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Category: Press

Assurance Financial: A Case Study in Customized Business Intelligence for Mortgage
Articles by: Richey May, Aug 04, 2020

In 2018, Assurance Financial was experiencing a time of growth and it became clear they needed customized business intelligence for mortgage. After a complete brand overhaul, including a new website and point of sale experience, Assurance was ready to grow and expand into new markets. Further, leadership wanted to expand their financial services offerings and add a consumer-direct origination division within the company.

To plan for expansion successfully, the leadership team needed accurate data and actionable insights.

Assurance Financial had some level of reporting through Encompass and limited pipeline reports through Motivity. They could pull basic numbers, like current volume and pipeline, but were lacking the kind of deep insights needed to find operational efficiencies.

Assurance was looking for a partner to solve their most pressing challenges with data, including:

  • Lack of Trust In Data
  • No Shared Views
  • No centralized BI team
  • Technology that didn’t work together

After evaluating several business intelligence offerings, Assurance chose to partner with RM Analyze.

Learn more about Assurance’s experience with implementation one year in, including their new digital application process, and how they achieved growth in their desired business areas.

Case Study – Assurance RM AnalyzeDownload

Our RM Analyze team is staffed with data analysts with mortgage company experience. Our solution is built to cater to the needs of mortgage companies, with pre-built reports to get you started fast and customization from expert consultants.

“The technology has helped us convince the LOs to be more customer-centric because we can see what customers like and respond well to.” Katherine Campbell, Chief Digital Officer at Assurance Financial

By specializing in customized business intelligence for mortgage, our team can provide deeper insights from your data, not just pipleine reports that look backwards.

“We were originally hoping to replace Motivity, but RM Analyze was so robust our goal evolved to fit with that.” Steve Ward, Chief Operating Officer of Assurance Financial

Assurance Financial Expands to
Dallas, Texas Area

BATON ROUGE, LA – June 10, 2020

Assurance Financial is now in the Dallas, Texas area, expanding its reach and lending ability in the southwestern region of the country.

The new branch will be manned by Julie Perkins, branch manager, and Mason Clinesmith, loan officer. Julie Perkins joins Assurance Financial with nearly 10 years of mortgage industry experience, and she is ready to jump in and help our borrowers close on the homes of their dreams.

“I am so excited to work with all of the technology at Assurance Financial, and to be able to offer it to my borrowers. I look forward to helping them close their loans on time, every time,” said Perkins.

Being a lender in the digital mortgage movement, Assurance Financial offers a 15-minute online application that borrowers can easily complete on their mobile device. Also, their lightning-fast closings include the ability to preview and sign closing documentation before the closing.

“Assurance Financial intends to continue growth even in light of the recent pandemic as our strength lies in liquidity and nimble servicing due to our technological advancements,” says Kenny Hodges, President and CEO.

Based out of Baton Rouge, La, Assurance Financial boasts licenses in 44 states.

Assurance Financial Expands to
San Antonio, Texas

BATON ROUGE, LA – May 18, 2020

Assurance Financial is now in San Antonio, Texas, adding a second brick and mortar presence and the ability to assist Spanish speaking borrowers to the Lone Star State.

The new branch will be manned by San Antonio natives, Robert Rodriguez, branch manager, and David Martinez, loan officer. Rodriguez joins Assurance Financial with over 15 years in the mortgage industry and is thrilled to be part of the Assurance family.

“I am thrilled to be able to offer my borrowers the latest technology in lending, easing their burden when searching for a mortgage. I look forward to closing their loans on time—every time, and giving them world-class customer service with each transaction,” said Rodriguez.

Being a lender in the digital mortgage movement, Assurance Financial offers a 15-minute online application that borrowers can easily complete on their mobile device. Also, their lightning-fast closings include the ability to preview and sign closing documentation before the closing.

“Assurance Financial intends to continue growth even in light of the recent pandemic as our strength lies in liquidity and nimble servicing due to our technical advancements,” says Kenny Hodges, President and CEO.

Based out of Baton Rouge, La, Assurance Financial boasts licenses in 44 states.

Assurance Financial Earns Spot in Top 10 on SocialSurvey’s Top Mortgage Companies for Customer Satisfaction in 2019

BATON ROUGE, LA – May 13, 2020

SocialSurvey has named Assurance Financial one of America’s top-ten medium-sized lenders of 2019 for customer satisfaction after receiving a 4.92 average rating from nearly 5,000 reviews.

Assurance Financial is also proud to announce that senior loan officer, Tim Dubnansky, out of Baton Rouge, Louisiana, was ranked among the top 250 loan officers using the review platform, placing him in the top one percent of mortgage originators using the platform nationwide.

With more than a million reviews for more than 30,000 loan officers across 200 companies nationwide, Assurance Financial considers it a great honor to be included among America’s top-ten medium-sized lenders.

“I am not shocked,” Assurance Financial CEO, Kenny Hodges, said. “Our team prides itself on providing world-class customer service for all of our borrowers.”

According to SocialSurvey, the results are based on completion rates, number of reviews, and the star ratings submitted to the platform by verified customers.

“Our unique benchmark celebrates those outstanding mortgage companies and loan officers who deliver consistent WOW-worthy experiences for their clients,” SocialSurvey CEO, Scott Harris said. “I’d like to congratulate the winners and all 40 companies for consistently delivering the industry’s highest level of experience-driven customer satisfaction. It’s an incredible achievement.”

Read all of our reviews here.

Should Baton Rouge homeowners refinance as coronavirus fears push down rates?

By Caitie Burkes, The Greater Baton Rouge Business Report | Tuesday, March 3, 2020

 

Stock market fears about the coronavirus have helped push mortgage rates to near all-time lows, which local lenders say gives Baton Rouge homeowners who refinance an opportunity to lower their monthly bills.

The yield on the 10-year U.S. Treasury is nearing 1%, and mortgage rates have fallen about a full percentage point over the past year. Moreover, the Federal Reserve cut its benchmark rate this morning to a range between 1% and 1.25%.

“If there was ever a time somebody was looking to do home improvements, take equity out of their home, purchase a home or reduce their rate, get off the fence and do it now,” says Kenny Hodges, president and CEO of Assurance Financial.

Rates on a 30-year fixed mortgage have dropped from about 4.5% to around 3.5% over the past year, which effectively makes the same-priced house from a year ago more than 10% cheaper today in monthly mortgage payments.

Hodges says Assurance Financial had its largest-ever lock month in the company’s 19-year history in February, with Monday marking the company’s single-largest lock day ever, breaking its previous one-day record by more than 25%.

“If there is a silver lining to the coronavirus, it’s that it’s created an ideal time for people to either refinance their mortgages for great rates or purchase a new home,” he says.

Furthermore, as purchasing season begins, the sharp drop could also give prospective homebuyers a chance to afford the house they’ve been eyeing.

Tee Brown, president and CEO of GMFS Mortgage, says refinancing makes sense for local individuals planning to stay in their homes for a long time, noting they now have the chance to save several hundred dollars a month by either going from a 30-year mortgage to a 15-year mortgage, or by refinancing their entire 30-year mortgage.

“Evaluate where the interest rates are and what you can qualify for, and take advantage of these historically low rates if it economically makes sense,” Brown says. “Get a free quote and see what you might be able to accomplish.”

GMFS has seen a 100% increase in locks over the past two weeks, says Brown, rising from about $300 million in locked rates a given month to $600 million amid the coronavirus outbreak.

If the 10-year Treasury declines even further, mortgage rates could drop more, too, though they don’t always follow the government benchmark exactly.

Webinar: Using Customer Data to Thrive as a Lender of the Future

 

“It’s time to get it right,” remarks Katherine Campbell, VP of marketing at Assurance Financial, during our webinar, How to thrive as a mortgage lender of the future. “Everybody has made a major investment in technology, and we now have to start figuring out some ROI.”

Watch as Campbell and Katy Keim of LQ Digital continue the conversation, discussing strategies for mapping the customer journey to modernize your lending experience while acquiring ideal consumers. Collectively, they present a compelling case for leveraging data to make informed decisions that align with your unique customer base.

Watch the webinar: 

Updating the customer experience starts with knowing your customers. Build an ideal customer profile that incorporates information such as age, lifestyle, and features they’re looking for in a home. For example, are they first-time buyers or are they upsizing for their second home?

Once you know who they are, you’ll want to put yourself in the borrower’s shoes to understand their perspective. This will help you and your team glean what the borrower is looking for, which allows you to appropriately shape your communications. The messaging you use to interact with your customers is key to the new and improved journey you’re creating. Watch the webinar to dive deeper with Campbell and Keim and learn how to build out this journey.

The webinar explores ways to align your business practices with the various customer journeys you aim to serve. Learn how to:

  • Develop the ideal customer experience
  • Design communication flows that make sense for your customers
  • Define and evaluate metrics to reinvent the borrower journey