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#1 Posted : Tuesday, May 10, 2016 9:47:05 AM(UTC)
Rank: Advanced Member

Posts: 123

Add a Mortgage Contact

A mortgage contact is someone that is looking for a loan, and as such differs from other contact types such as Referral Partners.

To add a mortgage contact, click on Add Contact from the Main Menu (Figure 1):

(Figure 1: Add Contact from Main Menu) In the New Contact screen, fill in the required fields (shown with boldface field names) as well as key fields that correspond to your contact. The Status field defaults to New Lead, and the Salutation field defaults to the contact’s First Name, while Mailing Salutation defaults to the contact’s First Name and Last Name (Figure 2): 

(Figure 2: Add Mortgage Contact) Pipeline management fields are used to help you manage your contacts and sales pipeline. Here is a recap of the main fields: Status – The current disposition of the contact. A contact can only be in one status at a time and this is the most widely used field for pipeline management. Typical values include New Lead, Prospect, In Process, Dead Lead, Past Client, Active, and Inactive. Unlike the other pipeline fields that are optional, this is a required field and must be entered prior to saving your contact’s data. Status Description – The Status Description field is used to further define the status of the contact. If the contact Status is: Dead Lead, then you can use this field to describe exactly why the contact is considered a Dead Lead, e.g., Bad Credit, Denied, Wrong Phone Number, and Does Not Own. If the contact Status is Prospect, you could use Status Description to further define the contact’s level of interest, e.g., Cold, Warm, and Hot. Each contact Status value has its own collection of Status Descriptions and you must first select a Contact Status before you can edit the Status Description value in the drop down list. Lead Source – Use this field to identify where the contact originated. Typical values include Website, Lead Provider, Title List, Trade Show, etc.

Lead Description – Just like the Status and Status Description fields, Lead Description is related to Lead Source. Use this field to further define where the contact originated. If the contact data was submitted from a web page on your website, then Lead Description could define the specific web page, e.g., Contact Us, Short Application, and Request a Callback. If the Lead Source was a trade show, then Lead Description could indicate the date and location of the show. Each Lead Source value has its own collection of Lead Descriptions and you must first select a Lead Source before you can edit the Lead Description value in the drop down list. Type - The Type field is used to indicate the profession of the contact or the contact’s relationship to you and your business, for example, Real Estate Agent, Appraiser, Friends and Family, and Referral Partner. This is a multi-selection field, so your contacts can be tied to more than one Type value at a time. For example, you may have a contact that is both a Real Estate Agent and a Referral Partner. Category – The Category field is used to place your contacts in one or more logical groups and is great for organizing your contacts into meaningful collections that are specific to your business, e.g., Monthly Newsletter, Investment Property, and First Time Buyer. The Type field describes your business relationship with a contact, and in this case, you may wish to designate the Type as "Client – Mortgage". The contact screen contains several pipeline management fields (Figure 3) that can be used to clearly define and delineate various types of contacts. For example, Lead Source and Lead Description, Categories, as well as Status and Status Description are useful fields for pipeline management. (Figure 3: Pipeline Management Fields in Contact Screen) The Lead Source and Status fields share similar functionality in that their settings in turn affect the contents of their related fields, Lead Description and Status Description. For example, if Lead Source is set to “Client Portal” then the Lead Description dropdown includes “New Contact Basic Registration” as well as “New Contact Full Registration”. Likewise, the setting for Status affects which values populate the Status Description dropdown. For example, if Status is set to “Dead Lead” then the values in Status Description include “Credit Problems”. If Status is set to “In Process” then Status Description includes “Sent for Processing”. The Categories field contains a dropdown with ready-to-use selections (Figure 4) such as Tier 1 to Tier 4, which allows you to specifically categorize your contacts for later retrieval. (Figure 4: Contact Categories) This initial data entry session is a good time to add other key contact fields such as Email Addresses and Phone Numbers. Click the Save command button on top at any time to save your work as you go. Later on, you can use Contact Finder to retrieve this contact.
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Video - Add a Mortgage Contact (Contact Management)
by Cimmaron 11/30/2014 3:56:53 PM(UTC)
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