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 Mortgage Loan Leads - What You Need to Know 
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Joined: Mon Sep 13, 2010 1:47 pm
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Post Mortgage Loan Leads - What You Need to Know
by: Kathy Hildebrand



When you're planning to move, those costs should be considered and planned for ahead of time. It's not cheap. A move can cost thousands of dollars. That is, when you're leaving all the work to someone else.

And work it is: not only do all your things have to be packed, loaded, and transported, but there is preliminary work in the meantime that you'll have to do anyway that is less possible to farm out to someone else. Sorting your belongings, deciding what to keep and what to give away, and making arrangements for things that the professional movers won't do anyway.

Taking control of your own move can shave hundreds or even thousands of dollars off your move. This is especially true if you're not moving a huge amount of stuff. If you do have a large amount of stuff, now may be a good time to get rid of most of it. What things aren't you using anymore, and can't foresee any use for? Sometimes it can be tricky -- and emotional -- deciding what to keep and what to toss or donate.

Here's one way of approaching this task: get yourself a number of boxes. Start gathering up all your things -- you have to anyway to pack, right? -- and fill the boxes according to three designations: boxes for items that are "friends" (things you like and use often, for which there is no question you're taking them with you); boxes for "acquaintances" (things you use rarely, and like but could live without), and boxes for "strangers" (you don't even remember you have them, don't care for them, and wouldn't miss them if you left them behind). In addition to boxes of stuff, include furniture. Many people don't even like their furniture, and their bed is old and should be replaced anyway (8 years is a typical mattress's lifespan), so be honest with yourself about what you plan to drag along with you. Remember, every inch of that moving truck has a price tag attached. Gas mileage suffers the heavier the load is, too.

Now, pack only the boxes with items you consider to be friends. You don't have as much of these as you thought, probably! Now, order your moving truck size based on the space you will need to load only these items. You're saving money already!

Since there will likely be some extra space, since the truck won't be exactly the square footage needed for the friends, you can fit in some acquaintances too. Resist pack rat tendencies. The more stuff you bring, the less room you'll have at your new place. Also, all that loading and unloading costs you in time and energy. However, don't throw out truly loved items just because your use for them is limited to once or twice a year. If you have to buy everything all new all over again because it actually is needed in your life, then it may indeed be worth it to bring with you. Just don't let sentiment turn into a sentence!

Now that you've taken care of your own stuff, consider the transportation of living things: yourself, your family, pets, and plants. Obviously you need room for everyone you're bringing with you, and may have to rent another vehicle to accomplish this. Make sure jackets, first aid, prescriptions, sunscreen, and snacks are handy and not packed away. Don't subject yourself to stinging glare on the road because your sunglasses got inadvertently tucked away at the bottom of a suitcase. And if you have children, they should have something to read or play with on the road so boredom doesn't drive them stir crazy.

Often it's not only humans that are moving to a new home. Long distance moving companies will not move your pets for you, so arrange to have your pets accompany you. Consult your vet about the best way to go about this, espWhen choosing a mortgage loan lead campaign, lead quality needs to be considered. Lead quality is determined by a number of factors. Each seasoned loan officer should be receiving, and working on, at least 3-5 "quality" leads per day unless they yield the same results through a consistent referral basis. The 3-5 range should keep their pipelines full and give them time to work out all the loans they are doing throughout the workweek. There is no time or money to be wasted, now that the mortgage loan industry has changed. Here some terminology will be discussed, questions, and insider perspectives on the mortgage lead industry. Some tips will also be provided on how to best use the leads you receive.

There are many questions you should ask your marketing company:

1. How are the leads generated (telemarketers, internet, the bureaus, television, radio, etc.)? There is a huge difference between borrowers who have been solicited by call centers or pop up ads on the internet, as opposed to borrowers who have initiated contact because they are in the market for obtaining or refinancing their mortgage loan. You know what it's like to be called by a telemarketer, rather than picking up the phone and calling someone yourself. Individuals are usually far more motivated to get something done by the time they are personally calling and are therefore easier to speak to, get information from, and at least begin the process of the loan. Consumers who have been contacted by a "stranger" tend to be, understandably, more reluctant to give out personal information.

2. Are you a lead aggregate or lead origination company (do you generate your own leads)? About 90% of the lead companies out there are aggregates, also known as lead brokers, meaning they buy mortgage loan leads generated by other people in massive volumes to resell to you. This way, high quantities of leads can be provided. Unfortunately, you don't know how many other times the originator sold these leads as well as the company from whom you are purchasing them. Also, many of these companies work with call centers abroad and websites that may be using gimmicks that will cost you dearly when the consumer expects something promised by the ad they originally responded to. The aggregate companies may not even know or be able to tell you exactly how and where these leads were generated.

Lead origination or generation companies generate their own leads via their own websites, call centers, and other media. If you are dealing with an honorable company, you will get what you pay for. However, the disadvantage may be the number of *leads* they are able to provide you with. This may result in lulls in your program, especially if you are licensed in limited states or put high demands and filters on the leads you want to receive.

3. How exclusive are the leads? When you buy an exclusive mortgage loan lead from a lead origination company, as opposed to an aggregate, it will be 100% exclusive.

4. Are you affiliated with the Better Business Bureau (many lead companies are not)?

5. How long have you been in business (should be more than 2 years)?

6. What is the estimated application ratio on these leads (should be at least 15%)? The application ratio is very important; even more so than the closing ratio. That's because the closing ratio depends more on you and your ability to offer the programs, services, and rapport with the customer.

Especially if you will be going through several climate changes. Of course you will need to supply them with sufficient breaks along the way for food, water, and exercise. There are many ways to increase your pets' comfort and minimize the stress of the experience. Also, your plants will need special care and handling so they are not traumatized by climactic changes and drying out. Ask for advise at your local nursery for the best ways of transporting your plant friends.

The bottom line for many people will come down to budget. Movers cost money, and it may or may not be necessary for all people who move to incur those costs.

About The Author
Kathy Hildebrand is a professional writer who is easily bored with her "day job" assignments. So, she researches anything and everything of interest and starts writing. Writing about an extremely wide variety of subjects keeps her skills sharp, and gives her food for thought on future paid writing assignments.

More of her research and articles can be found at http://www.lasertargeted.com/mortgage and other sites around the internet.




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Fri Dec 26, 2008 3:44 pm
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