with you guys today on this podcast.
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  So preapp 1003, it's a complete cloud-based text-initiated, mobile-friendly, mortgage pre-qualification
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  system.
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  It's simply the most efficient way for you, the loan officer, to pre-qualify a prospective
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  borrower all from a mobile device.
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  And you'll hear Drew talk about how preapp 1003 helps from the point of referral, right?
• 4:29
  And keeping your referral partners notified and updated as your client's complete the
• 4:35
  1003, as you get pre-approvals, etc., calculating ratios, funds to close, issuing closing
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  costs, worksheets, conditional pre-approval letters, and more.
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  So if you're at all interested in how do you create a more friendly 1003 mortgage experience,
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  you've got to listen to this episode.
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  It's completely personalized, branded to you, even with a video greeting.
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  How's that for cool?
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  When it clicks a link that you text them from a keyword, they go to a web link, they
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  watch a video welcoming you, right, from you, and then they start to complete their pre-app
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  1003.
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  Cool, cool stuff.
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  So check it out, listen to this, check the show notes.
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  There's going to be a chance for you to give it, be given a free demo by texting a keyword
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  in here.
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  As a matter of fact, if you want to do that, let me just see here, what is this?
• 5:25
  Okay.
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  You can test this out right now.
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  You can text to number 48421, the keyword demo at pre-app, okay?
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  You can text the keyword 48421, demo at, that's the at sign at pre-app, and you'll get
• 5:41
  to shot at what this looks like, but I'll also put that in the show notes so you guys can
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  check it out.
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  So without further ado, let's get into this week's show.
• 5:49
  Hey Drew, welcome to the show.
• 5:51
  Yeah, thanks Jeff, glad to be here.
• 5:54
  All right.
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  Let's get into it.
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  We are talking about pre-app 1003, the mobile app that is not an app like that, as it says
• 6:01
  on your webpage at preapp1003.com.
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  So before we get into what pre-apps all about, you know, for the listeners, I kind of
• 6:09
  gave a brief intro of who you are in the intro of the show, but tell us a little bit about
• 6:15
  who you are, what you do, why are you in this business?
• 6:18
  Yeah.
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  So I'm one of these guys that that tech company was never, never even on my radar.
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  I come from 20 years background as a mortgage originator that owned a broker shop, you
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  know, didn't many warehouse lines, you know, many corresponded, and I needed something
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  to help me in my business.
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  I wanted a very fast and easy way for realtors to send me customers and for me to easily
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  pre-qual people.
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  So what we designed at the time was a text-initiated pre-qual form that was, you know, very simple
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  for the realtors to use, is very simple for the customer to use.
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  And I couldn't find, you know, I personally hate apps, but I didn't want to tell my customers
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  that download an app or anything like that.
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  So I couldn't find what I wanted.
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  So I reached out to a friend of mine, Neil Beetru, that's now my business partner,
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  and I said, hey, Neil, can you build this for me because he knows code and everything.
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  So he built our first pre-qual form.
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  And when I saw it, I realized I said, this is something that's really going to benefit
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  the mortgage industry, and right there on the spot, we said, hey, let's start a company,
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  let's do this.
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  And we had no idea that it was snowballed and evolved into what it has evolved into.
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  So you know, it's one of those things that it was just something that I was needing to
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  help me do my job better.
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  So that's how it came about.
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  So what did you feel was missing, then, when you say needed to help you do your job better?
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  What did you see?
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  Obviously, the app is, of course, evolved since then.
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  But what did you see as, like, what was that going to help you do?
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  You know, it's funny because I wanted something that was mobile-friendly, and this is actually,
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  this was before Rocket Mortgage even had their first commercial.
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  We were in the process of beta testing everything, when we saw the first commercial.
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  So, you know, it's funny, because I was sitting in my office, I pulled out an old pre-qual
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  form that I used back in the 90s, that we used to drop off a realtor's office and had
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  their, you know, hey, experts pull this outside and the facts again.
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  And we have been using a text to give feature at our church, and I said, no, I really would
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  like to have a text-initiated pre-qual form that would just make all the sense in the
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  world.
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  Like I said, we couldn't find it.
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  So, you know, that's how we started.
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  But I personally don't like to have to install an app.
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  You know, I don't want my customers, hey, download an app, create an account, just to get
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  the ball rolling.
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  I need to something very simple and very fast.
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  So.
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  Yeah.
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  Well, people are downloading apps less and less.
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  You know?
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  It's happening.
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  Right.
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  Right.
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  Everything's going more cloud-based, and that's what we want cloud-based system.
• 9:11
  Right.
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  I mean, you can, I just pulled up an article about slowing app, download, gross, and the reality
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  is a reality in the U.S., and it's to your point, because people have enough apps already
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  on their phone, taking up all that space, and, you know, there's issues around that.
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  So, cloud-based.
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  So, for those that are kind of, explain what does that mean, cloud-based, because obviously,
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  you know, when we hear, oh, it's a mortgage app, the assumption is, okay, I got to download
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  this.
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  How this works, pre-app 1003, how do I get it on my phone?
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  Okay.
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  So, there's a few ways that the customer, and let's just say to your prospect, how do they
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  get this?
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  So, number one, we lever short code technology.
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  Okay.
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  So, we're text-initiated.
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  And there's some other ways, too, that I'm going to cover as well.
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  But, so, the first way is, we'll set up all the loan officers with our own unique keyword,
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  okay?
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  So, like, for instance, yours could be Jeff, because you have a unique spelling in your name.
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  So, maybe someone could say, text, you know, the keyword Jeff, to 4 equal to 1, they could
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  pre-qualified or to get started.
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  So, as people do that, they receive a text link in response, and they can open up that
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  link.
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  And our form is short enough, or it did not be burdensome for them to fill it out, but
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  it's a long enough to capture enough information to really get a handle on getting them pre-qualified
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  without triggering the trid-six pieces of data.
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  Okay.
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  So, let's pause there for a second, because that's a great point of clarification.
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  Is this a complete 10-03?
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  Well, the initial form is not, but we just released our 3.4 upgrade, which basically,
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  I'm getting a little ahead of myself here, but no, I'm telling you to.
• 10:53
  No, it's fine.
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  It's fine.
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  So, we've had a lot of requests for, hey, we want a full 10-03, and I just want to explain
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  what makes our system different than some of the other systems on the market, because
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  not only do I not like, in customers, a lot of times, don't want to install an app or
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  create an account to get things started.
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  And the reason why there are maybe some other systems that force the applicant to create
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  a username and password to fill out the applications, because they application the full 10-03 so long.
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  So, and, you know, I think that to force a customer to spend 20 to 30 minutes on their mobile
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  device as the first step, and yes, I understand it's important to get a full 10-03, but to
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  have them spend that much time on the phone on their mobile device to fill it out is, to
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  me, I think that's a failure, okay, and so I'll tell you what we've done.
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  Our form is not a short form, it's not a full 10-03, initially, I call it a Goldilocks
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  form because it's just right, okay, it's short enough that the customer doesn't need to
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  create an account, okay, they could fill it out in five minutes or less when it's at,
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  and then, but it's long enough where the loan officer does get enough data to pull credit
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  or TTI, you know, look at the cash disclosing, get their thumb on the pulse of, do they qualify
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  or not.
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  With our new upgrade that we just released, the pre-qual form is still just as short,
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  so they give the link, they fill out the pre-qual form when they hit submit, then refreshes,
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  and it takes the bar word to what's called a bar word toolbox, okay, and the bar word toolbox
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  has a, it has, it'll have it like a next steps video that you can upload and, you know, talk
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  to them, and by the way, our pre-qual form also has a video greeting that the loan officer
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  can embed into the, into the form too, that, so that's been a real, a real desirable feature
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  in our system, but anyway, when they submit the initial form, it refreshes to the pre-app toolbox,
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  okay, with a next steps video, and then there's a button that says, you know, complete your
• 13:00
  loan application, and that is where now the bar when they, when they hit that button, they,
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  now they would create a username and password, and now this is where they would flush out
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  the rest of the 10 or three with the data that they missed, including declarations, still
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  not triggering the trade six pieces of data, we're still, still not getting a property
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  address.
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  Okay, so what's the intent then of that initial short version of the process, then, as we
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  want to kind of take the customer off the street, lock them up, get them into our process?
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  Yeah, so, so when the, when the initial pre-qual form is submitted, the L.O. is going to get
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  a text notification immediately, the referral partner is going to get a text notification,
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  and then the loan officer can very easily log in to their account from their mobile device,
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  and our system now, our system is set up just like a mini L.O.S. program, in the sense
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  that we integrate with the majority of credit agencies out there, okay, you can, so, so
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  from their mobile device, the L.O. can log in, they can review the data, they can pull credit,
• 14:02
  they can look at the credit scores, they can, they can edit the liabilities, they can
• 14:07
  work a purchase scenario, they can, they can have templates set up in the system too,
• 14:11
  so they can have an accurate idea of the closing cost, but when they work the purchase scenario,
• 14:17
  they can, you know, pick, okay, I'm going to do a conventional loan, we're going to, you
• 14:20
  know, here's a, you know, they basically do what they would normally have to be tied
• 14:24
  to their desk to do, and, and, you know, we have an interface with MGIC, so it's going
• 14:30
  to automatically pull the PMI, but the whole point is, is going to give within, within
• 14:34
  a minute or two, the L.O. can, can, can be looking at those debt income ratios, they
• 14:38
  can look at the cash to close, they can really get a handle on, do these people qualify,
• 14:43
  and the next step is, they could issue a conditional loan and approval letter from their
• 14:47
  mobile phone to both a borrower and the referral partner, and let me just add this as I mentioned,
• 14:53
  the, the loan approval letters in our system are unique in that the loan officer can set
• 14:57
  a ceiling sales price, and this, you know, I got the pre-app in, I'm, you know, have
• 15:02
  my conversation with a customer real quick, I looked at credit, I did the DTI, and I'm
• 15:06
  very comfortable issuing it for less than 300,000. Well, as the, as they go out there for
• 15:13
  shopping, you know, realtors, you know, they're going to make an offer for less than
• 15:16
  $2.75 or $2.95, and they always want those loan approval letters updated to match their
• 15:22
  offer amount. They never want the seller to know that they, that they're qualified for
• 15:25
  more. So now, the, the, the realtor or the borrower can lower that sales price on that
• 15:31
  letter at their discretion, and it'll automatically adjust the loan amount, and they just reprint
• 15:36
  that PDF off and, and use it. So are you seeing people use a mobile screenshot of a pre-approval
• 15:44
  in our days versus, you know, print out? No, I don't. Because, you know, realtors, you
• 15:51
  know, what they want, and, and, you know, of course, your, your audience can correct me
• 15:55
  if I'm wrong, okay? But, you know, when they make an offer, they're sending a, they're
• 16:01
  sending something, and they want that letter in that. So they're going to print that
• 16:04
  offer, they're going to save the PDF, and it's, you know, to, to put it with that offer
• 16:09
  that they're making. Okay. Now, cool. All right. So how does a loan officer get their referral
• 16:14
  partner on their same process, text the keyword, and? Well, yeah, as far as adding the referral
• 16:21
  partner in there, so they're like notified when, when it's been submitted as such. That
• 16:25
  would you mean? Yeah. Yeah. Yeah. So we, as part of our, our 3.4 upgrade, that they can
• 16:32
  now go into the dashboard, and thus say they work with 10 or 12 realtors, they can go
• 16:35
  in there, they can add, you know, their names, their, their cell numbers, and their email
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  addresses in there. So now, when the customer fills out the initial pre-qual form, and they,
• 16:47
  they hit submit before they hit submit, they've got to tell that loan officer, how did you
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  hear about this? And so there's going to be a drop down, you know, a friend, internet,
• 16:55
  builder, or realtor, whatever, and, and, but, but they can also have them to drop down
• 16:59
  people you work with. So Susie, cue, realtor, you know, so they could click that. And the
• 17:05
  benefit is it, it makes it easier for your customer. And that's what we're about. We want
• 17:08
  to make it easy for the customer to run in. And we also want to automatically send a thank
• 17:13
  you text on your behalf to that referral partner. And then also once they're in there, if
• 17:19
  that realtors been selected up front, when you issue the loan approval letter, you could
• 17:23
  have that sent to them as well. Got it. So the referral partner is getting a notification
• 17:29
  when somebody fills out their information, the realtor gets that. And then also when
• 17:34
  there's a pre-approval presented, correct? That is correct. Yes. So in a nutshell, I
• 17:42
  mean, we are, we're like, we're like a mini LOS. So, so what, what, what, what tools, what
• 17:50
  tools do I need up front, you know, before, obviously, a contract is executed, what would
• 17:54
  I need to do in my LOS that I would have to run home and okay, I got to get home, I
• 18:00
  could get to my desk. And what, what do I have to do? You know, from my desktop, that's
• 18:05
  what you now can do from your mobile phone within within a few minutes. Yeah. I love it.
• 18:10
  So tell me about the video greetings. What, what are some options on there and what's the
• 18:15
  user experience like? Because I think that's really a powerful way to, right? I mean,
• 18:20
  nowadays with the expectation around video to build some personal connection. Yeah.
• 18:25
  Personalization, yeah. Right. You know, it's funny because our pre, our pre-outform originally,
• 18:32
  it was just it had to come, your, your company's logo, you get out of the colors and has your
• 18:35
  picture and content information at the bottom. And we had one of our users that said, hey, I
• 18:40
  would love to have a video greeting. And of course, our system has evolved into what it is now,
• 18:45
  just because of feedback from LOS, you know. And so we love the idea. So now we have a,
• 18:51
  the ability that you can, you know, shoot a video uploaded to YouTube or Bimeo. You can grab
• 18:57
  the iFrame code and you can embed that into the system. So now your pre-qual form, your pre-outform,
• 19:03
  don't have your company logo, it'll have, excuse me, your video and then the, you know, the,
• 19:10
  the form below that. And I'm going to have you guys text for a demo here in the
• 19:14
  minister, you can see that. But, but basically we have it, we have a, a suggestive script,
• 19:19
  okay, for the video, we, we highly encourage you not to have it longer than the 30 seconds,
• 19:24
  because you're going to lose people. People are not going to watch even a one minute video.
• 19:29
  Keep it 30 seconds or less. And something else I want to point out is, you know, don't, you know,
• 19:35
  don't read our script, okay. And we have, we've had some customers that, that they just literally
• 19:40
  read the script and it sounds so mechanical. And it's, and you know, Jeff, you know this,
• 19:45
  where you watch it and you're, you're awkward. You feel uncomfortable watching the person.
• 19:50
  So what, what's, are, what are, you know, guideline or suggestive script is, is, is you,
• 19:58
  number one, greeting your customer. Hey, thank you for reaching out to me, introducing yourself.
• 20:03
  My name is, you know, Drew Brent's with, you know, pre-outten of reading, you know, whatever
• 20:06
  your company is, you know, if you've been in the business long enough to brag about it, obviously,
• 20:11
  you know, you, you knew these don't need to say, hey, I've been in the business six months, but,
• 20:14
  you know, if you've been in the business several years, you know, say that, hey, I've been in the
• 20:18
  mortgage business in this area for 20 years. And, and then, you know, and then encourage them,
• 20:24
  hey, look, the first step in getting to pre-qualify, so fill out this form below is completely secure.
• 20:29
  Once it's submitted, I'm going to be contacting you, we're going to get a game plan for your
• 20:32
  financing. And then thank them again and, and shut up. You know, but, but have that call to
• 20:39
  actually, but what we found out is, is when people get that and they're able to see that video,
• 20:44
  they actually feel like they've already met you, even though they never have. So it, the, the,
• 20:48
  the conversion of them submitting that, the percentages go up so much. And right now, is, is that the
• 20:56
  option, if you will, one video? Well, you have one, which is on your pre-app form, your pre-app
• 21:03
  application form, which is a greeting, then there's another video that you can embed, indeed,
• 21:08
  and it was called a bar or toolbox, which is where now the bar or toolbox is, you know,
• 21:14
  again, it's when they submit it, it refreshes to that screen. Also, they get an email with a
• 21:19
  link to it. And the toolbox would be where they get upload documents, where they can, you know,
• 21:25
  complete their application, where we actually send them, when, when you issue a low-approval
• 21:29
  error, it goes through their toolbox. We actually also, Jeff, and something that, that I
• 21:34
  failed to mention earlier, is if credit is pulled through our system, we actually send out the
• 21:38
  credit score disclosure form to the bar or encrypted with the last four digits of their social
• 21:43
  to that toolbox. So, you know, I know there's some companies that pay, you know, up to a dollar,
• 21:48
  $1.50 a pop to their credit agencies to snail mail that out to the customers.
• 21:54
  Through our system, we've automated that process, and it can save companies a ton of money.
• 22:01
  But the video in the toolbox, that would be a next step. So, hey, thank you for filling out,
• 22:06
  taking the first step and getting your loan approval. You know, below is your toolbox. Let me
• 22:12
  encourage you to, you know, go ahead and take your leisure, you know, complete the rest of your
• 22:16
  application. And then, obviously, you know, to be trick-compliant, you can't require any documents.
• 22:22
  We can't tell you the assignment intent to proceed. So, you can say, you know,
• 22:26
  although nothing is required right now, it would really help us in this process. If we can review
• 22:30
  your most recent paste of, or last two months bank statements, or tax returns, or whatever, and say,
• 22:34
  we have a button down below, or you can upload those documents to us. So, just whatever you
• 22:40
  want to say about the process, that's what that would go in that video.
• 22:44
  Is there any, like, once you've got them through this process, I'm trying to follow the life
• 22:50
  cycle here, the buyer journey, when, I'm trying to say, how do I take it like this?
• 22:57
  Can the communication, what do you usually recommend or see, the communication, in terms of
• 23:01
  like texting versus the LO, actually getting on the phone as they go through this process?
• 23:05
  And I ask that, you know, in the under the umbrella that, you know, a lot of people kind of want to
• 23:10
  default to texting because it's easier, or whatnot. And I know it has a place, right, a time in a place.
• 23:15
  And it sounds like it's pretty clear the time in the place is at the front end of this, make it easy
• 23:20
  to kind of get involved. But do you see or, you know, provide any means of, or do you recommend,
• 23:25
  right, the LOs, right, continue a texting type of communication?
• 23:29
  No, I actually don't. Of course, you know, I've been originally 20 years, I'm 45, I'm not too old,
• 23:38
  but you're just right. You're like Goldilocks. That's right. I'm just right. So, so,
• 23:47
  I actually think that when you get your pre-app notification, someone has filled that out,
• 23:52
  you need to call them. And this is why we give a text notification to the loan officer that has
• 23:58
  the name and number of the borrower and the name and number of the referral partners because we want
• 24:03
  it to be super easy for them to long click on those phone numbers and call these people.
• 24:08
  If you have a conversation with that customer, you're going to take them off the street. You're
• 24:14
  going to connect with them. You can bring, you know, copy, put confidence in them that you
• 24:19
  actually know what you're doing, you know, and the speed at which, when they submit that, you get
• 24:25
  that text, if you call them immediately, they're going to say, wow, that was fast. And he said,
• 24:30
  yeah, man, this is what I live for. I'm here to help you. You know, it really, they're not going
• 24:37
  anywhere else. So, I love the, just in a rep for a second, I love the fact that you provide the,
• 24:45
  would you call them long clickable numbers? Well, yeah, it's just, you know, little hyperlinks
• 24:49
  on those text messages. You know, that you can just long click on those numbers, you call.
• 24:54
  Right. So, it's just a paint that picture for those listening. I'm sure, I mean, I got
• 24:58
  to try and cover all bases. I mean, I know what they are, right? You get a phone number in a text,
• 25:01
  it's blue, typically highlighted, right? You just touch it and it dials the phone number.
• 25:05
  So, I love the speed of that because, as you said, somebody completes that that, you know,
• 25:11
  either form of the app, boom, push a button, call. Hey, thanks so much. Just wanted to connect,
• 25:15
  introduce, right? And then same thing with the, with the referral partner. I see too often people
• 25:21
  trying to hide behind technology and technology is great, but it doesn't necessarily, right?
• 25:26
  Build that stickiness of the relationship. Right. Right. And you need that. I mean, I mean, we can't
• 25:31
  forget that this is, this is a people business. And you're dealing with the, you know, the probably
• 25:37
  the largest transaction of their lives. And, you know, they, they want to talk, you know, they want
• 25:41
  to connect with someone. And people that don't, that people that think, well, no, it's just,
• 25:46
  everything's automated. Look, that's not what your home buyers want. They want, you know,
• 25:50
  they want it easy. And you want to make your job easy. But they also want to connect with
• 25:55
  somebody, okay? And it's something, it's not the Jeff I forgot to mention. I also want to make
• 25:59
  sure that it's clear that, that our system is not only a text initiated system to get the link
• 26:05
  because we are cloud based, our application and also the document upload portal. Those can be
• 26:11
  embedded on websites or email signatures. So they work just as well on a desktop as well.
• 26:16
  As a motor. That's very cool. And you also have integrations into some CRMs and things out
• 26:21
  there. That's right. We do. We have integrations with CRMs. We have integrations with optimal blue,
• 26:27
  loan tech. Like I said, the majority of credit agencies out there and other integrations come
• 26:34
  in LOS programs. We have integrations with them. So yeah, awesome. Well, you mentioned you wanted
• 26:39
  to do kind of a demo for those listening. Do you want to give that out right now? Yeah, yeah.
• 26:43
  So those of you that are just curious, you know, how does this work? So, so I'm going to have you,
• 26:49
  I'm going to have you right now. I'll fill out your mobile devices,
• 26:53
  fill out your cell phones. And I want you to text, and I'm going to give you the numbers,
• 26:58
  going to be a five digit number. I want you to set a text message to the number is 48421, okay?
• 27:03
  And the keyword that I want you to text is going to be demo at. I want to say at. It's going to be
• 27:09
  little at sign demo at sign pre app, okay? So text demo at pre app is all one word demo at pre app
• 27:18
  to 48421. Now, when that happens, when you guys do that, and I don't know when this is going to
• 27:27
  going to go on error, but I'm going to get text messages. And matter of fact, we're doing a live
• 27:33
  demo right now. And that was mine. Was that yours? Okay, okay. So, and I won't call out your cell
• 27:39
  number, but it's okay. But when we when we do these live demos, it's great because I tell people
• 27:45
  to do that, my cell phone starts blowing up with text messages. And again, it's demo at sign
• 27:51
  pre app to 48421. So this is something that's really unique. And you guys, y'all are really going to
• 27:58
  like this. It's going to change the way you market to get your pre app out there, okay? So now,
• 28:05
  you're going to market your keyword to this short code number, okay, for people to do that. Now,
• 28:12
  people are going to be curious about this. And they're going to do it. Okay. Unlike a website,
• 28:16
  you put your website, go to the website, you know, they're blinded to that. It's they don't even see
• 28:19
  it anymore. And they're not going to call because a lot of times they don't, you know, they just want to
• 28:24
  kind of incognito things, you know. So, but they will text. And there's a guy here in the Houston area
• 28:31
  using our system that rents ad space and movie theaters. And I just, I just think this is just
• 28:38
  brilliant, you know. So he's got, he's got this big ad for his team on all these movie theaters. And
• 28:43
  he knows that people are sitting there waiting for the movie. They're on their mobile devices. And it
• 28:48
  throws up his team and it says text. And it has the keyword to this number, four more information,
• 28:55
  you know, and what do you think everyone in the theater is going to do? They're going to say,
• 28:59
  hey, that's cool. Let me check it out. And little do they know that this loan officer is going to
• 29:03
  get 100 text messages capturing all of those cell phone numbers. So whether those people ever fill
• 29:09
  out a pre app form or not, he has he has a hundred leads to follow up. That's pretty cool.
• 29:15
  So it's a lead capture system too. I like that. Yeah. So I just obviously texted and walked through
• 29:20
  this demo. And by the way, we'll put the numbers in the short code, everything in the show notes.
• 29:24
  So those that are listening can go back and actually do this. But yeah, I can see, right? So
• 29:30
  obviously it's the branding for pre app 1003, but it could be my company, whatever. And it's got
• 29:35
  the welcome video. And thank you for contacting. It's got the borrow borrow info, income, employment,
• 29:42
  assets, additional real estate owned. Some questions about marital status purchase a re five veteran
• 29:49
  first time buyer or not. Very cool, man. Very cool. Yeah. And and obviously, you know, we've
• 29:55
  had some people that said, well, what about previous employment? Well, we don't ask for previous
• 30:00
  employment on that prequel form. That's on face to, you know, because you don't really what you,
• 30:05
  you need to know, are they employed or self-employed? Yes, and how long? Right. And you also need to know,
• 30:10
  do you own any real estate? And if so, you know, you know, we get the real estate audio properties
• 30:17
  later on the second step, the point is get the information you need to get the ball rolling and
• 30:22
  make it easy for them. And then let them take their time to flesh out the rest after they've
• 30:27
  submitted the initial. Well, yeah. I mean, we're trying to create a positive customer experience
• 30:32
  here, right? Right. And trying to lower the bar. And we're trying to, I could we say, we keep
• 30:35
  referring to take them off the street. And so let's create that easy process, right? How does
• 30:40
  and endear them to us. And so I like the fact that you pointed out we can get the REO later.
• 30:45
  That's really not critical to phase one here. Right. Correct. Correct. Very awesome. Very awesome.
• 30:50
  I love this, man. It's so simple. And the other thing is cool is like even if somebody
• 30:55
  typically like has maybe something you can integrate even with other mobile apps that don't have a
• 31:00
  1003, right? Yeah. Yeah. Like, you know, there's there's a real popular app out there. It's
• 31:08
  is mortgage map. Okay. And we do, you know, we the systems seem to play very well together.
• 31:13
  That's an additional business card. And we love those guys over there. And yeah. And what they've
• 31:17
  done is their system, you can actually embed like an applying out button within their app. And
• 31:22
  it says ours is, it's just, it's a URL link. Right. That formats to a mobile device. They could
• 31:28
  just, we can embed right into their system or anything else that you guys are using out there.
• 31:32
  So that's awesome. So what's next on the radar for developments in the app?
• 31:38
  You know, we got a lot of things on all the radar. We just released our 3.4, which was,
• 31:45
  you know, we had, you know, like email reminders that'll go out to, you know, like, for instance,
• 31:51
  when the bar, excuse me, the loan officer creates a checklist of items that they,
• 31:55
  that they request, our system will now send email notification reminding them that they still
• 32:01
  need, you know, X, you know, these documents. And so it's, it's, it's, it's intuitive of what they
• 32:06
  still need. And there's been a lot of other upgrades in with that release. We are looking at
• 32:12
  a integration with listing booster where it'll, it'll automatically send out an email to those,
• 32:20
  to those leads. That would include your video and a link to your preapp. So we have that coming.
• 32:26
  And of course, we're always looking at other CRM integrations, LOS and integrations.
• 32:32
  Cool. But, but yeah, it's just, oh, you know what? I forgot to mention this.
• 32:38
  Day one certainty features with like form free account check. You know, we're working
• 32:44
  on those. So as the industry goes more toward the day when certainty features are full 1003 side
• 32:49
  of the system, we'll have those, you know, like that they say, okay, here's my bank account,
• 32:55
  they can enter credentials and have those, those assets verify income. And they, so,
• 33:00
  so our system is evolving that direction too. But let me just emphasize, we keep the front and
• 33:05
  prequel simple, okay? We don't want, we don't, we don't think that the bar should have to jump
• 33:10
  through all those hoops at the first step. Let them get in the door, you connect with them,
• 33:14
  build the rapport, get word back to the realtor. And in the meantime, let the bar take, you know,
• 33:19
  that 20 or 30 minutes to flesh the rest out with the, you know, the day one certainty features.
• 33:24
  Got it. Hey, what are the options on keywords? Can people choose their own or is that something
• 33:30
  you guys hold the keys to? You know, no, they, they can choose their own keyword. And we have,
• 33:36
  we have an instructional video on how to, how to select them because, you know, obviously it
• 33:41
  needs to be one word. And, and you really also, if you're considering a keyword, you don't want to,
• 33:47
  you know, you don't want autocorrect to separate it. I'll give you an example. We had someone that
• 33:52
  had the keyword apply, okay? And someone else that had, they chose the keyword apply now.
• 33:57
  Well, the guy that had a plan out didn't realize autocorrect was going to separate a plan now.
• 34:02
  Well, that's not good because the system recognizes one word. So, you want to, as you're,
• 34:07
  as you're thinking about a keyword, you know, a test on your phone, make sure autocorrect doesn't
• 34:12
  separate anything. And also, you know, think about leveraging, you know, the at symbol or the number
• 34:18
  four or the number two, like, you know, click to apply or, or apply number four MTG or, you know,
• 34:25
  Jeff at, you know, XYZ Mortgage or so, think about ways you can leverage a suffix, okay? But,
• 34:34
  but the control is in the loan officer's hands and people get very creative.
• 34:43
  I bet, but obviously once a keyword's taken, it's taken. It is taken. Yeah. Right. So,
• 34:48
  much like domain names, right? Maybe some of the obvious good ones are gone, like apply,
• 34:53
  that one's gone. I'm going to guess, right? Right. Yeah. That one's gone. But, uh, low rates,
• 34:59
  at low rates, probably gone. Right. Well, I don't know. That one, that one, I mean, I'll be gone.
• 35:06
  You may have just given someone. There we go. It is, it is available. Low rates. Right.
• 35:12
  Awesome. Well, this is good stuff. Okay. So, um, let's talk about how people connect with you more.
• 35:15
  Obviously, there's the demo we just walked through and that's going to be in the show now. It's
• 35:18
  again, your website is preapp1003.com, P-R-E-A-P-P, 1003.com. All one word. That's pretty cool.
• 35:27
  Where else would you like people to connect with you? You know, they could, uh, they could email me,
• 35:32
  and my email address is true and intradrewDRU. So, it's DRU at preapp1003.com.
• 35:40
  I'm hesitant to give out my cell phone number on there like this. But, uh, but if you email me,
• 35:44
  I'll respond and you'll have my cell number then. And, you know, let me also, let me also mention
• 35:51
  our price point, Jeff. Yeah, please do. You know, so, yeah, so for an individual, you know, out of the
• 35:57
  box system without, you know, let's say you don't want the, maybe an, an, an graceful optimal blue
• 36:01
  or something. Let's just say out of the box, um, system for, uh, individual loan officer is 39 bucks
• 36:07
  a month. Um, so it's, there's no set up fee. It's month to month. Um, you know, we, uh, we might be going
• 36:16
  up on that price shortly. Um, but that's a lot of value for the price. Yeah, absolutely. And,
• 36:22
  and as it's evolved, that's why we're kicking around the idea of maybe going up a little bit,
• 36:25
  but right now, like, and let me just say, if they lock in whatever price they buy it at,
• 36:32
  they are locked in at that price, even if we do have a price increase, you know, they're going
• 36:37
  to be locked into the 39. Yeah, it's great. Grandfather day. Yep. Awesome. Okay. So there's that. And then,
• 36:44
  of course, if anybody, you're right, from a corporate perspective, maybe, uh, you need to go to
• 36:48
  management or something, or there is a, uh, leader or manager listening right now, um, you also,
• 36:53
  obviously have a corporate account options. We do, we do in the end of the corporate option,
• 36:59
  it does give the company a complete bird's eye view of everything, all the branches,
• 37:03
  on the individual, elbows, um, total control to add, remove users. It's, there's a lot more
• 37:09
  functionality. Um, depending on how many users they have, we do offer price breaks there. Um,
• 37:15
  and of course, you know, the, you know, more, uh, integration options are available too. You
• 37:20
  know, I mentioned earlier, I often blew or different LOS programs. That's, that's dictated by,
• 37:27
  you know, at the corporate level. Sure. So, yeah. So, um, awesome. Well, I mean, just from even
• 37:33
  just an L.O. using this, right? It's, it's, if you don't have a mobile experience today,
• 37:37
  you need to get one because that's what the expectation is. Particularly if you're working with
• 37:41
  younger buyers, uh, even more so, so you got to get mobile friendly, uh, in today's world or else,
• 37:47
  they're going to go where that better user experience is. So let's not make, uh, you know,
• 37:50
  getting alone like pulling teeth, uh, because it doesn't need to be. Yeah. So yeah, I would encourage
• 37:55
  you guys to check out preapp1003.com. Do the demo. It'll be in the show notes. Contact Drew and,
• 38:00
  you know, learn more about this, this awesome app. Love it. Love it, man. Thank you so much. Awesome.
• 38:05
  Thanks Jeff. I appreciate it now. You bet. So listeners, uh, once again, thanks for tuning in
• 38:09
  listening. We appreciate you. If you haven't yet subscribed, please do so. Leave us a recommendation.
• 38:15
  I like if you liked it. And as always, uh, thank you appreciate you and to see you on the next
• 38:21
  topic. Thanks for listening to mortgage marketing radio. One more truth in mortgage marketing.
• 38:27
  Get more free training and resources at mortgagemarketinginstitute.com.
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