National mortgage lender, Envoy Mortgage, continues their streak of industry success by achieving another year of accomplishments surrounding areas of brand exposure, loan origination, recruiting, customer experience and technological advancements. These focus areas, along with enhancements and process improvements continue to widen Envoy’s capacity for growth and places them at the forefront for providing an optimal digital consumer mortgage experience.
In 2019, Envoy saw considerable operational transformations as they launched upfront underwriting, a synchronized approach to the consumer mortgage experience. Upfront underwriting is designed to create efficiencies and reduce the redundancy of the loan process, resulting in a final approval up to 12 days faster!
Additionally, Envoy launched EnGen, an intuitive digital mortgage application that validates borrower income, asset and employment documentation from any desktop or mobile device, anywhere. Since launch, consumers have received a notable reduction in application completion time from 30 minutes to 10 minutes, shaving three to five days off the overall time from application to underwriting by eliminating surprises and receiving a 60% increase in upfront documentation.
“Envoy’s focus on technology modernization is a key contributor in helping loan originators conduct business efficiently in the way that best fits their marketplace. We want to ensure that the consumer can do business with Envoy how, where and when they want, and our digital capabilities provide a platform to facilitate that philosophy,” said Dan Mulberry, Envoy CIO.
This past year also marked the beginning of Envoy’s market intelligence system for originators, Vantage. Vantage allows Envoy loan originators access to strategic data and insights on top local real estate agents and loan originators, allowing for efficient recruiting practices. Once live, the system’s first 30 days contributed to an overall platform usage of 5,610 logins across 86 users.
Envoy’s dynamic recruiting efforts continue at an upward slope with the on-board of 20 new branches, the expansion of national territories and the appointment of 200 new team members.
Envoy successfully continues their perfect streak of customer experience as results from their online review platform displays over 5,8000 customer reviews with a 4.9/5 ranking and a 54.35% survey completion rate (higher than the industry average). Envoy maintains their unyielding customer service efforts by facilitating an adoption rate of 80% for the platform and keeping consistent communication with borrowers after closing as survey results disperse in real-time across the web.
Additionally, Envoy’s Mobile App has provided more leads for loan originators by presenting a seamless mobile solution that provides personal branding, customer tools, mortgage calculators and custom application links. Year to date, unique profile links were shared more than 9,200 times and 34,000 mortgage calculations were completed by customers through the application.
Other web optimization efforts included increasing engagement with business listings on third-party websites, resulting in a 45% increase in engagements and more than 600,000 profile views. By implementing these strategies, Envoy was able to collect more than 24,000 new reviews for their loan originators, a 42% increase, with an average rating of 4.9 stars.
To end an exceptional year, Envoy’s marketing associates continue to evolve their proprietary digital technology marketing suite, EDGE and CRM with best-in-class tools, resources, trainings and shareable content. Year to date, Envoy’s CRM has undergone 17 major product enhancements and expanded by over 800 new realtor connections, while EDGE experienced an impressive increase in asset downloads, reaching 13,000, with a nearly 30% rise in digital asset delivery year to date.
“Through industry-leading technology and new process improvements, 2019 was a banner year for Envoy. The progress we’ve achieved this past year regarding our end-users’ digital mortgage experience truly sets us ahead of the pack. Equipping our sales experts with the tools they need to gain and retain more business has been a top focus; we look forward to seeing those efforts materialize in the coming year,” said Melody Warren, Envoy marketing director.
About Envoy Mortgage
Founded in 1997, Envoy Mortgage is an independently owned national mortgage lender headquartered in Houston, TX. As a Fannie Mae, Freddie Mac and Ginnie Mae approved seller/servicer, Envoy branches offer a full menu of loan products with locations across the U.S. Licensed in 49 states, Envoy branches provide outstanding customer service from dedicated team members who offer a full menu of loan products with the tools, expertise and technology needed to support all functions of the mortgage process. More information is available at www.envoymortgage.com. Envoy Mortgage, Ltd. NMLS #6666.