Free Mortgage Leads, Can You Afford Them?

Posted by Nick Niesen on October 29th, 2010

For loan officers and mortgage brokers on the market for good mortgage leads, the quality of the lead should be a top priority when determining which companies product to invest in. If you are a loan officer or mortgage broker on the market for mortgage leads, make sure the mortgage lead company you are considering has a great return system.

If you do decide to go with a mortgage lead company, look for the mortgage lead companies that sell their leads in ?real time,? this way you will be receiving fresh leads, and you will be able to count ontheir quality.

This is imperative because most mortgage lead companies will sell their leads up to six times and your customer may already be working with your competitors and not feel the need to call you back.

If the lead company does not own and operate the sites they obtain their leads from, than keep going until you find one that does. If they are not obtaining their leads through sites they own and operate on their own, than the leads are not fresh, and you need to move onto the next lead company.

According to the Mortgage Bankers Association, the slowdown is seen in the entire industry, affecting builders, lenders, real estate agents, brokers and credit companies.

Another bonus of getting a lower interest rate may mean that you can pay off the mortgage loan amount in less time. Fixed Rate loan ? The 2nd mortgage at a fixed rate loan is very siilar to a first mortgage where you can get a large payment and then pay up the loan in installments over a set period of time.

One of the reasons that these types of more complex loans are increasingly common on the market is that mortgage lenders have better data support and tools for estimating risk as well as better credit scoring data presented.

If you are a loan officer or mortgage broker interested in the purchase of fresh leads, be sure you know where the lead provider is obtaining their leads from in order to test their quality.

This is imperative because most mortgage lead companies will sell their leads many times over and your customer may already be working with your competitors and not feel the need to call you back. For loan officers and mortgage brokers on the market for mortgage leads, the quality of the lead should be a top priority when determining which companies product to invest in. If you are a loan officer or mortgage broker on the market for mortgage leads, make sure the mortgage lead company you are considering has a good return policy.

Steer clear of the mortgage lead companies that purchase their leads from third party vendors and than sell them to loan officers at a profit.A lot of lead companies purchase their leads in bulk from third party companies, then turn around and sell them to loan officers at a profit.