Mailing Lists Make a Difference in Mortgage Marketing

Sunday, June 27th, 2010 at 8:08 am  
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Mailing Lists make a difference with Mortgage Marketing

When it comes to using direct mail for mortgage prospecting, targeting the right audience can make the difference between success and failure. In today’s market, you not only want to reach a responsive audience, but also one that will ultimately qualify for the loan. Below are some of the choices available for the savvy mortgage marketer.

The Property Mortgage Database allows you to pinpoint households by filtering property and mortgage loan related elements, such as property type, home assessed value, loan origination date, and the original loan amount. Estimated home value is also available on this file, which allows you to predict the LTV or equity position. This database is compiled from the County Courthouse records department and is only as accurate as the county records are kept.

The Credit Bureau Database allows you to pinpoint households by filtering the credit worthiness of the potential borrower. Some of the selects are actual credit score, loan balance, revolving credit card amount and loan origination date. Estimated home value is also appended to this file, which allows you to predict the LTV or equity position. This database is compiled from the credit bureau and is considered to be very accurate. Since the FTC governs access to this type of data, a firm offer of credit must be made in order to be compliant.

The ARM Reset Database allows you to pinpoint households by filtering the actual day in which the adjustable rate mortgage holder will experience an interest rate change on their mortgage, and therefore, a payment increase as well. Some of the filters are month of initial reset, property type, interest rate, estimated (combined) LTV and loan amount. This database is compiled from the ARM Riders in the loan documentation at the County Courthouse.

The more you know about the people on your mailing list, the better you can communicate to them. The ideal scenario is to identify clusters of potential prospects within the mailing list and version your message differently to each one. It’s been proven, time and time again, that message versioning to the right audience will typically give significant lift in your response rate.

For more information on targeted mailing lists for the mortgage marketer, you can reach Jerrad Jordan with BB Direct, Inc at (866) 501-6273. You can also find more information one of their websites at www.armresetleads.com, www.triggerleadsdirect.com, or www.bbdirect.com.

Mortgage Marketing in a Down Market

Times are tough in the mortgage industry. Over the past several years, many lenders have extended more money to sub-prime borrowers. Additionally, an over-built America has caused the price of new home sales to slump, eating away at the equity of many homeowners who have been depending on that savings for retirement. The outcome is a very finite amount of quality prospects from which to offer your loan products.

So what’s a mortgage broker to do in a down market?

Get back to the basics.

Focus on your referral agents by keeping them informed with the changes in the market and how these changes might affect people they know.

Reach out to the builders needing help selling their inventory.

Sit down with these builders and listen to them. Get a full understanding of how many properties they will have available in the next 6 to 12 months and what they expect to sell. How many homes are reserve high-end homes, second homes and starter homes? Put together definitive solutions for meeting your builders’ lending goals.

Get a firm grasp of who you can loan to and focus solely on these individuals.

It’s been said that the FHA is the new sub-prime loan. Managing your lender relationships is just as important as managing your customer pipeline. Take inventory of specifically what you can and cannot do, and hunt for clients that fit within those guidelines.

Never stop marketing.

It’s vitally important to keep your name in front of your prospects. It’s even more important when the market is lean and mean. With fewer brokers vying for the same business, your message has a greater chance of getting attention and making a lasting impression.

Never do lunch alone.

If you’re plan is to build your mortgage business, you must develop your ability to invite people to lunch, and be able to tactfully engage in a productive dialog. Ask questions and get to the heart of who they know and how to move forward. Connecting with people on a personal level is important to many business professions, but is vital to the mortgage broker. If you don’t have this gift, develop it or find a new career-your livelihood is depending on it.

If you would like to learn more about mortgage marketing, you can reach Jerrad Jordan with BB Direct at (866) 501-6273 or find them on the web at one of their websites: www.BBDirect.com, www.ARMResetLeads.com, or www.TriggerLeadsDirect.com.



By: Brian Berg

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The Value of Mortgage Leads

Saturday, June 26th, 2010 at 3:34 am  
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If you want to promote a mortgage program, be prepared to pay a pretty penny if you try to utilize online advertising methods such as Google Adwords. Currently, in order to grab the keyword ‘mortgage’ you will have to pay at least $10.95 per click. This means if you get 1,000 clicks to your mortgage program, you will have to pay $10,950. And with the average conversion rate being just 1 percent, that means you’ll only be getting 10 sales. Now, maybe if you’re a mortgage company you can afford to pay $10,950 for 10 sales, since you’ll be making hundreds of thousands more. But if you’re an affiliate promoting a mortgage program, you should consider a better alternative… mortgage leads.

What are mortgage leads? Mortgage leads are a collection of data pertaining to individuals that would be interested in a mortgage or refinancing loan. They are gathered by marketing companies who use a variety of methods both online and offline to collect them. Some of these methods involve extracting data from public records. Others use methods that make it easier to acquire more personal information. For example, a marketing company could conduct an online survey of a group of individuals. Or, maybe they get the data from realtors, banks or other entities having access to such information. Either way, most mortgage leads will contain enough information to allow for a direct mail campaign. This means at the very least, a basic package of mortgage leads will provide you with a person’s name and address and whether or not they own a home.

There are also more specific mortgage leads. These are known as mortgage trigger leads or exclusive mortgage leads. Mortgage trigger leads collect data based on a person’s credit report. Usually, with mortgage trigger leads, the person had just made an inquiry, indicating they are obviously interested in a mortgage loan. Mortgage trigger leads are a bit more expensive, because they target a niche of people that are very interested in getting a loan. This translates into a better conversion rate.

Then there are exclusive mortgage leads, another type of more specialized mortgage leads. They do not target highly-convertible leads like mortgage trigger leads do, but they offer another invaluable advantage… exclusivity. Just as their namesake indicates, with exclusive mortgage leads, your list is sold only to you. This means that you don’t have to worry about other marketers or mortgage companies trying to reach the clients that you are also trying to advertise to. But, just like mortgage trigger leads, expect to pay a little bit more for the exclusivity.

Price-wise, the fees associated with mortgage leads will depend on the company you decide to work with. But generally, they will range from a few cents to a few dollars. If you’re low on funds, it’s best that you just order the minimal amount of mortgage leads, like maybe 1,000 or so. From there you need to decide how you’re going to do your direct mail campaign. Believe it or not it doesn’t have to be fancy. There are plenty of marketers that use regular stamps and Microsoft Office-created flyers to advertise to their mortgage leads. In fact, doing things this way is a great method to affordably determine if your mortgage leads will convert. All you have to do is get a pack of 100 stamps, (which are available from USPS for just $41), a color cartridge, a pack of paper and envelopes. All together these things should cost less than $100. From there, you can test your market, mailing out flyers to 100 mortgage leads at a time. You’ll want to aim for a 10 percent conversion rate, which means 10 sales. If you’re not getting the sales you’re looking for, you can consider changing your flyer or even thinking about whether your mortgage leads were worthwhile to begin with.

Disclaimer:This blog or article is for information purpose only, and should not be treated a professional advise or price protection guarantee. This blog is mainly used for search engine optimization and other commercial purposes and it is advised that readers seek professional consultation in the field of interest for more information.



By: Black Book Data

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Reverse Mortgage Lending | Reverse Mortgage Leads – Qualified Seniors Who Need Cash

Friday, June 25th, 2010 at 11:56 pm  
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REVERSEMORTGAGELEADS

Did you know…

·  7,918 people in the US turn 60 years old every day, 330 per hour, 24/7.

·  5,574 people in the US turn 65 years old every day, 232 per hour, 24/7.

·  Over 23 million seniors are homeowners.

·  85% of senior homeowners want to remain in their home for the rest of their lives.

·  63% of homeowners from 65 to 74 years old have no mortgage at all.

·  $3 trillion in estimated equity in homes owned by seniors.

·  13.2 million households are candidates for a Reverse Mortgage.

 Qualified Seniors 62+ Who Need Cash 

Across the country, more and more senior citizens are facing the conflict of living on a fixed income while having to pay rising costs for energy and other daily needs. Consequently, reverse mortgages are gaining in popularity as a way for senior homeowners to receive cash against the value of their home, but unlike other loans, they are not required to pay the loan back on a monthly basis – in fact, the loan doesn’t have to be paid back as long as they live in the home. Reverse mortgage leads are an up and coming segment of the market, but without the saturation facing the refinance area.

  Internet Leads * Live Call Transfer Leads * Data Lists * Direct Mail * Voice Broadcasting * Tele-marketing

Start Speaking To Qualified & Motivated Borrowers Today!

Many senior citizens are faced with bleak futures and dire financial situations. Oftentimes, health care costs have eaten up all of their savings and they’re left with little more than a pitiful government handout. That’s where you come in. Why not unlock the equity in the borrowers home and provide them with a reliable, steady cashflow that they can life from? Not only will they thank you, but you’ll feel good that you’ve helped someone and be rewarded in more ways than one!





Reverse Mortgage Market Less than 1% Penetrated

According to a press release from Hollister Group, LLC & NRMLA, Americans age 62 or older hold an estimated $4.3 trillion of home equity.  The index(RMMI) which was launched last week is the first market indicator to collect critical market, housing and demographic data, as well as track and project the market for reverse mortgages.  According to the press release, in the first quarter of 2007, there was a $19 billion increase in senior home equity.  This increase was reflected in a 0.4% increase in the RMMI to 205.6 from 204.7 in the prior quarter.  The index will be updated to reflect the current value of senior home equity on a quarterly basis. 

Interesting observations and statistics from the inaugural launch of the RMMI, include:

·     RMMI projects as much as $37 trillion in home value by 2030, from which home equity figures are derived, assuming historical appreciation and taking into account the demographic shift as boomers begin to turn 62;

·     The average home equity in a senior-owned household is estimated to be about $230,000 according to the Hollister Group;

·     Current $19B growth in Q1 2007 is the lowest increase of all quarters from 2000;

·     2006 and 2007 experienced the strongest growth in home equity – $464 billion and $600 billion respectively.

Reverse Mortgage Market Currently at $4.3 Trillion, Less than 1% Penetrated

For More Information, Pricing and to tailor a lead campaign please contact a lead specialist:

585-478-3335

High Impact Direct Mail Campaigns & Data Lists

Data Filters:

Available Home Equity, Lender Type, Loan Date, Loan to Value Ratio, Total Loans, Property Type, Home Size, Foreclosure Date, Lender Name, Loan Interest, Purchase Amount, Home Value, Trust Owned, Lot Size, Lendable Home Equity, Loan Amount, Transaction Type, Purchase Date, Homeowner Type, Year Built, Adult Age, and many more!

 



By: Joshua R. Conklin

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