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Mortgage Lead Podcast

By · January 20, 2011 · Filed in Mortgage Lead News, Mortgage Lead Podcast · Comments Off

Mortgage lead activity continues to increase, as compared to the previous month.  Interest rates are higher, but loan applicants are back online seeking home loans.  Refinance leads are up nearly 2% and purchase lead volumes are up 9.6% from December.  FHA leads continue to be the most requested lead type.

Listen to the Lead Planet Mortgage Lead Podcast below:

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Home Loan Leads Activity Up

By · November 26, 2010 · Filed in Lead Planet News, Mortgage Lead News, Purchase Leads, Refinance Leads · Comments Off

Home loan leads rose significantly last week, increasing 14.4% to hit their highest level since May of this year.  According to the Lead Planet weekly lead report, purchase leads have now risen for four of the past five weeks.  Over the past four weeks, the MBA’s Purchase Index has raised an average of 4.0% a week. According to Michael Fratantoni, MBA vice president of Research and Economics, “The increase in home loan leads last week aligns with other incoming data suggesting that consumers are feeling somewhat more confident with their financial situation.”

The activity of refinance leads fell 1.0% for the and are currently at their lowest level since June, despite interest rates that remained relatively stable after a sharp jump the previous week following the Federal Reserve’s announcement that it would purchase $600 billion in Treasury securities to boost the economy.  Refinance leads have been falling over the past month even as home purchase applications rose. Refinance leads are down an average of 4.8% over the past four weeks, despite expectations by many analysts that the recent rise in home loan rates would motivate fence-sitting homeowners to act before rates go any higher.

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Free Internet Mortgage Leads for New Accounts

Today, the Lead Planet announced that the direct lead company is rolling out a free mortgage lead promotion for new accounts on Monday, October 25th.  The mortgage marketing company said the initiative is designed to help lending companies fund more loans in slow months like November and December. As the government continues to bail out the banks, the Lead Planet believes that small lenders and mom and pop brokers deserve some assistance as well so we are offering 50 free purchase leads with all 100 lead orders from new accounts. 

With the 100 lead program, new accounts can choose from the following types of internet mortgage leads:

The Lead Planet is excited to partner with lending companies looking for cost-effective internet mortgage leads that convert well.  The Lead Planet Company said that the “50 free lead program” is for a limited time and will be honored until November 15th, 2010.  A company spokesman believes that investing in 100 self-generated leads online is a great way to jump-start a loan company in a struggling economy and housing crisis.

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Tips for Buying Internet Mortgage Leads

By · October 6, 2010 · Filed in Lead Generation News, Marketing Tips for Mortgage Companies · Comments Off

It is no secret that the mortgage industry has been battered in recent years, so buying mortgage leads has become more important than ever for loan companies across the nation. Banks and lenders have tightened their loan guidelines significantly recently, so you need to consider that choosing your filters for internet mortgage leads

Great Tips for Online Mortgage Leads

1.  Make sure that your LTV filters are in line with the loan programs you offer

2.  Consider buying “Fair credit” leads if they are discounted. (Credit is subjective and some fair credit leads will turn out to be good credit)

3.  Buy mortgage leads in as many states as you are licensed in

4.  Negotiate a Volume Discount

5.  Manage the leads you distribute to your team and hold each person accountable

  The Lead Planet offers a variety of online mortgage leads. Choose from the following:

  • FHA Leads
  • Refinance Leads
  • Home Loan Leads
  • Streamline Leads
  • Loan Modification Leads
  • VA Leads
  • Home Equity Leads
  • Debt Leads
  • Live Transfer Leads
  •  

    Savvy loan shops like online mortgage leads because they are cost-effective and perform well when buying leads from a direct lead provider, like the Lead Planet.   Companies get in trouble when they start dabbling in buying cheap mortgage leads from brokers who resell old leads.  In some cases, lead brokers have sold each mortgage lead 15 times.  You can imagine how irrated these consumers would be getting calls from 15 loan officers.  Needless to say, buying mortgage marketing from company that generates their own leads is worth the investment.

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    Social Media Marketing for Mortgage Companies

    Good mortgage companies are always looking for new weapons to add to their mortgage marketing arsenals.  Social media marketing has increased in popularity amongst mortgage lenders and brokers.  If done properly it can help them generate local mortgage leads and referrals.  Social media marketing is also a great way to maximize online reputation management.  The buzz for social media marketing has been increasing over the past few years. Unfortunately, most lenders, brokers and loan officers have been slow to get up to speed with online marketing.  Brand awareness is essential in today’s competitive mortgage market, so take advantage of the marketing tools that Twitter, Facebook and YouTube provide.

    Maximize Your Image Online with Social Media Marketing

    • Twitter – great social media site for posting articles and news.  (Think new hires, new loan programs etc.)
    • Facebook – very popular social marketing site that can help with reputation management and mortgage lead generation
    • Stumble Upon – This social bookmarking website is a great way to promote your articles and webpages within the blogging community

    As an added value service, the Lead Planet offers online marketing services like social media marketing for mortgage companies.  Our internet marketing team offers mortgage SEO, custom websites and social media marketing to help bolster the image and reputation of your mortgage company image online.  Our clients enjoy improved visibility online and many report generating solid mortgage leads from Facebook on a regular basis.

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    Fed Bans Lenders from Paying Yield Spread Premium to Brokers

    The Federal Reserve announced several new rules like banning YSP loan commissions in an effort to minimize abusive mortgage lending practices.  The Fed actually said that mortgage lenders paying yield spread premium, also known as YSP led to the collapse of our housing sector.   The truth is that the Fed has had knowledge of broker paid commissions since it began well over a decade ago.  To say that the brokers charging higher rates on artificially reduced Fed rates caused the housing crisis is absurd.

    Will Banning Mortgage Rebates Help the Mortgage Industry?

    These new home lending regulations are part of the new financial reform legislation mandated by Congress.  The new rules apply to mortgage loan originators, brokers and loan companies, including banks and mortgage firms employing them. Under the new regulations loan originators may no longer be paid a increased commissions for suggesting one home  loan over another.

    How will the YSP Ban Affect Your Business?

    This is a devasting blow to loan companies that seek talented loan professionals.  As most of you know, loan officers were paid higher fees for charging a higher interest rate on mortgage to consumers over the last few years.  The fed is blaming the foreclosure crisis on mortgage brokers. 

     

    Will this be the end of No Cost Mortgages? The rule change is intended to prevent loan originators from receiving higher compensation at the cost of damaging consumers.  Mortgage lenders can still continue to receive fees that are based on a percentage of the loan amount, however, which is common in the mortgage business.  Many loan originators have been sharing their yield spread premium commissions with their borrowers in an effort to reduce or even eliminate closing costs.  Where do you think no cost mortgage loans originated from?

    Loan originators will also be prohibited from receiving compensation from both the consumer and another party such as a bank or mortgage company. Consumers were typically not informed that loan originators and brokers often received payments for their work from both parties. The new rule seeks to protect consumers who agree to pay the loan agents through a higher interest rate or through fees such as points charged up front on a mortgage are not paying more as a result.

    The Fed said they are also instituting a rule prohibiting loan originators from directing a consumer to accept a home mortgage that is not in the consumer’s best interest in order to increase the loan agents’ compensation. The rule preserves consumer choice by ensuring that consumers can select from other home loan options, including loans with the lowest mortgage rate and the least amount of closing costs rather than loans that pay the originator higher fees.  The new YSP rules are set to go into affect April 1, 2011.

    Does the Fed Have the Governing Authority to Ban YSP in all 50 States?

    The Lead Planet believes that in a free market society in the US that charging a premium for your services is a great American virtue.  Better disclosures would have been a better solution rather than banning sales commissions to loan officers.  For now, we are reporting that once again our government has taken measures to strip some of our liberties. I don’t believe we have heard the end of this issue.

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    Internet Mortgage Lead Generation Campaign Improves with SEO

    In the monthly mortgage lead generation report, the Lead Planet announced a significant improvement in lead quality from the previous month.  Internet mortgage leads converted over 17% better in June than in May!  Our mortgage clients reported better credit quality and higher conversions on both purchase and refinance leads! A spokesman for Lead Planet said, “As an internet mortgage marketing company we utilized our own search engine marketing strategies to focus on keywords that drove traffic to loan applicants with better credit scores.” 

    Our mortgage SEO solutions continue to help our clients in multiple ways because we are able to target specific niches through precise internet mortgage lead generation campaigns.  Whether it’s VA, FHA, conforming or jumbo, the Lead Planet has the ability to significantly increase search engine ranking for most mortgage websites that display original content.

    Call 619-600-5720 to get more information on mortgage lead generation, search engine optimization and custom websites that rank high and perform well on Google, Yahoo and Bing.

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    Whisperings of Mortgage Professionals – Mortgage Lead News

    Home mortgage rates dropped to record lows last week, but many mortgage brokers and lenders were not cheering. With banks offering more affordable home loan rates than ever before, you would think the professionals selling interest rates and finance opportunities would be more excited. First of all mortgage rates have been ridiculously low for several years. Second, the mortgage guidelines have tightened to the point that not that many loan applicants qualify. Mortgage leads have increased slightly over the last few weeks, but most applicants simply do not qualify.

    The new finance reform bill comes down hard on loan professionals for misconduct and fraud. Sure some of the requirements for mortgage lending need to change, but fairness seems to be disappearing from the reform bill. Privately many mortgage brokers are concerned that our government is trying to cap their income. Most of us believe that in America, the land and the free that you should not have your government limiting your income. According to BofA mortgage executive, Jeff Moran, “There seems to be two sets of rules —-One for the conventional mortgages and another set of rules for the government backed home loans.” Moran continued, “With our economy and housing sector in such a fragil state, it is imperative that we make industry changes that protect consumers yet do not hinder genuine home financing opportunities that will help people in our economy get back on their feet.

    Is it fair that the government that was involved in pushing risky loans to unqualified borrowers should be dictating how much money we should make? The competitive nature of the mortgage business has been the driving force for new lending products and finance opportunities that have helped this great country expand. The notion that our government is implementing restrictions on our industry yet the government mortgage products are exempt from disciplinary repercussions is maddening.

    What can you do? Be vocal and get involved with groups like the Mortgage Bankers Association and local groups like California Association of Mortgage Brokers. There are local mortgage associations in every state, so get involved. Partner with mortgage marketing companies like the Lead Planet who will support you with industry news and internet mortgage leads that will help increase your cash flow. Call 619-600-5720 to get more information on new mortgage lending opportunities and online mortgage lead promotions.

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    Online Mortgage Lead Committment

    The importance of buying quality mortgage leads that convert cannot be understated.  The days of throwing money at any lead broker online and succeeding are gone.  In fact if you do waste your mortgage marketing dollars like that you will not be in business for long.  If you are a loan officer or mortgage broker there is no getting around that these are tough times for the mortgage industry.  The reality is that the home loan products available carry much tighter guidelines than we have seen in the last twenty years. That means if you are serious about being competitive, you need to buy mortgage leads from a lead generation company that can perform day in and day out.

    Shopping online for the best mortgage lender to meet your borrower’s needs is indeed a challenge and that is why the Lead Planet has partnered with experienced mortgage companies that know how to close loans in this market.  If you have purchased 1000′s of leads two in ten will likely convert.  One in twenty is pretty standard these days with most lead companies. The Lead Planet has made a commitment to helping loan companies get better conversion ratios from their online mortgage leads. 

    Mortgage lead buying is all about commitment and buying large quantities to get a return.  Buying 100 quality mortgage refinance leads could cost $2,500.00 (100 x 25.00 per lead). If you only get applications on 20% of the leads and close half of those loan prospects you are getting a worthy return on your investment. The key is to set your monthly budget for two to three months at a time. Stick to it and buy all the loan leads you can afford if you have a talented staff and lenders that are ready to fund your loan submissions. One of the most common mistakes companies do is to not buy enough leads or stop the online mortgage lead campaign too quickly.  We are proud of the fact that our clients tell us that our live transfer leads convert better than their other lead companies.

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    Lead Planet Announces New Free Mortgage Lead Campaign

    The Lead Planet Company announced yesterday a new promotion offering free mortgage leads to loan companies looking to buy quality internet leads.  Find out why loan companies continue to come back to the Lead Planet year after year for internet mortgage leads. We are one of the most respected and experienced mortgage marketing companies online that offers real-time mortgage leads, live transfer leads, loan modification leads and debt leads for broker, lenders and mortgage bankers.  For the last decade, we have specialized in internet marketing for the mortgage and finance related industry. 

    Take advantage of our summer lead promotion that includes 10 free mortgage leads with every order of 50 or more online mortgage leads. (The promo also includes loan mod and debt settlement leads)   

    Jump-start your pipeline with quality loan leads generated exclusively by Lead Planet websites. Call 619-600-5720 or fill out the short form to the right of this article and you will get a free mortgage marketing consultation with no obligation.

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