Lending

Bridging the Cultural Opportunity Along the Customer Journey in Mortgage Lending

5 mins read
December 4, 2018
By
Total Expert

In 2017, 46.2% of Latinos in the U.S. owned a home—more than 7 million in total. Hispanics are the only demographic to have increased their rate of homeownership for the last three consecutive years.

There’s a common misconception that since the Hispanic population in the U.S. has slowly shifted from first-generation immigrants to their U.S.-born children and grandchildren, Hispanic languages and cultures are becoming less relevant from a marketing standpoint.

That’s simply not true.  

In fact, according to the Facebook IQ study conducted by Latinum Network, 80 percent of Hispanic respondents said they didn’t feel the need to stop speaking Spanish to be part of American culture and seeing ads in Spanish versus English significantly increased their interest in purchasing products.

When it comes to buying a home, 25 percent of Hispanic buyers say they would prefer to work with a real estate agent who can assist them in Spanish.

The writing is on the wall – and it’s all about personalizing your messaging to consumers and tailoring the customer experience – sometimes in another language.

Hispanics in the U.S. are still very much tied to their linguistic and cultural roots.

Too often organizations assume they can replicate and implement the same marketing and sales campaigns for this segment of the market simply by translating them word for word. But doing so ignores the often-subtle differences that exist between markets.

Here’s how your producers and their co-marketing partners can capture the Hispanic homebuyer market.

Literal Translations Are Never Enough

Like English-language marketing, your translations must sell, charm and win over your target market. It’s not enough to translate your website or your marketing campaigns word for word into Spanish.

In fact, doing so can have disastrous results. Marketing campaigns must be adapted for regional – or local – consumption and cannot rely on literal translations, using a process called localization.  

Although Spanish may be a common language on the surface, there are actually 21 countries that speak Spanish. Each one has its own dialect and cultural implications. In the U.S., the dialect of Spanish spoken usually differs by region, typically affected by the countries of origin of those that most often migrate to those regions. For example, a heavy Cuban influence in Florida may require a different translation than for Los Angeles, where there is a stronger Mexican influence.

Avoid Stereotypes in Advertising and Messaging

While some marketers and salespeople may view Hispanics as a single demographic group, the reality is that a single Hispanic or Latino consumer may embody a complex mix of cultures.

It may seem obvious, but avoid stereotypes when marketing to the Latino community, instead seeking to incorporate customs and traditions without playing to the lowest common denominator, or worse, committing cultural appropriation. Ensure everything included serves a purpose and can contribute toward a broader cultural context.

To do this, it can help to work with an outside team that has the multicultural insights and experiences to inform, shape and guide the creative process to minimize the risk of backlash during a marketing campaign.

Tailor Messaging to Speak to Wants, Needs, Values

In the same vein as the linguistic and geographic diversity of Hispanics in the U.S. mentioned above, there are also generational nuances when it comes to cultural identity and the decision to use Spanish in marketing campaigns.

For example, a first-generation Hispanic may need a comprehensive email nurture that demystifies the American homebuying process, in Spanish, whereas a second- or third-generation Hispanic may be morefamiliar with the homebuying process in the U.S. and only require supporting documents in Spanish in the likelihood they seek guidance from older family members. More nuanced still, whether they need it or not, they might appreciate Spanish-language marketing campaigns as many second- and third- generation Hispanics seek to retain ties to their linguistic and cultural heritage. Marketing to these groups should be more about ‘and,’ not ‘or.’

Marketers must offer a true reflection of what it means to be Hispanic in their marketing campaigns, so that they speak to Hispanic traditions and American culture.

Poised for Prosperity

Authenticity isn’t a trend. Personalization isn’t a fad. The U.S. Hispanic audience will only gain cultural and economic prominence in the coming years. A strong commitment to serving a diverse population is a business strategy that pays.

Although this is not a definitive guide for marketing to the U.S. Hispanic homebuyer market, marketing and sales professionals in mortgage lending would be well served to remember these best practices as they seek to build relationships with and expand their business to include the Latino community.

Maria Vergara is an experienced sales professional with 20 years experience in financial services, public relations, non profit management, training and consulting. She specializes in diverse markets, with emphasis in the U.S. Hispanic market and has been recognized for achieving and exceeding sales goals while maximizing profits.

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AI is no longer a future state—it’s already here, embedded in everything from ride-sharing apps and food service to factories and farms. In the world of financial services, though, this ubiquity comes with pressure to integrate AI fast, appear innovative, and keep up with competitors—all while being mindful of evolving federal and state compliance requirements. Moving fast without a plan or awareness of up and downstream implications often leads to AI-enabled solutions that either underdeliver or don’t deliver at all.

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Where enterprise AI goes wrong

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Let’s make one thing clear: not all AI is created equal.  

Chatbots have been commonplace in financial services for a decade now, but remain rigid, rule-based tools that handle repetitive tasks.  I’ve worked with “AI” services for more than 15 years and each had their own place and potential when used properly. Herein lies the opportunity. Modern lenders that are focused on retaining and growing their customers in an ultra-competitive market need something more dynamic. Enter AI agents that can understand context, adapt on the fly, and speak in a human-like way. These agents are coachable, brand-aware, and learn from every interaction. They don’t follow scripts—they think in real time. And when built correctly, they become a seamless part of your customer experience.

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Before choosing any AI solution, or any technology solution, financial services firms must ask themselves: What business problem are we solving?

For example, when mortgage rates dropped for a few weeks in September 2024, our customer intelligence capabilities identified nearly $2 billion in immediate refinance opportunities. But no team of loan officers could scale quickly enough to reach every qualified lead. That’s where AI tools prove invaluable—automating first-touch outreach at scale, surfacing the best opportunities, and empowering human teams to scale up execution to drive retention and growth.

Why embedded beats bolted-on

The types of AI-enabled solutions we are talking about can’t function effectively in isolation. Without access to timely and accurate customer data, and invoked within a specific workflow process, it can’t personalize interactions, anticipate needs, or drive conversions at the right time.

Picture an AI assistant offering a refinance to a customer, only to stall when asked for more details. If it doesn’t know the customer’s current rate or financial profile, the experience feels hollow. That’s not just ineffective—it damages trust.

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Generalist AI offerings can be a gamble that increase costs—and time to value

Implementing AI that’s not purpose-built for financial services introduces two major risks:

1. Usability failure: Your team must spend months customizing and configuring a generalist AI tool to make it work for your specific needs—if it will ever work at all. For example, imagine you’re a loan officer and one of your referral partners introduces you to a borrower. Now, you have to choose the best way to approach the first conversation with this borrower. There are countless permutations of questions and answers which all require deep personalization, compliance awareness, and consistent representation of the sales processes and brand tone of the lender. Generalist AIs will quickly reach their limitations in these complex use cases.

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2. Compliance risk: Without built-in industry guardrails, you’re gambling with regulatory violations and brand safety.  As we know, the compliance landscape for financial services is broad and evolving at the federal and state level.  Look for AI offerings that are regulatory aware and enable you to configure them based on your organization’s risk tolerance and interpretations.

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Ask these questions before you commit to an AI offering  

To maximize the probability of success, here’s a quick checklist for vetting solutions:

  • Can it solve a real, high-value business problem, and how? Review specific examples and ask to speak with other organizations that have implemented the tool.
  • Does it function as a true AI agent, not a static bot?
  • Can it be deeply integrated into your core system(s), workflow orchestration, and data?
  • Does it include financial industry compliance and brand guardrails?
  • Can it scale without sacrificing quality or regulatory integrity?

Building the future with purpose-built AI

Total Expert has always designed technology with financial services in mind, and our approach to utilizing AI is no different. We’re not chasing hype. We’re solving problems.

Our focus on AI isn’t simply building standalone features—it’s about embedded, intelligent, and deeply integrated AI solutions. It’s helping lenders scale smarter, engage more meaningfully, and turn data into action. Our AI Sales Assistant is just the beginning—an example of how purpose-built, AI-enabled solutions can solve real problems and deliver tangible value. We are already testing and exploring other AI-enabled solutions and I could not be more excited about the current and potential value our clients and our market will achieve.

Because when AI works, it’s not just impressive—it’s indispensable.

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