How Loan Officers Are Using Rate Update to Retain Clients and Scale Purchase Business
How Loan Officers Are Using Rate Update to Retain Clients and Scale Purchase Business
One of the biggest challenges loan officers face today is not lead generation. It is retention.
Most loan officers lose touch with past clients long before the next buying or refinancing opportunity appears. By the time those clients are back in the market, they have often forgotten who helped them last time or they are already working with another lender.
That exact problem is what led to the creation of Rate Update, a platform designed to help loan officers stay visible, relevant, and top of mind with both past clients and referral partners.
A Major Platform Update and Expansion
Rate Update recently completed a major infrastructure upgrade, migrating its email system from SendGrid to Mailgun. This change allows for better email deliverability, custom subdomains for every user, and stronger protections against spam issues.
As part of this update, approximately 160 new users are being onboarded into Deven Gillen’s agency dashboard through Hova Digital. Each user will receive a branded Rate Update account that only requires creating a password to get started.
The rollout is happening over a short window, and users are encouraged to watch for their login email as accounts are activated.
The Hova Digital and Rate Update Partnership
Through a new partnership between Hova Digital and Rate Update, Hova clients receive six months of free access to the platform.
The integration is fully co-branded, meaning loan officers maintain their personal brand while leveraging Rate Update as a client-facing tool. After the six-month period, users can continue at a reduced monthly rate with no long-term commitment.
This partnership is designed to remove friction and allow loan officers to test a retention-focused system without upfront risk.
What Rate Update Actually Does
At its core, Rate Update is an interest rate digest that loan officers send to past clients and referral partners.
Instead of disappearing after closing, loan officers stay visible by consistently sharing market insights, rate trends, and context around what is happening in the mortgage market. This positions the loan officer as the authority clients trust when decisions need to be made.
The platform includes:
Branded weekly rate digest emails
A dashboard showing email engagement and activity
Customizable rate margins relative to national averages
A top-of-funnel landing page for lead capture
CRM integration for follow-up and segmentation
The goal is simple. Control the rate conversation before someone else does.
Why Retention Is the Real Growth Lever
On average, loan officers lose a large percentage of past clients each year. Most of the time, it is not because of a bad experience. It is because the client forgot who their loan officer was.
When buyers start their search again, they often begin on platforms like Zillow or Redfin, talk to an agent first, or respond to another lender who stayed visible.
Rate Update exists to solve that problem by keeping the loan officer consistently present during the quiet years between transactions.
Building a Purchase-Focused Business
Alex Hernandez shared how he scaled production to over $60 million without a loan officer assistant by focusing on efficiency, clarity, and purchase business.
A key part of that strategy is working backward from a clear production goal and identifying exactly how many referral partners are needed to support it.
Instead of chasing dozens of unproductive relationships, the focus is on a defined buy box of agents who are actively closing buyer transactions.
The Dream 20 Strategy
One of the most effective frameworks discussed is the Dream 20 strategy.
Each quarter, loan officers identify 20 target agents who fit their ideal referral profile. The goal is to build real familiarity through consistent engagement across social media, email, and direct outreach.
This includes:
Following and engaging with agents online
Sending consistent value-based communication
Using tools like Rate Update to stay visible without being intrusive
Even converting half of that list can provide enough referral volume to support a strong purchase pipeline.
Using Data to Strengthen Agent Relationships
Instead of guessing which agent relationships matter, production data helps loan officers prioritize their time.
Tracking agent production allows for better conversations, such as identifying when an agent’s volume is trending down and offering support that helps them close more deals.
This shifts the relationship from vendor to business partner.
Turning Visibility Into Inbound Opportunities
Rather than relying solely on cold outreach, loan officers are increasingly using inbound strategies.
One approach discussed was running long-form video ads targeted directly to specific agents or agent lookalike audiences. These ads function as open letters, explaining how the loan officer helps agents convert more buyers and close more transactions.
By the time an agent reaches out, trust is already established.
Cost-Effective Lead Generation Through Agent Ads
Another strategy shared involves running ads on behalf of agents, with the agent covering the ad spend.
The loan officer handles setup, tracking, and follow-up systems. Leads are shared between the agent and loan officer, creating a win-win scenario with minimal personal ad cost.
Tracking Activity and Timing the Conversation
One of the most powerful features of Rate Update is visibility into engagement.
Loan officers can see who is opening emails, how often they are opening them, and when activity spikes. This often signals a buying or refinancing window.
The platform also includes strike rate alerts, which notify loan officers when a client’s existing rate is close to current market rates. These alerts can be pushed directly into a CRM for timely follow-up.
Co-Branding With Agents
Rate Update supports co-branded emails with real estate agents, allowing loan officers to send rate digests directly to an agent’s client list.
This reinforces the partnership and helps both parties stay relevant with buyers while maintaining consistent messaging around rates and affordability.
Clear Communication Wins in Any Market
One recurring theme was the importance of confident communication.
Avoiding negative language about rates and focusing instead on solutions like buydowns, strategy, and timing helps agents and clients move forward with clarity.
Agents want partners who help them close deals, not just quote rates.
Final Thoughts
The combination of Rate Update and Hova Digital is built around one core idea. Sustainable mortgage growth comes from retention, visibility, and strong partnerships.
By staying present with past clients, focusing on the right referral partners, and using data to guide outreach, loan officers can build a purchase-focused business that scales without chaos.
In a crowded market, the loan officers who win are the ones who are remembered.
