Today, our CEO Clara Shih had the exciting opportunity to speak at the 2016 Mortgage Banking Executive Summit in New York City hosted by JPMorgan Chase to discuss the big changes taking place within the mortgage industry. The two-day event was attended by top executives and thought leaders across mortgage banking and financial services.
Clara was interviewed in a fireside chat by JPMorgan Chase & Co. CMO Kristin Lemkau. Other speakers included Mike Weinbach, CEO of Chase Morgan, Jennifer Piepszak, Chase Business Banking CEO, Bill Emerson, CEO of Quicken Loans, and Jamie Dimon, Chairman and CEO of JPMorgan Chase.
Clara provided insight on the importance of social media use by the mortgage industry in order to compete, remain viable, and transform the customer experience. Today, companies of all sizes can positively benefit from the visibility and usability that social media provides, and the mortgage industry is no exception.
Just like financial advisors and insurance agents, mortgage lenders and loan officers must leverage social media in order to be findable and responsive, as well as reinforce their value in an online world.
However, the fundamental difference, she says, is their primary targets are COIs—much like real estate agents and home builders—who are key referral sources compared to infrequent homebuyers who only engage for short periods of time based on an immediate need for a mortgage that may not arise again for decades. Companies that have a clear business purpose will empower their lenders and loan officers to leverage social media to connect with clients and prospects—both now and in the years to come.
View slides from the presentation below:
For additional insights, read how Hearsay Social is empowering mortgage lenders and loan officers to thrive in the digital era.
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