Easy Mortgage Marketing Programs

Mortgage Broker Lead Services

Every successful mortgage broker or loan officer has three main activities that he tends to every workday, training loan officers, generating leads and following up on existing leads, which in turn will go into generating loans. We are here to help in the first 2 aspects of your day, generating mortgage leads and training loan officers.

On average a broker converts one out of every four leads into an application. Getting people to come to them, like them and let them find their loan is what it is all about, the loan process can be daunting for borrowers, First it starts with a rate quote, usually a potential borrower will ask you what your rates are or about a Good Faith Estimate for your rate and fees. To decide this you will need to know what type of loan is being requested and what the credit situation is, then you can start quoting rates Among possible fees for service is a fee called an origination fee that is usually 1% of a loan amount. This is the creation of the mortgage application.

After this it is time to fill out the loan application (1003) you will try and put together everything to help him qualify and turn it all over to the processor (processes all information and makes it presentable) who will package it and lock it, then it takes a few days at the underwriters (this is the longest part of the process, they make sure that all the information is there so that the loan can be approved) before it is agreed upon. Now the processor calls the title company to open title and arrange closing, the money is wired from the lender to the title company and once the borrower shows proof that he has obtained homeowner’s insurance the documents can be signed and the loan closed. Most of the time a consumer can get a better deal from a broker than from a lender.

This is because brokers work on a commission and are much more willing to negotiate as this is their paycheck whereas loan officers are typically salaried. Mortgage brokers originate over a trillion dollars in loans every year; the average loan taking up to 30 days to close. They provide consumers with extensive choices, and access to affordable loans during the complex mortgage process. A consumer can find a mortgage broker in many ways but referrals are at the top of the list, because they are walking talking billboards. Integrity here means a healthy business and making sure that the customers understands the product available is key.

Mortgages are needed all the time with summer being the busiest so as not to disturb the school year, and December the slowest time with thoughts on the holidays. Refinancing is another situation for the mortgage broker, when the rates go down people want to take advantage, even people who bought a house one year earlier can be refinanced. Easy money for the savvy broker who can help their customers make home improvements, start a business, etc.. This all starts with the introductory mailing, a call to the steady stream of customers.

Learn more about Mortgage Brokering Here

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