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June 20, 2010

Thrifty Tips for Buying Internet Mortgage Leads

Today, most mortgage brokers that have less to spend so it is imperative that they buy leads cautiously.  Internet mortgage leads can be a very cost effective form of marketing if you know how to purchase leads from lead generation companies.  Be careful of how and where you purchase leads. Ask the account executive at the lead company what their minimums are and be cautious when buying leads in bulk.  If a lead company is generating 50 leads a day and 15 leads a day that meet your filters, you have to wonder how a lead company could send you 250 leads in a 3-day span.  Clearly these are either old or brokered leads. In a recent article, Bryan Dornan the founder of mortgage lead generation company, the Lead Planet reminded mortgage companies to “Consider more than just the cost per lead.”  Dornan suggests that “the cost per funding is the bottom line.”  See the original mortgage lead buying post at the Mortgage Lead Vault > Cost to Funding Ratio Matters with Mortgage Leads

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May 21, 2010

The Lead Planet Talks Mortgage Lead Buying Strategies

The Lead Planet published a press release Friday discussing the state of the mortgage lead market.  The mortgage lead generation company, released their 2 cents on buying leads and partnering with the right lead company.  They recommend that lead buyers focus on building a relationship with a lead company that doesn’t sell their leads too many times.  The Lead Planet also stresses the importance of purchasing leads from a direct lead source. (a company that generates their own online mortgage leads, rather than buying leads sold to them from a lead broker)

Just a few days ago Freddie Mac published a report indicating that home 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?

The Lead Planet reminds us that there are enough challenges in this mortgage market just finding loan applicants who even qualify.  Conventional, VA and FHA mortgage lending guidelines have all implemented stiffer requirements for home buying and mortgage refinancing.  Read the original article at the Lead Planet Blog > Mortgage Lead Buying Secrets or call the lead support team at 619-600-5720.

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