Archive for Lead Generation News

Maximizing Mortgage Marketing in the New Year

There may be some hints that the mortgage industry is turning the corner as mortgage marketing companies reported an increase in advertising for loan companies in the fourth quarter of 2011. In addition, several MBA surveys pointed to more good news as loan professionals confirmed their belief that outlook for home financing is improving. Sure lending guidelines are still tight and the housing market continues to struggle with foreclosures and significantly deflated home values, but maybe we are at the low point for this crisis and thing actually will get better. Sure property values on the East and West coasts are still in the tank, but eventually people will start buying homes again and home loan guidelines will loosen. Loan companies that are serious about increasing conversions and originations are more committed to mortgage marketing than ever before.

Reduced Expenses as the Cost Per Lead is Lower

According to Lead Planet founder, Bryan Dornan, “If positive thinking can play a role in the recovery than 2012 and 2013 will be great years for loan origination nationally.” Dornan believes that so there has been such a significant correction in the mortgage industry that is will be easier for the lenders who are left to succeed. Although, Dornan cautioned that tighter guidelines have hindered reducing the mortgage marketing costs, because not as many loan applicants will qualify. The bottom line is that is takes more internet mortgage leads to qualify a borrower. Fortunately for loan companies the costs of mortgage leads has dipped slightly over the last few years.

Targeting Refinance Niches Will Be Critical for 2012

Don’t forget the Obama administration announced a revived HARP refinance program that actually lifts loan to value requirements for struggling borrowers looking to refinance their underwater liens. Of course you must have a mortgage owned by Fannie or Freddie and you must meet the credit requirements but no loan to value limitations could be a genuine opportunity for homeowners to lower their monthly payments from home refinancing. The question is though — how many of these upside-down borrowers already have a low interest rate? Since we have had home loan rates below 5% for almost 3 years, many of these “struggling homeowners’ already have a home loan with very good interest rates. Nonetheless, the new HARP mortgage will enhance loan origination in 2012 just how much remains to be seen. We have seen a significant spike in interest for HARP leads in the fourth quarter. We have seen a dramatic rise for internet mortgage leads that stemmed from homeowners seeking help from a HARP lender.

Mortgage Marketing Areas of Opportunity

Since we have been blessed with record breaking mortgage rates the last few years, most loan officers have continued to succeed with refinance leads.  That will continue if fixed 30-year mortgage rates remain in the 4% range and banks actually ease refinance requirements. The pool of qualified borrowers seemed to be shrinking last year, because so many homeowners had refinanced in the last few years. However, the mortgage refinancing mania will eventually lose its luster if there aren’t enough new home buyers getting loans. With that in mind, we strongly recommend buying purchase leads in 2012 because bargain home buying and low rates are the perfect cock-tail for successful new home loan origination. For smaller shops, we suggest assigning a few loan officers to develop your purchase business this year. Yes the loan origination takes more time, but the mortgage marketing costs are less than refinance leads and the referral rate is phenomenal when closing home purchase loans.

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Mortgage Leads and Loan Originators Keys to Success

By · December 12, 2011 · Filed in Lead Generation News · No Comments »

In most cases the two most driving factors in loan companies succeeding in today’s market are mortgage leads and loan origination. You need good leads and solid loan originators to succeed. In the past lenders needed niches to succeed but in todays market there are very few options. Most lenders and brokers are selling conventional and FHA home loans. Since everyone is selling basically the same loan product it is more important than ever to buy quality mortgage leads.

The Lead Planet has been helping loan shops with mortgage marketing since 1999. We generate fresh internet mortgage leads for all types’ finance companies.

  • FHA Leads
  • VA Leads
  • Conventional Leads
  • Jumbo Leads
  • Home Equity Leads
  • HARP Leads
  • Refinance Leads
  • Purchase Leads

Call 619-600-5720 to get a free marketing consultation.

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HARP Leads in High Demand

Our phone has been ringing off the hook with marketing managers looking for HARP leads as the US Government approved the Home Affordable Refinance 2.0. More and more loan companies have been requesting high loan to value refinance leads. In the last few years, lenders, brokers and loan officers have stayed away from no equity mortgage leads. It’s no secret that FHA leads have been in high demand and loan companies have been seeking loan to value filters at 96.5% on purchase and rate and refinance and 85% on cash out refinancing. However many lenders have been reported the problem of plummeting property values.

Find Out How HARP Leads Can Enhnace Your Loan Origination in 2012

In 2009 a program called the Home Affordable Refinance was rolled out to borrowers that had underwater mortgages owned by Fannie Mae or Freddie Mac.  These were considered 125% loans because they enabled this pool of borrowers to refinance up to twenty-five percent greater than their home’s appraised value. You would think the original HARP mortgage program would have been a huge success, but because of limited insurance available, most lenders passed on the program. Believe it or not the other problem was that 125% was not enough as millions of Americans were sinking in underwater homes.

The Home Affordable Refinance Program 2.0 has no loan to value restrictions so underwater homeowners who have been longing to refinance now have a new opportunity. The Lead Planet is one of the marketing leaders for HARP leads. We have been generating a high volume of home affordable refinance leads that can help jump-start your origination in 2012.

Call 888-271-9581 to learn more about HARP leads or to get started buying refinance leads

 

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Why Mortgage Leads in Less Popular States Have a Better Conversion Rate

Real estate prices in California and New York average the highest in the United States.  Mortgage lead buyers should realize that mortgage companies around the country are buying leads in popular states like California and New York.  These lead markets are very packed, so competition is high.  Buying leads in less popular states like Texas, Georgia, Ohio and Pennsylvania usually have a higher conversion rate than in the popular states because competition is less, and therefore reselling of the leads happens less often.  California mortgage leads can be picked over and resold many times.  There are still many lucrative Texas mortgage leads, but they are less popular and therefore offer a higher conversion rate.  Georgia mortgage leads are a bargain because there are many draws for people to move to the state but the leads have not become popular yet.

California mortgage leads versus Texas mortgage leads and Georgia mortgage leads can still bring great profits, but mortgage lead buyers should realize that mortgage companies around the country are buying leads in popular states like California and New York far more often. So, buying leads in less popular states like Texas, Georgia, Ohio and Pennsylvania usually have a higher conversion rate than in the popular states.  Nationwide mortgage companies can increase number of sales by targeting less popular states in their lead buying.

Because buying leads in less popular states like Texas, Georgia, Ohio and Pennsylvania usually have a higher conversion rate than in the popular states, you can save money because a higher percentage of purchased leads are making you money.  Mortgage lead buyers should realize that mortgage companies around the country are buying leads in popular states like California and New York, so New York and California mortgage leads will more often fail when compared to Texas mortgage leads and Georgia mortgage leads.

Mortgage lead buyers should realize that mortgage companies around the country are buying leads in popular states like California and New York from lead generation companies and lead brokers on the internet and who get leads through direct mail, TV, and radio.  Buying leads in less popular states like Texas, Georgia, Ohio and Pennsylvania usually have a higher conversion rate than in the popular states is improved even more by purchasing only from mortgage lead companies who generate their own leads and send them to you in real time.  California mortgage leads, Texas mortgage leads, and Pennsylvania mortgage leads are all easier to convert the quicker you get them.

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5 Ways to Compare Mortgage Lead Generation Companies

With profits margins shrinking for loan origination, it is imperative to buy internet mortgage leads with authority from trusted mortgage lead generation companies that have a proven track record. You need to connect with a mortgage lead company that understands your niches in addition to having the ability to supply you with the volumes and loan types you need. If you specialize in home loans for first-time home buyers, then make sure the companies you are considering provide purchase money leads. Find out who has the best reputation for quality leads?  Compare lead companies for internet mortgage leads and usually it’s optimal to work with several good companies like the Lead Planet, Lending Tree, etc. Try and avoid spending your entire marketing budget with one company.

1. Ask your colleagues and mortgage professionals that you respect to uncover potential lead sources with verified reputations.  Sometimes you may find out who has the best reputation for quality leads through online reviews of internet mortgage leads, but consider the reviews with a grain of salt.  When you ask around, inquire about price (compare exclusive and non-exclusive prices), customer service, lead quality, and return policy.  Find out who has the best reputation for quality leads through experiences.

2.  Investigate mortgage marketing opportunities and shop lead companies.  Go to the website and ask about their lead generation process, the return policy, prices, and services.  As you shop lead companies, keep track of each one’s answers.

3.  One of the most important factors when you shop lead companies is to make sure you are working with a direct lead generator.  Avoid lead brokers who resell purchased leads.   A major factor in lead quality is the speed with which you follow up on the lead.  When you make sure you are working with a direct lead generator and avoid lead brokers, you are working right with the source of the leads.  See how fast they get the leads to you after you make sure you are working with a direct lead generator.  If you can follow a lead right away, you have less competition and are more likely to avert the potential clients from changing their minds.  Ask specific questions about lead generation to avoid lead brokers.  Make sure you are working with a direct lead generator, where leads are acquired through the internet, direct mail, TV, or radio.

4.  Verify how many time leads are sold and compare exclusive and non-exclusive prices.

Now that you know to avoid lead brokers, verify how many time leads are sold and compare exclusive and non-exclusive prices of the companies that are left on your list.  Leads can be exclusive, or sold only once.  When you verify how many time leads are sold, you can decide whether you want to pay for non-exclusive or exclusive-mortgage leads.  The cost of non-exclusive leads can vary quite a bit, so it pays to verify how many time leads are sold that are labeled non-exclusive.  If a lead is generated online with integrity and sold 2 or 3 times then the chances are good for you to get a solid return on investment.  If the mortgage lead is sold four times or more, then you will likely have a lower application to funding ratio.

5.  Internet mortgage leads are often the most cost-effective and plentiful.  By choosing to work with good companies like the Lead Planet, Lending Tree, etc, you help ensure that you avoid fraudulent websites.  Work with good companies like the Lead Planet, Lending Tree, etc to get internet mortgage leads for a large market.  Choosing to work with experienced lead generation companies like the Lead Planet will enhance your marketing results because you will close more refinance and purchase loans cost-effectively. Scott Deal, the National Sales Mgr. at the Lead Planet said, “Buying quality leads with the right approach is critical for achieving results.” Deal recommends taking advantage of your account manager’s knowledge because you might get some fresh perspectives that increase loan sales without breaking the bank.

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Best Mortgage Lead Generator

One of the goals of most brokers and lenders is to allign themselves with the best mortgage lead generator on the internet.  Loan professionals like internet mortgage leads because the conversion rates are pretty good and mortgage executives like them because they are cost-effective and easy to access.  Direct mail and TV campaigns take weeks or months to generate leads and there is no room for error, because TV and mail are expensive types of mortgage marketing.

The Lead Planet has been generating mortgage leads online since 1999. 

According to Lead Planet founder, Bryan Dornan, “We have become one of the best mortgage lead generators because we understand the needs and niches of lenders and we operate several hundred mortgage websites that rank high on the search engines.”  Our most popular mortgage lead generation programs are the exclusive mortgage lead packages in which loan companies purchase a block of leads in advance that meet their filters.  As the leads come in the company receives fresh live transfers or online mortgage leads.  We also offer mortgage SEO solutions for companies that need help getting their websites ranked higher.   The Lead Planet is the best way to invest in internet mortgage marketing, so call 619-600-5780 for a free consultation.

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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

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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    Mortgage Loan Lead Volumes Jump

    For the third consecutive week, mortgage lead volumes rose.  According to the Lead Planet weekly survey, online mortgage leads increased over 18%.  Refinance leads jumped nearly 20% last week and purchase leads inched up almost 2%.  

    According to a Lead Planet spokesman, “As mortgage rates break records, lead volumes rise, because consumers want to save money with a lower interest rate.”  We continue to see significant interest in government home mortgages again this week as FHA leads rose nearly 11% and VA leads increased almost 7%.  Debt and loan modification lead volumes fell nearly 2% from the previous week.  The Federal Reserve announced compensation restrictions for mortgage brokers last week, but as expected the news had little effect on the mortgage lead activity. 

    Mortgage Lead Activity Spikes as Interest Rates Drop

    The Lead Planet is a direct mortgage lead company that publishes a monthly report measuring lead volumes for home finance, debt and real estate industries.  The internet mortgage marketing company is best known for generating live and leads from their premiere finance websites.  They also posts a weekly mortgage lead report that is derived from the survey of over 1,000 mortgage companies nationwide.

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