Mortgage Leads, Proceed with Caution
Jay Conners
If you are one of the ones that have invested money in lead companies in the past, than you fall into one of two categories.
Those that have lost money to lead companies, and those that are going to loose money to lead companies.
Loan officers have every reason to be skeptical of lead companies. However, if you are considering taking a shot with a mortgage lead company, here are a few things to keep in mind.
For starters, take your time, and do as much research as you can. Remember, you work hard for your money, so make sure those hard earned dollars will result in a return on your investment.
Speak with someone in the customer service department of the lead company you are considering. Find out where and how they obtain their leads. If they do not use their own web sites to obtain their leads, than move onto the next company.
If they are not using their own sites, than most likely they are buying them from a third party, and selling them second hand. So you can be sure that they have passed through the hands of many other loan officers.
Find out how they sell the lead and how it is delivered. Is it sold exclusively, or non exclusively? Can you cherry pick the lead, or is it a real time, streamline process? Either way works. It just depends on your style, preference, and most important, your time.
In the end, it is the quality of the lead that makes the difference. It just may be worth your while to spend a few extra bucks on a lead to ensure you are getting good quality.
Also, keep in mind, when speaking with someone in customer service, the quality of the service you receive, can be a good indicator of the quality of the lead you receive.
About the author:
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.
The latest information and news on Mortgages:
Mortgage Lending Down 1.5 Pct as Rates Inch Up
Mortgage applications fall 1.5 percent as rates tick up from lowest level in decades Mortgage - Business - Financial Services - United States - Loan
Mortgage Bonds Decline in U.S. After Home Refinancings Outpace Expectation
Mortgage bonds with U.S. government guarantees fell relative to Treasuries after data showed more homeowners with low interest rates refinancing than some analysts expected.
Mortgage activity slowed in week
WASHINGTON, Sept. 8 (UPI) -- The Mortgage Bankers Association said Wednesday U.S. mortgage activity decreased in the latest weekly survey, while interest rates increased. Mortgage Bankers Association - Business - Financial Services - Interest rate - Mortgages
Mortgage sales jump 11 per cent
Mortgage sales have jumped 11 per cent in August in Australia.
Mortgage Lending the Focus of New Obama Plans
Mortgage lending is the focus of a new plan rolled out from the Obama administration. The effort is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth. Starting Tuesday, the Fed...
Yahoo! News Search Results for refinance
NABARD To Refinance About INR400 Billion Of Loans This Fiscal Year
NABARD To Refinance About INR400 Billion Of Loans This Fiscal Year
Refinance plan has its critics
The government will launch a refinance program this month that targets homeowners who are underwater on their mortgage but have not missed a monthly payment.
Banks? Rush to Refinance Spurs Surge in Bond Sales
Commerzbank AG and UniCredit SpA are leading 8.5 billion euros ($10.8 billion) of bank bond sales today, the most in five weeks, as lenders rush to refinance almost a quarter-trillion euros of debt due this year.
Bond refinance to save Northwest Central Dispatch about $323,000
Arlington Heights has turned the bad economy into good news for communities who are members of the Northwest Central Dispatch System, by refinancing almost $3 million in bonds at a lower interest rate.
Alliant Techsystems seeks to refinance loans
Military contractor Alliant Techsystems Inc. said Wednesday it is talking to a group of lenders about refinancing its existing senior credit facilities.