Salesforce Financial Services Cloud

Salesforce Financial Services Cloud for Mortgage is Key to Simplify Lending Process

Most borrowers find applying to the mortgage application process a time-consuming and tedious task with conventional financial institutions & lenders (who still use old manual working & error-prone patterns).

It might take them more than 40 days to close on a mortgage application since conventional lending institutions often have an overarching & manual document tracking & approval process, fragmented amongst various siloed departments.

Not everyone can sulk to this time-taking endeavour, especially the digital-first youth (who make up 37% of the home-buyer market). Luckily, the new and improved approach to mortgage sector-driven innovation by Salesforce is here to take care of the simple to complex lending tasks with automated & predictive intelligence tools & integration.

Now be it the independent brokers, loan officers, or even most prominent lending institutions, anyone can make their mortgage process more borrower-specific and much faster with the power of Salesforce’s mortgage innovation for the Financial Services Cloud.

It takes a lot to ride a mortgage industry while keeping up with loans, clients, properties, shifting customer expectations, property aggregation & downfall, changing regulatory requirements, keeping an eye on every aspect of mortgage banking. And to meet that, Salesforce mortgage innovation is the key.

Wondering why integrate Salesforce mortgage innovation? Let’s help you get a handful of reasons why this genius addition by Salesforce is a must for lending institutions.

What is the Salesforce Cloud for the Mortgage Industry?

Financial Services Cloud for the mortgage industry is a one-stop broader Salesforce Customer 360 platform that aims to streamline the mortgage process from the pre-application stage to post-close across sales, servicing, marketing, integration, application development & analytics.

dont miss out iconDon't forget to check out: What Is The Salesforce CRM and How It Enhances FinTech Industry

How Does Salesforce CRM Benefit the Mortgage industry? — The Real Question!

 The purpose of Salesforce CRM is to help the loan officers easily reach out to borrowers and help them engage in the application process through an integrated, automated & secure portal that supports fast & safe document collection & approval, embed lending institutions’ basic to intrinsic business processes, and give them a base of information to act upon.

The Salesforce CRM allows lenders to manage every aspect of their business in a single process. Since it is hosted over the cloud, it makes it accessible for lenders & borrowers to connect via internet-enabled devices with no hard & fast software to install.

The Salesforce Cloud gives employees instant access to all the customer data in real-time, which makes collaboration & application closure much faster. The CRM requires a simple username & login to get started with the features & benefits of this Salesforce CRM.

The CRM helps make the mortgage process digital, saving borrowers time and energy. Here are the few aspects of how Salesforce CRM benefits help the mortgage industry:

  1. It surfaces user data in one place, giving key insight into partner profiles & borrowers, thus optimizing the mortgage process.
  2. Offers streamlined case management, which helps in serving faster & fulfilled customer service.
  3. Data is centralized into the cloud, which makes it more accessible & secure for users from every corner.
  4. It gives multi-channel accessibility wherein users can listen to each other’s relevant conversations and respond or act as needed or desired.
  5. Offers intelligent predictive analytics, which helps in analyzing & forecasting the users’ future needs & behaviors.
  6. Offers advanced collaboration tools which regulate communication & cooperation between brokers, real estate agents, loan officers, borrowers.
  7. It offers a smart referral management system that makes it easy to take over new business, which contributes to better scaling & business growth.

To make the innovation more powerful, the AppExchange partners such as Blend, Roostify, and nCino integrate with this financial service cloud to ensure any pivotal data is easily transferred or exchanged securely between Salesforce & loan origination systems or any point-of-sale systems.

With such colossal integration, lenders can have a unified look into their borrowers or any insightful analytics that could strengthen borrowers’ relationship with them & maximize the productivity of the institution overall.

It accelerates the mortgage application process by integrating legacy systems that help borrowers engage. Via API-led approach to integration, lenders can get any borrowing history of a given customer that can help automate and carry forward the key mortgage processes like loan servicing, loan onboarding, underwriting, etc.

The cloud connects with MuleSoft APIs, which generates the loan file in loan origination systems in minutes securely. Do you know a customer of MuleSoft called Tic-tac was able to speed its loan application process to just 22 minutes?

Top 3 Salesforce’s Mortgage Innovation for Financial Service Cloud

Here is the Salesforce financial services cloud’s newly launched innovation that is designed to:

  • Streamline & accelerate the mortgage application process
  • Simplify document tracking & approvals
  • Build deeper and real-time relationships between lenders & borrowers

Mortgage Data Model

The Salesforce financial service cloud for the mortgage industry consists of the mortgage data model with 13 pre-built mortgage objects that make it easy for lending institutions to:

  • Capture vital information about the applicant’s address, employment details, and relevant income details.
  • Have a detailed understanding of the borrower’s household relationships, goals & overall financial accounts.
  • Develop opportunities for the lenders to win upon new market opportunities by generating needs-based referrals.
  • To witness consistency & streamline the application process at one single touchpoint.

Document Tracking & Approvals

The feature simplifies document collection with automated approval management and templatized checklists. The feature makes it easy for a loan officer and borrower to collaborate by following a streamlined checklist to ensure no task or document has gaps. Supposedly, if a certain document like W-2 is missing, it can be easily uploaded via a secure portal.

Guided Residential Loan Application

The feature provides borrowers and lenders seamless, step-by-step, pre-built actions which help to jot down relevant data. This feature makes the application process much more automated than previous times when officers had to upload all the data manually. Which mostly was subjected to clerical errors and made the borrowing process much lengthier.

The Salesforce financial cloud for a mortgage makes it easy to apply for loans without any errors and time delay, which closes the loans faster and helps borrowers get the key to their dream home much quicker.

dont miss out iconCheck out another amazing blog by SP Tech here: A Detailed Guide on Salesforce Health Cloud

Brands Who Trust and Believe in the New Mortgage Innovation for Salesforce Financial Services Cloud

Top brands who are already involved in Salesforce financial cloud for mortgage industry & their experience so far:


Derek Santana (global financial services advisory leader at PwC) says – “We were outright excited to bring this innovation to market with Salesforce so that our customers & clients could engage in a better, new & quite differentiated way.”

PwC has been partnering with Salesforce financial service cloud for a mortgage and specific value. They are quite happy with the mortgage sector-specific value being built into the platform, helping them explore every capability and keep up with the changes according to the changing environment.

Land Home Financial Services (LHFS)

Howard Sackson — Vice President of Business & Technology strategy at (LHFS) Land Home Financial Services says, “they are slowly stepping up to incorporate this innovation into their existing Salesforce-powered retail lending platform to enjoy its supremacy.” 

They are gearing up to set up a new online mobile responsive 1003 mortgage app form & an easy borrower portal on Financial Services Cloud. They believe that the addition of this innovation with their existing LHFS customer solutions and insurance innovation is going to give loan officers a 360-degree view of their customers in real-time.

Final Words on Salesforce Financial Services Cloud for Mortgage!

To enhance the mortgage origination process and help borrowers explore the digital mortgage process, Salesforce released its mortgage innovation. This mortgage innovation is much-needed for lending institutions who are still delved into old-school manual tracking & documentation and don’t have automated systems to look into customer data and make quick decisions.

With the power of smart tools and mortgage sector-specific capabilities, this mortgage financial service cloud can help mortgage banks improve their customer cycle, give the best customer experience, and automate their minutiae to complex mortgage banking tasks while moving their focus to core activities that require complete attention.

With digitalization gushing in, the mortgage industry and other industries are also under immense pressure to offer a digitized mortgage process to their customers. And to go about that, the best approach would be to integrate the existing loan origination system with the mortgage-focused capabilities & extensions of Salesforce’s financial services cloud now!


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