How Mortgage Lenders Boost Satisfaction With Dynamic Video

How Mortgage Lenders Boost Satisfaction With Dynamic Video

How has the mortgage industry adapted to our increasingly digital world? For one, mortgage companies have upped the ante on their digital transformation efforts across all facets of their businesses. Automation — from collecting payments to customer communications and everything in between — continues to be a top priority for industry leaders who are constantly seeking to deliver that “next best customer experience.”

But there were problems.

As mortgage providers took the conversation online, customers started expecting to find answers online and on demand, too. But automated emails couldn’t handle every specific, complex question each customer might encounter.

In a nutshell, here’s what happened. When companies decided to automate and streamline their processes and communications, they approached it with a one-size-fits-all strategy. And that generic approach left customers frustrated and their questions unanswered.

The issue companies face, then, is to create a digital customer experience tailored to every individual. And it needs to be easy to understand. And it needs to be interesting. And, preferably, fun.

One solution mortgage leaders have found? Dynamic video. Here’s how it bridges the gap to build deeper connections and boost satisfaction throughout the customer journey.

Where Mortgage Companies Currently Lack

Over the past several years, mortgage companies have been transitioning from in-person to online, adjusting to a new digital world.

This transition came with high hopes. An online experience can be automated and simplified, making it easier for the customer to navigate through the entire process.


How mortgages leaders are taking CX to the next level

But companies have failed to consider one critical factor. In the process of going digital, touchpoints with a focus on every individual were removed — and personal relationships between mortgage consumer and brand were suddenly missing.

And with younger generations — who expect personalization — entering the housing market, a personal touch to brand communications is more in-demand than ever.

How Mortgage Providers Connect 1:1 With Personalized Video

Enter Personalized Videos: a way to send your customers all the information they need online with the personal attention they deserve. It’s personalized but also highly visual, and both aspects help with clarity.

Think about the applications. Send your customer an automated (and congratulatory) video that notifies them the moment their loan has been approved. Adjust to unprecedented situations like forbearance with a video that puts their worries at ease.

The use cases are virtually limitless. But because customer satisfaction is primarily measured in origination and servicing, let’s take a look at what it looks like in these two sectors.

Dynamic Video Use Cases for Digital Mortgages

There are dozens of use cases for data-driven video in the mortgage customer lifecycle, but here, we’ll focus on origination and servicing since that’s where mortgage companies are ranked in the J.D. Power Survey for customer satisfaction.


Once a prospective customer begins shopping, they’re likely to compare lenders and search for the best offer possible. To beat the competition, engaging an interested prospect ASAP is critical.

But most mortgage companies don’t have the manpower to outbound dial and connect with all leads in a short time frame. And in an age where text rules over phone calls, many customers are unlikely to pick up the phone from a company they’ve yet to make a relationship with.

To automate the process — and make it more engaging — mortgage companies can supplement phone calls with a data-driven video. Take a look at how Rocket Mortgage, a consistently top ranked J.D. Power Primary Mortgage Originator, streamlines the acquisition process with the personalized quote video below.

Plain and simple, Personalized Videos drive conversion rates. By leveraging powerful customer data, the video is able to engage the viewer with valuable insight into what their custom solution will look like. And once they’re engaged, it’s more likely they’ll take the next step.

Another benefit? Research shows viewers remember about 95% of information they watch from a video, compared to only 10% they’ll retain from text. So when your prospective customer is thinking of their options, it’s more likely they’ll have your custom mortgage solution in mind.


Your customers have officially made one of their biggest financial decisions. Now that they’re about to embark on this long-term relationship with you, it’s important you set your customers up for success from the start — ensuring they can confidently manage their mortgage throughout the life of their loan.

Once your customer has closed on their new loan, it’s important they have a smooth onboarding process. By sending customers a personalized onboarding video, you can easily explain everything they need to know to confidently manage their mortgage, including:

  • How to navigate your website
  • What tools are available to them
  • When their first and future payments are due
  • The benefits of using auto pay, going paperless and timely alerts

For instance, here’s the dynamic video Guild Mortgage sent out to new members.

An email falls short in communicating a bunch of new — and complex — information. With so many terms and details to remember, reading it all can quickly become confusing.

Visual aids, on the other hand, have been proven to improve our comprehension — making a data-driven explainer video like this perfect for breaking down the important information you need to relay to your customers.

And if they need a quick reminder, they can refresh their memory by rewatching the video whenever they need.

Personalized Videos can be used to simplify information at other touchpoints, too. For instance, escrow is one of the most confusing parts of the servicing process. Customers are often confused as to why their payment is changing.

And mortgage companies have yet to find a way to solve this. The challenge remains: how can we make it easier for customers to understand their unique situation?

A data-driven video is the perfect solution, proactively answering a customers’ questions before frustrations can even arise. Check out how Mr. Cooper breaks down this confusing and complex situation with their personalized escrow analysis video.

The explainer video shows the viewer their changes in homeowner insurance and property taxes using their real numbers. By leveraging the numbers that matter most in a video that’s easy to watch, customers are given a clear, relevant explanation that transforms a point of friction to an opportunity to boost satisfaction.

What’s more, by allowing your customers to self-serve, you can ease the load off of your customer service center. We’ve seen mortgage companies who use Personalized Videos reduce call center volume by over 70%.

Increase Customer Satisfaction With Personalized Video

Because mortgage is one of the most complex industries, companies must take extra care to ensure consumers are satisfied — not frustrated — wherever they are in the customer journey. But these businesses deal with hundreds of thousands of customers every day. How is it possible to create a Personalized Video for every viewer?

To automate and scale the process, some of the largest enterprises have turned to leveraging the Next Generation Video Platform. With a 100x real-time rendering engine and robust APIs, you can deliver a message that resonates with every customer. Ready to boost your customer satisfaction? Speak to one of our team members to get started.

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