Archive for Lead Generation News

Mortgage Lead Technology

The Lead Planet believes that lenders and brokers can benefit by incorporating the latest technology with their mortgage marketing efforts.  The mortgage lead generation industry saw the latest technology at the LeadsCon conference in Las Vegas.  With the mortgage qualifying efforts more challenging than ever, it is imperative that loan companies learn to buy qualified mortgage leads and then track the communication between the applicant and loan officer to maximize loan origination.

3 Ways to Maximize Internet Mortgage Leads

  • Tips from lead generation experts and how their successful clients are leveraging new technology?
  • Improve lead management with better lead tracking systems integrated with intelligence, and live transfer mortgage leads
  • Increase lead conversion rates for purchase and refinance leads

Watch this free webinar sponsored by Leads360 led by trusted lead technology companies. Now is the time to improve your lead tracking system and take advantage of new break-through technology.   Call the Lead Planet today and find out how integrating a lead management system like leads360 can improve your conversion rates for online mortgage leads.

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Mortgage Lead Buying Secrets

Believe it or not there is an art to buying internet mortgage leads.  Loan companies need to play the lead buying game some skill if they want to maximize their opportunities on the mortgage leads they invested in.  Sure it is important to hire a talented staff of loan officers with a competent sales manager that will make sure the leads get called in a timely manner.  Yes it is a good idea to integrate a lead management system like Leads 360 or Lead Mailbox.  But if you do all of that, are there any guarantees that you will get a good return on the home loan leads you bought with such good intentions.  Sadly no; in today’s mortgage market, loan originators have their hands full finding a borrower who qualifies because the lending guidelines have tightened to the point of being ridiculous. 

A recent Lead Planet survey found that less than 2 out of 10 loan applicants qualified for the home loan in which they applied for online.  A few years ago, a similar survey was taken and found that nearly 7 out of 10 applicants qualified.  Unfortunately the housing sector crashed, so millions of Americans lost their home equity and stated income loans were allowed and even encouraged. 

My advice for lead buyers is to find a lead company that doesn’t sell your leads too many times.  The Lead Planet sells their leads 1-3 times.  You want to find a mortgage lead source that has a contact rate.  With nearly a 90% companywide contact rate, the Lead Planet provides mortgage marketing that loan companies can work with.  Your loan team deserves to speak with loan applicants that eager to get a loan, rather than win a contest that offers them a free ipad.   Buying exclusive mortgage leads is nice, but can you afford not to buy non-exclusive leads that are half the price. 

Last week the Wall street Journal reported that refinance loan applications rose dramatically in April and this week Freddie Mac issued their report that home purchase loan applications had reached a 13-year low. Is this a true indication of the demand for home financing or the reality of the lending guidelines and underwriting for mortgage loans has tightened to the point that most borrowers already know they do not qualify. 

With interest rates at all-time lows and millions of borrowers needing to refinance out of their adjustable rate mortgage, you would think the lead volumes would be sky-rocketing.  The good news for loan companies out there that have not quit and can still afford to keep the lights on, is that the tide will turn.  Private money will come back into the market place and new loan programs will arise that create new opportunities for loan officers to close more loans.  Until then, get some good lending niches, FHA, VA, 203k, etc. Stay lean and mean and it wouldn’t hurt to find a lead company that you can trust. 

Our lead team can help with with lead generation, mortgage marketing and even search engine optimization. Call the Lead Planet at 619-600-5720 for a no cost lead buying consultation.

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Lead Planet Reports Big Jump in Mortgage Refinance Lead Volumes

For most of 2010, thousands of loan officers have been scrounging for hot refinance leads. Amid the mortgage turmoil, many homeowners have been reluctant to re-apply for a refinance loan after being turned down by a bank or lender.  Finally, we got some good news related to the mortgage industry.  After 6 consecutive weeks of declining refinance application volumes, RTT reported a surge in home refinancing activity.  U.S mortgage demand increased again last week, led by a bounce-back in refinance applications and interest rates hitting their lowest levels since mid-March. 

According to Bryan Dornan, the Lead Planet founder, “Mortgage marketing has been difficult in 2010 for loan companies that focus solely on refinancing, because lending guidelines have tightened to a very uncomfortable level.”  Dornan continue, “Stated income loans are gone—- home equity programs have disappeared —–  and subprime loans are on trial waiting for the Obama administration to figure out how best to politicize the mortgage reform.”  Buying qualified mortgage leads can be challenging.  The reality is that not that many borrowers qualify to refinance their home under the tightened guidelines. 

Rumors of private money entering the mortgage market soon would be welcomed and could create additional opportunities for mortgage lenders, brokers and aspiring loan officers.  The Lead Planet reported that refinance lead volumes rose nearly 20% last week and their clients have been reaping the benefits with a flood of new loan submissions.  Purchase lead volumes increased 5.75% even though home buying applications have slowed significantly nationwide. 

The Mortgage Bankers Association reported Wednesday that its refinance index jumped 14.8% from the previous week, hitting its highest level in six weeks. The surge in home refinancing applications, however, was nullified by a decline in the MBA’s home purchase index, which dropped 9.5% on a seasonally adjusted basis. Unadjusted, the index decreased 8.9% from the previous week, and 0.6% from the same week last year.  The decline in home purchase applications was likely due to the expiration of the $8,000 home-buyer tax credit on April 30th.  

For custom mortgage lead generation programs and more information on buying mortgage leads, please call the sales department at the Lead Planet 619-600-5720.

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Lead Planet Offers Mortgage Marketing with Organic SEO and PPC Management Solutions

Can you compete in this mortgage marketing arena or should you outsource the internet marketing to a lead generation expert?  Outsourcing the pay-per-click management makes sense financially for mortgage companies that do not have the ability to bring an expert in-house.  Nationwide Marketing offers pay per click advertising for mortgage lenders, banks and brokers. 

The Lead Planet has over a decade of experience with online mortgage lead generation.  We provide the following mortgage marketing services:

  • PPC Management – We research, create and manage Google Ads to generate mortgage leads cost effectively.
  • Organic Search Engine Marketing –Custom SEO campaigns to increase organic mortgage leads.
  • Local Search Optimization – This unique lead generation campaign is created to capture mortgage leads by region. (ie. “Los Angeles home loans”, “California mortgage lender”)
  • Mortgage Web Development -  Our web-design team will create a website with content, landing pages and online loan application.  Then our SEO team will optimize the site to maximize search engine rankings.

The Lead Planet has been doing mortgage lead generation successfully for over a decade and they have a proven track record generating quality mortgage leads organically.  For a free search engine marketing consultation, Call 888-271-9581 ext- 103

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Mortgage Marketing Tips

Partnering with a direct source for lead generation that can provide you with quality mortgage leads daily is imperative to compete in today’s challenging mortgage industry. As a mortgage lead generation company with headquarters in San Diego, we are in the mortgage marketing trenches of this California housing crisis.  In addition to selling exclusive mortgage leads in all 50 states, the Lead Planet provides custom web-design and SEO marketing services to promote your website online.

California mortgage lenders and brokers have been on the up and up over the last year as down-sizing and streamlining have been a few keys to mortgage companies staying in business.  Record low California mortgage rates have helped revive the mortgage industry a bit, but mortgage guidelines have tightened to a point of pain.

A recent mortgage marketing study indicated that less than 2 out of 10 loan applicants is getting approved for a home mortgage today.  Subprime and stated income loan programs have vanished.   That means that good credit borrowers who have a mortgage that is greater than their home value will likely have no refinance options. Borrowers who have late payments and bad credit scores should focus on a loan modification, because refinancing is out of the question.  It also means that 90% of self-employed borrowers are scrambling to qualify to meet today’s underwriting requirements.

The Lead Planet understands the challenges of mortgage marketing and we know it is difficult to get good mortgage leads from borrowers who are not only interested but who also have the qualifications to get approved with the current lending standards.  The Lead Planet recommends the following initiatives to maximize mortgage marketing strategies in today’s economic climate.

  1. Partner with a mortgage lead company that generates their own leads.  Avoid buying leads from a lead broker, because you will never know how many times they have been sold and when you actually get an applicant on the phone they will likely been angry because they have bombarded by a 20 mortgage brokers hounding them for their loan business
  2. Try and extend your licensing to multiple states.  Being licensed only in your home state will limit your ability to buy a quantity of good leads.  Mortgage companies that are licensed in 10 or more states have a much greater chance of succeeding because they have a bigger pool of leads to call on.
  3. Expand your loan origination niches.  Even though you love refinances, you need to start selling purchase loans now too because we are in a purchase market.  Refinancing has tight guidelines and 40% of the country has their mortgage underwater.
  4. Add government mortgages to your bag of tricks.  FHA and VA loan programs will provide your loan team more opportunities to fund more loans.

To get a free mortgage marketing consultation, call 888-271-9581.

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Qualifying Mortgage Leads

Mortgage lead generation is a challenging trade because so many interested prospects don’t qualify for home financing.  The recent credit crunch and subprime mortgage meltdown devastated the mortgage industry.  Thousands of lenders, banks and brokers went out of business.  The few lending companies left tightened their guidelines so significantly that caused very few applicants to qualify for mortgage financing.  This lending shift created many obstacles for mortgage lead generation because so many people online were unable to get approved for refinancing or home buying.  Internet mortgage lead quality will vary significantly between lead companies.

When buying mortgage leads, there are a few important things to consider.  First, you need to know how many other people are calling your prospect.  Even if you are buying exclusive mortgage leads, there is a good chance that your lead may be shopping around online with other mortgage companies.  We recommend asking the prospect about the other offers they are receiving from other lenders.  Is your competition sending the prospect disclosures or are they just quoting them mortgage rates arbitrarily without even considering their credit scores or calculating their debt to income ratio.  Anyone can quote low rates, so it is important to make sure that your prospect is comparing apples to apples.  After you run the borrower’s credit, check the inquiry section of the credit report and you will see who else has run their credit recently.

Lead Planet has an experienced staff that can help you launch a successful mortgage lead campaign.  Call 619-600-5720 for a Free Mortgage Lead Analysis.

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Free Sales Training for Internet Mortgage Lead Management

By · January 7, 2010 · Filed in Lead Generation News, Lead Management, Lead Planet Incentives, Sales Training · Comments Off

The Lead Planet Company announced a new value added service with their mortgage lead generation. In addition to their free lead promotions, the Lead Planet will be offering free sales training to brokers, loan officers and lenders when they purchase 100 or more loan modification, debt settlement or mortgage lead packages. The Deal Maker will train up to 20 loan officers on effective methods for managing internet mortgage leads.  Take advantage of the proven strategies and tips for originating loans from internet leads

Our lead generation company offers both non-exclusive and exclusive mortgage lead programs.  Loan professionals are able to target borrowers that best fit their lending niches. When you open a Lead Planet account, you can set your lead filters by state, loan type, loan amount, LTV and more. 

Call 619-600-5720 to get started.

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Christmas Mortgage Lead Special

By · December 21, 2009 · Filed in Lead Generation News, Lead Generation Technology, Lead Planet Incentives · Comments Off

Lead Planet is pleased to announce a new Holiday special for mortgage leads.  your best mortgage marketing source providing quality mortgage leads, loan modification leads and debt leads for broker, lenders and mortgage bankers.  We specialize in the home financing industry for the past 12 years and have become the leader mortgage marketing online in the United States. 

Take advantage of our Christmas lead specials that include 10 free leads with every order of 50 or more internet mortgage leads. Call 619-600-5720 to get started with quality mortgage leads that convert.

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Live Transfer Mortgage Leads Convert Better

Good mortgage leads are more of a commodity than ever.  The mortgage lending guidelines have tightened significantly and property values have diminished, so qualifying leads is more challenging than ever.  Stated income loans and bad credit mortgages have become a thing of the past.  Live transfer mortgage leads which are also referred to as, hot transfer leads occur when a lead generation firm transfers a phone call with a potential borrower to a mortgage professional. In most cases, loan officers spend too much of their time dialing out on unqualified mortgage leads, or calls that result in messages on answering machines. 

Since live prospects are qualified by the lead generation company, conversion rates are higher. The cost for live transfer leads vary by state and vary by how the live mortgage lead was generated.  For example a live transfer that came from a telemarketing lead will cost significantly less than a live transfer from a radio or television advertisement.  Call 619-600-5720 to learn more how the Lead Planet can make your phone ring.

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Comparing Non-Exclusive and Exclusive Mortgage Leads

By · November 16, 2009 · Filed in Lead Generation News, Lead Generation Technology, Mortgage Lead Buying Tips · Comments Off

Be prepared to pay more for exclusive mortgage leads, but verify with your account manager that you are getting an exclusive lead that their company actually generated the lead. (rather than buying a brokered lead that could have been sold ten times.)  In some cases non-exclusive mortgage leads can be cost effective as well as long as the lead is not sold more than four times.

Consider the cost per funding rather than the cost per lead. Companies offering cheap leads but have a high cost to funding ratio will not help you as much as the company that charges more up front per lead, but offers a lower cost to funding ratio.  Lead Planet President, Bryan Dornan continues to recommend having multiple marketing sources and visiting the Lead Planet for exclusive and non-exclusive mortgage leads.

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