How to Get Mortgage Loan Leads
Mortgage originators typically need a steady supply of new prospects to maintain a sufficient volume of business. Some mortgage originators depend on company-provided lead sources to meet certain sales goals. However, if your company retains a limited supply of leads or the number of inbound calls has decreased, you can buy mortgage leads or network with prospective referral sources. It might take a bit of work, but you can locate some quality leads.
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Instructions
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Make a list that contains the types of mortgage leads that you need, such as purchase money, refinance or debt consolidation leads.
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Contact several list brokers to comparison-shop the costs of leads and the quality. Ask the list broker if the leads are sold multiple times or if you will have exclusivity for each lead. Some brokers sell leads to four or more mortgage companies, and you may obtain an over-saturated list.
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Provide a lead broker with details about the types of leads you want, such as records that contain phone numbers, certain loan amounts and qualifying credit scores. For instance, you can request 5,000 leads within certain zip codes that are refinance leads. You could request loan sizes above $125,000, as well as borrowers who have owned a home for more than two years and have credit scores above 680 points.
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Distribute promotional letters and business cards to real estate agents, accountants, financial planners, insurance representatives, auto dealers and home improvement companies to obtain mortgage loan leads.
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Resources
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