Mortgage Loan Leads

2007-10-15 12:53:47

( Financial )



The Difficult Job of Loan Origination

Just as it is tough for individuals to search for the right loans, it is also equally tedious for lenders to find qualified borrowers. Lending and credit institutions face very stiff competition when it comes to offering the best mortgages at the most attractive rates and terms.

You need to spend a lot of time marketing your lending institution's loan products. However, you may be offering your loan packages to individuals or companies who may not even be interested.

Part of the problem is the timing and availability of qualified borrowers. Most prime borrowers usually apply only at limited places, and are able to get the terms they want almost immediately, and they are usually not as interested about getting new loans. On the other hand, the supply of less ideal borrowers is abundant, but these borrowers either cannot qualify for the loans they want or are not amenable to the more stringent loan terms.

Advantages of Mortgage Loan Leads

Now there are online marketing agencies that can give you mortgage loan leads. These agencies take on the job of attracting possible borrowers, interviewing them, confirming pertinent information, and then sending you the mortgage leads for a fee.

Some of these agencies may also be consumer loan counseling centers whose job is to advise clients of their loan qualifications and to refer them to lenders.

Thus you don't waste your time in having to look for the borrowers and researching about them. The agency already gives you adequate information about the borrower that helps you determine his qualifications. Then when you contact the borrower, you are ready with your loan offer.

Furthermore, the potential clients considered as mortgage leads have been pre-screened in terms of their motivation and interest in looking for new loans. You know that your mortgage leads are truly interested about getting new loans.

When you get mortgage loan and refinance leads, you actually take a short cut and remove the most tedious part of your loan origination process, and save lots of time and money.

Agencies that prepare lists of mortgage loan leads do not engage in any lending activities themselves, and therefore are not in competition with you or other lenders. These agencies also assure you that the list of mortgage leads they send you are exclusive to your company.

How to Get Mortgage Loan Leads

Many sites offer mortgage, refinance or auto loan leads for specified fees, depending on how many leads you want monthly. You will need to contact these mortgage leads online through e-mail in order to get the price and make arrangements.

You can pay for the mortgage loan leads by check, credit card, money order or wire transfer.


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