5 Kinds of Internet Mortgage Leads

Even lending professionals who use Internet mortgage leads regularly may think there are just two kinds: live transfer leads and those delivered by email. Actually, there are at least five kinds of Internet mortgage leads. The value of each depends on how much time you can devote to calling, which loan products you specialize in, and how strong your sales skills are. Here is a primer on the kinds of leads that available today:

An Internet lead originates with an online search by a consumer seeking a solution to financial challenge. This fact alone distinguishes an Internet lead from any other leads, since it indicates a proactive, solution-oriented mindset. All other leads are a reaction to enticement—an ad, an offer, a giveaway. The consumer takes the “bait,” but the impetus came from without, not from within. An Internet lead represents a consumer who is self-motivated, and thus much more interested in buying.

The depth of interest in confirmed in the next step of gathering an Internet lead: the consumer completes an online form requesting contact. The significance of that step is two-fold: 1) the consumer is further qualified by his or her willingness to share information in a form, and 2) the consumer knows upfront that he or she will be contacted by a professional, and agrees to the arrangement. Truth is, the consumer wants to be contacted by someone who can help.

Knowing these facts, here are six things to keep in mind.

1. Organically generated leads. The value of an Internet mortgage lead is proportional to the amount of effort the consumer expends to create it. The more effort required, the more motivated the consumer is, and the more qualified the lead will be. A consumer who clicks on a banner ad and fills out a brief form is not nearly as qualified as one who proactively searches for a solution to a financial challenge using a search engine, finds and browses a financial website, and completes an online form, knowing that he or she will be called by a lending professional with a quote. A lead generated from an organic search, as opposed to an online ad, is a more qualified, more closeable lead.
   
   
2. “Mortgage Plus” leads. Until now, the problem with Internet mortgage leads—even organically generated leads—was that the consumer provided background information about his or her loan situation. A recent survey by Bankrate.com revealed that 37 percent of home loan customers did not know what type of mortgage they had. In addition, some consumers consciously or unconsciously exaggerate details about their homes and financial situation. To eliminate consumer error, iLeads.com developed a patented process to take advantage of our relationship with First American Financial to produce mortgage leads in real time based on real property and loan information. Our “Mortgage Plus” leads give you details such as appraised value, equity position, loan type, APN, and more—all at no additional charge to you. These long-form leads eliminate the time-consuming back-and-forth with consumers and allow you to better gauge which loan products are right for the situation, enabling you to close more loans.
   
   
3. Enhanced ARM leads. With more than four million ARMs scheduled to reset in the next three years, lending professionals have an opportunity to offer market remediation to many homeowners caught in the credit crunch. The problem, of course, is knowing who is resetting, when they are resetting, and how much equity is in the home. Our ARM leads provide all of that information plus details about original lender, the current interest rate, the recast rate, the maximum allowable interest rate, and more. All ARM leads are vetted against the federal Do-Not-Call registry to guarantee compliance.
   
   
4. Hot Transfers. Traditional organic leads and the new enhanced Mortgage Plus leads both are emailed in real time or emailed in batches. In a best-case scenario, the consumer is still online, searching for a solution, when the lending professional calls. Often, however, the loan officer or mortgage broker has to call more than once to reach the consumer. Hot transfer leads eliminate the time-consuming process of reaching the consumer by making sure he or she is on the line when you connect to the call. In addition, our U.S.-based call center further qualifies the consumer before connecting to you. As a result, you speak to a qualified, prepared, and lead every time.
   
   
5. Vintage leads. Not every consumer signs with the first lending professionals to call. That does not mean that they are not ready or willing to deal. Many loan officers and mortgage brokers find these gently aged leads offer a great sales opportunity because they have been pre-sold by competitors and only need that final push to complete a deal. Because our vintage leads are not provided in real-time and most likely have been contacted, we offer them at a reduced price, providing an exceptional ROI opportunity. They also are ideal for new hires who are still learning how to sell on the phone.
   
   Internet mortgage leads vary by price, depending on a number of factors, with the more labor-intensive hot transfers costing the most and vintage leads costing the least. To give our clients a competitive edge, we offer our Mortgage Plus leads at the same price that we charged for our traditional organic leads. The best lead is the one with the greatest ROI, factoring in all variables, including the time it takes to reach and close the lead. We at iLeads.com know that lending professionals are not all the same, so we make sure you have a range of options to fit your individual style.

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