How Lenders Can Win Loyalty By Owning The Whole Home Journey 

Mortgage lending has shifted into an experience economy. Interest rates dominate conversations, yet only 29% of borrowers who complete a rate-and-term refinance stay with their current servicer, according to ICE Mortgage Technology’s July 2024 Mortgage Monitor report.  

Borrowers remember how they were treated long after they close their loan and that statistic signals a gap between closing a loan and keeping the relationship. Lenders that extend support beyond funding can turn that gap into a strategic advantage as owning the “whole home journey” is becoming a loyalty strategy that outlasts any market cycle. 

A support system that begins before pre-approval 

Borrowers want a single, dependable system that connects them with the right real estate professionals, delivers clear explanations of financing options and stores every document in one place.  

Once the property is under contract, that system should anticipate the next questions, including home insurance, utilities, internet, and smart-home protection as well as present curated resources rather than scattered referrals. The payoff is clear as 84% of borrowers consider no more than two lenders before choosing one. When the first interaction is seamless, loyalty becomes easier for the lender and less costly than reacquiring the same customer years later. 

Two forces reshaping expectations 

Digital convenience. Consumers manage banking, investing and shopping on a phone and they now expect mortgage interactions to feel just as intuitive. A secure digital ecosystem that provides real-time status updates, electronic disclosures and a live human help shortens cycle times and communicates operational strength. 

Connected-home adoption. Research from Parks Associates shows that 43% of U.S. internet households already own a security solution. As homeowners add cameras, sensors and automation, demand grows for bundled offers that save time and money. Lenders positioned at the center of the transaction can negotiate group pricing on these add-ons and deliver them to the customer.  

Turning overwhelm into trust 

Many first-time buyers face an information deluge the day they move in including mailers for furniture discounts, insurance solicitations and alarm system offers. Curating a concise list of reliable partners converts confusion into clarity and extends the credibility earned during underwriting. Education multiplies the benefit. Lightweight content that explains escrow changes, local tax deadlines and seasonal maintenance tasks keeps borrowers ahead of surprises, lowering avoidable service calls and reinforcing the lender’s role as a trusted guide. 

Service plus price, not service or price 

Competitive pricing matters, but borrowers frequently bypass the lowest quote if it comes with extra effort or uncertainty. Loyalty shapes where a fair rate intersects with speed, transparency, and problem-solving when automation falls short. The blend wins referrals and positions the lender for future transactions even in volatile markets. 

The operational playbook for holistic engagement 

1. Start digital, finish anywhere. Provide a digital-first experience for document uploads and status checks, then layer phone or chat support for nuanced scenarios. 
2. Map every post-close pain point. Insurance proof, utility activation, broadband setup and security installation touch nearly every customer. Negotiate preferred pricing with reputable providers and present those options to the customer. 
3. Convert education into push content. Deliver short, timely tutorials on escrow adjustments, tax filings, and maintenance checklists. Well-timed answers calm anxiety and reduce inbound calls. 
4. Track engagement beyond funding. Track uptake of ancillary services and solicit feedback. Customers who participate in whole home offerings are more likely to refer friends and return for future financing. 
5. Revisit the value equation regularly. Vendor pricing and consumer habits shift quickly. Continuous review keeps the service bundle relevant and competitively priced. 

Quantifying the upside 

2024 research from Qualtrics XM Institute estimates that bad customer service now threatens $3.7 trillion in global revenue each year, and 51% of negative interactions prompt consumers to reduce or stop spending with the brand that caused them. 

For lenders, the math compounds. Each retained borrower represents future purchase or refinance volume without the acquisition expense of a brand-new lead. Layer in the cross-sell potential of insurance, warranty, and connected-home services, and the economic case strengthens further.  

Delivering the kind of experience that drives retention and unlocks long-term value requires more than just competitive rates. Lenders that relieve post-close stress by coordinating insurance, accelerating utility switchovers, or securing smart-home discounts move from transactional partner to ongoing advisor. The result is stronger margins, steadier pipelines, and borrowers who return willingly when opportunity knocks again. Owning the whole home journey transforms a single loan into a lifetime relationship. 

Jeff Kvalevog is the Chief Strategy Officer at New American Funding.

This column does not necessarily reflect the opinion of HousingWire’s editorial department and its owners.

To contact the editor responsible for this piece: zeb@hwmedia.com.