How do we generate our Mortgage leads?

We utilize a variety of online marketing sources and campaigns that include banner advertising, consumer newsletters, relationship marketing, direct marketing, contextual marketing, and direct mail campaigns to our consumer website www.equotegrabber.com. All internet Mortgage lead campaigns are 100% compliant with all state and federal laws, including the CAN-SPAM act of 2003 and the “real time” mortgage leads we sell fall within the safe harbor provisions of the FTC's National Do Not Call registry.

We provide Mortgage leads in the following states:

Alabama, Alaska, Arizona Mortgage Leads, Arkansas, California Mortgage Leads, Colorado, Connecticut, Delaware, District of Columbia, Florida Mortgage Leads, Georgia, Hawaii, Idaho, Illinois Mortgage Leads, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey Mortgage Leads, New York Mortgage Leads, North Carolina, North Dakota, Ohio Mortgage Leads, Oklahoma, Oregon, Pennsylvania Mortgage Leads, Rhode Island, South Carolina, South Dakota, Tennessee, Texas Mortgage Leads, Utah, Vermont, Virginia, Washington Mortgage Leads, West Virginia, Wisconsin, Wyoming

Be successful with our Mortgage leads:

Working any type of mortgage lead is very competitive and most consumers do not understand many of the nuances associated with mortgage loans. To ensure your success working our mortgage leads, it is important that you not only use multiple means to communicate with the mortgage consumer like email and telephone, but also consider sending direct mail to them as well. Work these Mortgage leads for weeks, not days to maximize your contact rate as many Loan Officers give up after just a few days and your persistence will pay dividends. Be sure your value proposition is unique and sets you apart from the other lenders that are calling. After all, you have to earn this customer's business and you need to sell yourself and the benefits of using your company rather than just selling rate. They are also buying into YOU, not just the mortgage loan!

The 100 Mortgage Lead Waterfall: What can you expect?

Your goal when purchasing every 100 mortgage leads is to interact with those “targeted” customers who are most likely to transact with you. Although you want to continually follow up with every mortgage lead you purchase, your priority on a daily basis is to put another loan in the pipeline. As such, you want to focus your efforts on those mortgage leads that are most likely to provide you an immediate return.

Out of our 100 mortgage leads you should expect:
50%-60% to result in a personal contact by you. (50% contact rate) This ratio can be increased if you re-work the mortgage leads until 90 days from the time of purchase and if you add them to your direct mail campaigns. Also use e-mail to initially contact and follow up with each mortgage lead, as Internet users like to communicate by e-mail. It is important to recognize the fact that people are all in varying stages of the buying process. Some of these consumers are in the early stage of information gathering and have a new mortgage loan on their “to do” list, but still have other family and work related priorities in front of getting a new mortgage loan done. Others may have talked to an LO who got to them first, and rightly or not realized they cannot accomplish their goals and will not be receptive to further calls in the short term. If you work these mortgage leads with intensity and dedication however, you will realize a huge return on your investment.

Of the 50% who you make contact with:
50% of your mortgage lead conversations should result in an application (25 % Application rate). Given the chance to speak with the borrower you need to do a great job managing the conversation and driving it towards a customer commitment to transact with you. You first need to build trust, confidence and deliver value and benefit so the borrower recognizes it as an efficient solution to their problem and feels comfortable providing you a 1003 application. It is important to sell yourself, sell the unique value proposition you and your company offers, and qualify the customer and what they are trying to accomplish. Ask them why they are not going with the last guy who did their loan or someone else they have already spoken too. They will tell you their “hot button” and how to sell them if you ask this. Selling to Mortgage Leads is no different than any other sale..it is important to make a connection with the consumer so they want to transact with YOU!

Out of the 25% you take an application from:
Well we all know at this point a lot of things can go badly. Everything from sub 500 FICO’s, to title liens, no assets, no value, high DTI, poor follow-up on your part, or another LO coming in and low-balling your deal. You should realistically expect a 2-5% funding rate (2-5 loans) from the 25 applications you took, as these mortgage lead customers are getting multiple quotes and will fall out of the process for a variety of reasons. That being said, if you continue to email and call these leads over a long period of time, you will come across many more deals than this 2%-5% as folks will fall out of their other deal, their timing will have changed, or their need is more pressing down the road. It is important to keep working these mortgage leads for long periods of time. Throw them at your new LO’s to cut their teeth on or send them to a call center for another pass as a lot of potential loans get left undone and the rewards will go to the diligent.

Managing you Return on Investment (ROI):
By now you should realize that 95 to 97 of the leads you have purchased will not result in a mortgage loan, but that’s OK and you need to get comfortable with that fact. Of the 2-5 mortgage leads that did result in a loan, you need to multiply it by how much in revenue was generated by those loans 2-5 loans and you will quickly realize how much sense working mortgage leads makes.

For example:
You Purchased 100 leads at $25 each.
Total 100 mortgage lead Campaign Cost: $2,500
You Closed 3 loans at an average revenue of $6,500 each or $19,500 total.
You realized a cost per funded loan (CPFL) of $833 per loan
Your ROI was 780% (you made back almost 8x what you spent)

Use this calculation to plug in your actual numbers and determine your ROI from your mortgage lead campaign with National Lead Service. Even if in the worst case scenario that only one loan out of 100 mortgage leads closes with a $5,000 total revenue, you are doubling your investment. There is very little risk and if you have talent and tenacity there is no reason why you wont do much better than even our first example. Buy some mortgage leads today, and we will work with you to optimize each campaign to continually improve your ROI metrics.