Mortgage Leads, Junk vs. Real Time
Jay Conners
If you are a loan officer or mortgage broker and you are on the market for mortgage leads, you may want to research the companies you are considering to determine exactly what kind of leads you will be receiving. Not to mention, where they are coming from.
A junk lead is classified as a lead that is old or recycled by many loan officers and many lead companies. It may come cheap, but chances are, it won't be worth the two dollars you spent on it.
A real time lead is a lead that is considered fresh. Meaning, you will receive it on the same day the applicant fills out the on-line form. If the lead is any older than a day, it can hardly be considered real time.
When researching mortgage lead companies, be sure to find out where the mortgage lead company is obtaining their leads from.
If they obtain them from web sites they own and operate themselves, where they are directing potential clients to fill out on-line forms, you can safely assume that you will be receiving fresh, real time leads.
If the customer service rep for the mortgage lead company you are considering starts dodging your questions, than you can safely assume that the leads are not fresh.
This is not to say that the lead company does not have good leads to offer, but it would be wise on your part to find out exactly where the leads are coming from to be sure you are getting the best quality leads for your money.
In the end, it all depends on what you are looking for. Quality or quantity.
Quantity will most likely get you hang ups and answers such as " I closed that loan weeks ago," or "I filled out that application months ago." If you are tired of these scenarios, you should definitely consider going with quality mortgage leads, otherwise known as real time mortgage leads, it just might be worth your while. Best of luck.
Jay Conners has more than fifteen years of experience in the banking and Mortgage Industry, He is the owner of http://www.jconners.com, a mortgage resource site, he is also the owner of http://www.callprospect.com, a mortgage lead company.
About the author:
A junk lead is classified as a lead that is old or recycled by many loan officers and many lead companies. It may come cheap, but chances are, it won't be worth the two dollars you spent on it.
The latest information and news on Mortgages:
Mortgage rates hit decades-low of 4.32 percent
Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
Mortgage rates hit record low: Freddie Mac
U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.
Mortgage rates at record lows
WASHINGTON (AP) - Mortgage rates have fallen to the lowest level in decades for the tenth time in 11 weeks.
Mortgage rates still heading south
Mortgage interest rates have fallen for the 10th time in the last 11 weeks, according to Freddie Mac's report on what lenders are offering to borrowers with solid credit and 20% down payments or home equity. Freddie Mac's weekly survey...
Mortgage Bankers group spent $745K lobbying in 2Q
The Mortgage Bankers Association spent $745,000 in the second quarter to lobby the federal government on issues including banking regulations, housing issues and reforms to the financial system.
Yahoo! News Search Results for refinance
Home mortgage refinance rates are low
Home mortgage refinance rates are low right now. How can you capture the best rate?
Owners decide to keep EQT Plaza, refinance debt
The 32-story EQT Plaza, Downtown, has been pulled off the market as its owner, Blackstone Group of New York, has decided to refinance its debt and retain ownership.
Dana Blair of Love Funding Closes $6.56 Million Refinance Loan for Multifamil...
Dallas - Love Funding today announced that its Dallas office closed a $6,560,000 non-recourse loan for the refinance of Aspen Chase, a 288-unit multifamily housing complex located in Dallas.
More homeowners rush to refinance
Low rates means more homeowners are looking to refinance but a shaky housing market puts the damper on new mortgages.
Should you stretch out a refinance?
It might make more sense to increase the length of your mortgage to free up some cash.