Capital Lending


Capital Lending Centre makes getting a mortgage easier with Salesforce

Taking out a mortgage to fund a new home can be a time-consuming process both for the borrower and the broker. But thanks to Capital Lending Centre (CLC), the process just got a lot easier for millions of Canadians.

“We’ve cut mortgage application processing times by around 30% by taking a more automated and digitalized approached,” explained CLC’s CEO Shubha Dasgupta. “We want to empower mortgage brokers and agents to work as productively and effectively as possible.”

In the two years since it was founded, CLC has already smashed industry averages for revenue rates per broker and the time it takes for them to complete their first deal. Empowering its 170-plus brokers with the right tools and insights was key to achieving such rapid success. 

CLC brings everything together with Salesforce.

When mortgage industry gurus Dasgupta and COO Kendall Marin launched CLC in 2017, they started with a fragmented collection of IT solutions. “It was a real Frankenstein system - and it wasn’t remotely scalable,” revealed Dasgupta.

As broker and borrower volumes increased, CLC needed a more unified approach. In early 2018, it amalgamated all its systems on to a single platform. “We are a progressive business and wanted a solution that could evolve with us,” said Dasgupta. “Salesforce was the only platform that could bring everything together to meet our current and future needs.”

And Dasgupta really does mean everything. The team at CLC use Salesforce to track and process mortgage applications, engage with brokers and borrowers, coordinate training, monitor compliance, generate reports, and manage payroll. “We had a grand vision of what we wanted to achieve; the Salesforce team helped us work out where to start and to find the best implementation partner,” explained Dasgupta. 

We’ve cut mortgage application processing times by around 30% by taking a more automated and digitalized approached.”

Shubha Dasgupta, CEO, Capital Lending Centre

Empowering brokers to grow their business.

Unlike other mortgage organizations, CLC is focused on ensuring both brokers and borrowers enjoy a great experience. “Our brokers are self-employed contractors and we are committed to setting them up for success,” said Dasgupta. “Around 80% of mortgage brokers in Canada don’t make it past their second year in business. At CLC, we provide brokers with the tools, technologies, and insights they need to build deeper customer relationships and close more deals.” 

Online community helps to keep mortgage applications on track.

Processing mortgage applications as quickly as possible is a top priority for brokers - and borrowers. “A lack of visibility of deal status can result in a time lag,” explained Dasgupta. “We’ve created a central deal processing team to support brokers so they can provide a great experience to borrowers.”

The deal processing team use Service Cloud and Salesforce Inbox to log updates and documents from key stakeholders, such as banks and real estate agents. The industry average for technology adoption for central servicing teams is around 15%; at CLC it’s nearer 80%.

Brokers can also check on the status of individual deals using Chatter and Community Cloud. “We’ve removed the black hole that often exists around mortgage applications,” said Dasgupta. “With Community Cloud, brokers can provide borrowers with accurate updates on the status of their application.”

CLC blazes a trail in broker training with online knowledge.

CLC has also made it easier for brokers to learn about the thousands of different mortgage products available from Canadian lenders. “Training is fundamental to the services that we provide to brokers,” explained Dasgupta. “They often spend their first 18 months as a broker learning policy and product guidelines, which limits the time spent on business development and customer engagement.”

With Salesforce Communities, CLC has created the largest free mortgage knowledge bank in Canada, which includes product overviews as well as training resources for marketing, sales, and self-improvement. “Brokers can now access the right knowledge at the right time, which has helped to halve the time it takes for them to complete their first mortgage deal.” said Dasgupta. 

Personalized content boosts engagement.

To make learning a daily event, CLC uses Pardot to embed training notifications and journeys into the mortgage deal lifecycle. “When a broker picks up a new lead from a referral partner or borrower, we ping them personalized tips and templates as they move through the deal pipeline, which helps to boost the chance of conversion,” explained Dasgupta.

Personalized journeys are also key to CLC’s marketing efforts with both prospective brokers and borrowers. “With Pardot, we can segment audiences and tailor communications much more easily and effectively. It makes our marketing efforts laser-focused,” said Dasgupta. As a result of this focus, CLC has achieved a 75% email engagement rate with the different professions involved in a mortgage transaction and up to 50% with borrowers. 

Brokers close three times as much business compared with industry average.

CLC has come a long way in two years - it already has seven offices in North America and processes around 150 mortgage deals a month. But success is not just about volume; it’s also about deal value. On average a mortgage broker in Canada funds $2.1 million worth of business a year; at CLC it’s nearer $6 million. “With Salesforce, our mortgage brokers are free to fly. It has reduced the administrative burden so they can focus on growing their business and their relationships,” said Dasgupta.

Growth is a big priority for CLC too. With Sales Cloud Lightning, CLC can track its efforts to sign up more brokers and partners and create engagement journeys to maximize conversion. “Everyone loves how we’ve been able to bring more automation to day-to-day tasks,” commented Dasgupta. “If you can dream it, you can deliver it with Salesforce.”

CLC thinks bigger and adapts faster with Salesforce.

For CLC, the next dream involves AI. It has already seen the potential through the integration of Salesforce Inbox and Gmail. “We can use AI to identify and push important emails to the top of a broker’s inbox on their mobile to ensure they don’t miss anything,” explained Dasgupta.

The team at CLC will use Trailhead and Salesforce Accelerators to help them understand how Einstein and other solutions could further transform the broker and borrower experience. “We are big thinkers and want to keep harnessing the power of technology and data,” said Dasgupta. “With Salesforce, we can increase fluidity and productivity. It helps us pivot quickly and easily as our business evolves.”

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