“Relationships matter“ has been the motto of Diamond Residential Mortgage Corporation (DRMC) since its inception in 2009. Diamond Residential Mortgage Corporation strives to preserve this core value while growing and embracing new technologies. One area of focus is the digital age of mortgage loan origination which brings to mind this question:
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How do you transition into the digital age of mortgage loan origination while preserving this core value?
Paul Diamond (CEO) and Richard Smith (CPO) posed this question to Matt Eskew in the fall of 2019. Matt has spent the last 15+ years of his professional career fully immersed in analytics and digital marketing. His roles span from managing performance-based marketing campaigns for fortune 500 companies to managing multimillion-dollar budgets for digital retailers to, most recently, running a lead generation company in the financial services vertical. So, when Matt approached DRMC in the late summer of 2019, he was looking for an opportunity to build a digital channel that optimized the borrowers’ experience from their first click to post-close.
Matt’s approach to digital marketing has always been very hands-on. He embraced the opportunity to build a digital channel at DRMC by achieving full licensing as a mortgage loan originator. After personally beta testing the lead program and optimizing it for over two years while successfully closing nearly 100 loans, the lead program moves out of beta testing and is offered to the DRMC branches. Matt has been promoted to the Director of Digital Strategy and will continue to manage the online lead program at DRMC.
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The lead program is built around the strengths of DRMC. We value the strong relationships our loan officers have established in their local communities and the financial expertise they provide to their referral partners and borrowers. The program’s goal is to strengthen the loan officers’ position in the market. We see a hyper-aggressive market competing for business online. This has resulted in an impersonal rate-driven approach with companies compromising quality, relying too heavily on automation, and unqualified customer service call centers. We believe this does not result in the best customer service and financial advice for the borrowers and is a zero-sum game DRMC does not want to play.
Instead, DRMC is marketing niche programs and focusing on solutions-based digital marketing. We use targeted digital marketing methods to reach users looking for specific products and/or solutions and connect them directly to a local, fully licensed loan officer.
Quote:
“Most lenders that provide company leads are sourcing leads for FHA and conventional loans which are highly competitive. The beautiful thing about the leads Diamond Residential Mortgage Corporation provides is that they are sourcing leads on niche products with little to no competition. This improves conversion ratios.” – Jennifer Goldsby, VP, Renovation Lending
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