After conducting two rounds of layoffs, Keller Williams’ lending arm looks to grow its business by making a popular lead conversion tool available to all of its loan officers.

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After conducting two rounds of layoffs, Keller Williams’ lending arm Keller Mortgage looks to grow its business by making a popular lead conversion tool, Mortgage Coach, available to loan officers enterprise-wide.

Mortgage Coach helps lenders convert leads into borrowers by providing “total cost analysis” presentations, side-by-side comparisons of loan options that model the costs and benefits of mortgage loans over time. The company says it can help lenders turn the conversation “from price to advice,” reducing rate shopping, eliminating unnecessary discounts and increasing production.

Joe Puthur

“We are proud that Keller Mortgage has selected Mortgage Coach to support its top-tier technology infrastructure, modern lending experience and growth in the mortgage market,” said Mortgage Coach President Joe Puthur in a statement. “Mortgage Coach’s customizable, digital loan presentations change the conversation between a borrower and a loan originator from price to advice, which builds trust and enables lenders to win business in any mortgage market.”

Like many mortgage lenders Keller Mortgage has been downsizing in recent months as rising mortgage rates put an end to the pandemic-era refinancing boom and also threatened to curb demand for purchase mortgages, as would-be homebuyers see their buying power diminished.

After nearly doubling the company’s payroll to 1,000 employees Keller Mortgage laid off 150 new recruits in October, followed by another round of layoffs in May that affected an undisclosed number of employees.

Now, every remaining Keller Mortgage loan officer will have a new tool to close more loans, said President of Keller Home Financial Services Dave Smith.

Dave Smith

“Keller Mortgage is dedicated to providing borrowers with the world-class service and results for which the Keller Williams brand is internationally renowned,” Smith said in a statement. “With Mortgage Coach, our loan officers will be able to better build and communicate mortgage strategies that help borrowers get into the home of their dreams.”

Before signing on to lead Keller Williams’ mortgage and insurance offerings in March 2021, Smith was a key mortgage executive at Citi where over 13 years he rose to become president and CEO of CitiMortgage Inc., according to his LinkedIn profile. As a result of the leadership shuffle following last month’s departure of Carl Liebert as CEO of parent company kwx, Smith reports to company co-founder Gary Keller.

Last month Mortgage Coach announced a merger with automated retention software provider Sales Boomerang, which followed on the heels of an $80 million investment in both companies in January by private equity firm LLR Partners. Sales Boomerang tracks data, such as interest rate changes, credit scores and home listings to notify mortgage lenders when past clients may be ready to refinance or buy their next homes.

Mortgage Coach has announced a number of new clients in recent months including:

  • Mortgage Markets CUSO (credit union service organization) provides mortgage lending services to more than 15 credit unions.
  • Logix Federal Credit Union is a Los Angeles County-based credit union with more than 225,000 members and nearly 200 registered mortgage loan officers.
  • ReverseVision, a subsidiary of Constellation Mortgage Solutions Inc., provides technology to reverse mortgage lenders and investors including banks and credit unions, mortgage brokers and independent mortgage banks.
  • Planet Home Lending LLC is a national mortgage lender and servicer based in Meriden, Connecticut.

Mortgage Coach has also implemented several new integrations with applications including Surefire, Black Knight’s customer relationship management and marketing automation software; ICE Mortgage Technology’s Encompass; First American Title; HomeBinder; and LoanSense.

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Email Matt Carter

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