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Company Dashboard Components for Lenders

Nov 19, 2021

Company dashboards are the mortgage executive’s surefire shortcut to understanding what’s working in their business; measuring progress; and planning next steps. A quick, regular look at success metrics, especially when connected to a mortgage CRM, will help lenders make daily decisions and take consistent actions that get them closer to their performance goals.

Read on to explore some common components of a mortgage company dashboard.

A Mortgage Company Dashboard Should Show Production at a Glance

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When a mortgage executive logs onto their desktop on a Monday morning (on the off chance they haven’t spent most of the weekend there already), they’re going to want to see overall progress toward goals in terms of loan production.

The dashboard should show production in several ways: number of closings per time period (month, quarter and/or year to date); loan amounts (averages and totals); types of loans; revenue per loan; profitability; and percentage in relation to set goals. LO and branch/office average should be available too.

Success Metrics Should Include Performance Analytics

Performance statistics can help a mortgage executive quickly see where breakdowns may be occurring in the loan process. The percentage of leads that apply for a loan will show how the company is doing in the earliest stages of relationships, while the percentage of applicants that close will show how the company is doing when getting applicants into their homes.

Understanding these percentages also helps mortgage executives plan. Let’s consider some simplistic, if not realistic numbers. If the company needs to close 10,000 loans and gets 90% of applicants to closing, then they’ll need about 11,200 applicants. If 50% of leads become applicants, they’ll need 22,400 leads to make their end goal.

Mortgage CRM Metrics Should Be Part of a Company Dashboard

When integrated with the company’s Loan Origination System (LOS), a mortgage CRM like Surefire can show all of the data listed above. And there’s much more still to glean.

A dashboard that’s part of or integrated with a marketing automation CRM can also demonstrate the company’s level of interaction with customers. CRM-connected dashboards can summarize responses to customer surveys, for example. And they can show the number of applications or closings generated through particular CRM activities – such as the percentage of refi alerts that resulted in an app or closed loan.

They also can give suggestions for actionable next steps by identifying valid alerts and opportunities that can still be acted upon at an individual level. For an executive’s view, the dashboard might identify white space in the CRM, including the types and percentage of alerts that were not actually acted upon by LOs.

Trends are Company Dashboard Friends

As important as the raw numbers are, it helps mortgage executives to see trends on their dashboards. Comparisons to last month/quarter/year show the overall view rather than the specific numbers – they can see the forest in addition to the trees, so to speak.

If you’re interested in seeing how the Surefire mortgage CRM can set your company dashboard on fire (in a good way, of course!), sign up for a demo today.

Renita Davis
Renita Davis
Content Manager

As content manager at Top of Mind Networks, Renita develops award-winning marketing materials and strategies for mortgage companies. Throughout her career, Renita has managed public relations and produced both printed and online content for clients in the home building, affordable housing, real estate, mortgage lending, financial planning, and

environmental industries. As a ghostwriter, she has contributed to two books on social media marketing. Her work has also been published in numerous print and online trade publications for industries she supports.

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