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Mortgage Leads that Convert

Mortgage Lead Vault has numerous mortgage loan portals that receive high traffic and a significant amount of quality mortgage leads from consumers that want to refinance, purchase or request a loan modification from a lending professional.
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The Lead Planet publishes another article worth reading if you care about maximizing your mortgage marketing dollars.  The mortgage lead company discussed the importance of working purchase and refinance leads in today’s mortgage industry climate.  Lead Planet founder, Bryan Dornan said, “Rates may be at record lows but guidelines are the tightest they have been in at least 15 years.”  Dornan continued, “Loan officers need to multi task more and build some relationships that start with purchase leads.”  It’s a purchase market that is flourishing right now.  Home purchase loans have a priority with loans in process for the major banks like BofA, Chase and Wells Fargo. 

The Lead Planet points out that direct mail marketing costs have risen and the return rates have been lower because of the saturation. Most mortgage shops “are surviving with internet mortgage leads, but the companies that seem to be funding the most loans every month are the shops that are buying both purchase and refinance leads.”  The Lead Planet recommends buying blended mix of both purchase and refinance leads.  Take a minute and call the Lead Planet at 619-600-5720 and get a complimentary mortgage lead evaluation.  Read the original article online at > Originate More Loans Buying Purchase and Refinance Leads.

 

Mortgage lead sales continue to rise as many loan companies are looking to expand their market-share while interest rates are at record lows.  According to Lead Planet founder, Bryan Dornan, “Consider the cost per funding rather than the cost per lead.  Many lead brokers sell cheap mortgage leads but at when you evaluate the results, that company ends up having a higher cost to funding ratio. So why focus on buying leads solely because they are cheap?  Buying cheap leads from brokers will end up driving your loan officers’ nuts and drives up your credit report bills.  It is clearly more cost-effective to get better mortgage marketing and buy mortgage leads that cost a little more up front, but actually offer a reduced cost to funding ratio.

Some other tips for purchasing home loan leads that Dornan recommends are predicated on developing a good relationship with the lead generation company that provides stellar customer service.  Call 888-271-9581 to get a free evaluation on mortgage lead buying.  Our account managers will assess you needs, niches and then make a recommendation for buying mortgage leads.  There is no cost or obligation for the lead generation consultation so you have nothing to lose.

 

In Los Angeles, California, Kelly Media Group, introduced a mortgage lead special in which the mortgage marketing agency is matching direct mail marketing campaigns with voice broadcasting.  The minimum direct mailing is 20,000 mail pieces that do not have to be mailed all at once.  The new KMG lead generation offer is available for loan modification, debt relief and mortgage lead campaigns.

In Aliso Viejo, Calif., the Citywide Mortgage Corporation, which previously brokered Alt-A and subprime mortgages, last year became a loan modification company, USMAC. The loss mitigation company has not received a cease and desist order, but complaints on numerous consumer Web sites assert that it fails to deliver.  “I’m saving homes,” said the company’s president, Scott Gimbel, who claimed a success rate above 70%.

Chris Mozilo, nephew of Angelo R. Mozilo, the former chief executive of Countrywide Financial a name synonymous with the subprime disaster — recently started a new business, eModifyMyLoan. The loan modification software company enables homeowners to apply for a loan modification online.  Chris Mozilo worked at Countrywide for 16 years. “I’m very proud of my career in mortgage lending,” he said. “We helped millions of people achieve the goal of homeownership.”