MortgageProcessor.com
FREQUENTLY ASKED QUESTIONS
Due to chaotic lead generation we have opted to stop selling leads. Our goal is excellent customer service, and our lead generation business had dropped below that level. For this reason we have decided to no longer sell mortgage leads. We could have easily gone on selling leads that were sub quality and made a lot of money. MortgageProcessor.com holds itself to a higher standard. If your looking for a processing company that prides itself on excellence, then please click here.
A little background is in order about how MortgageProcessor.com got into the leads business. We have been a mortgage processing company over the last 6+ years with broker and bank clients spread all over the United States. Anyone who has been in the broker business for more than a year or so knows that the market fluctuates with rates. When rates go up, most brokers have to work harder to find leads to close loans. So we went out on behalf of our brokers to find lead sources. We spent about 6 months doing research, and decided that exclusively internet based leads generated through e-mail offered the best return for the time and money invested by our clients.
We decided to sign up with multiple suppliers for stability, and use the combined buying power of our brokers to buy the leads at a wholesale cost. We then resell the leads for a small profit.
How long does it take to get started with this program? As soon as we receive your order and payment, we submit a purchase order with our suppliers. Suppliers take about 2 to 3 business days to start delivering new leads on your order.
When do I pay? When you submit each new request for leads, you fill out our payment screen and pay for the leads that you have ordered via credit card.
What is your refund policy? We will replace any leads with bogus information where you are not able to reach the customer or leads that are for mobile homes or purchase leads where the borrower does not own a property currently.
Will every borrower I call want a mortgage from me? Not every prospect you call will automatically want to get a mortgage through your company. Each lead has taken the time to fill out a request for information form that takes about 15 minutes to complete. They are requesting that someone call them to discuss their needs. These borrowers will still want information about your company and how you can help them to obtain a mortgage at a competitive rate. You will find that your time is well worth making phone calls to these people in setting up appointments with them. You will increase your closing ratios by calling each lead as quickly as you can get to it, and by offering a competitive product to your borrower.
How do you collect leads? We generate leads through bulk e-mail, and tele-marketing with our supplying companies and pass the finished lead directly to your e-mail address on a daily basis.
How long does it take to fill my order? We provide leads that have just come into our offices. These leads have been collected within the last 24 hours (weekends not included). As each new set of leads comes in, they are distributed to fill our existing orders. If you order 100 leads, we can normally fill that order within a week or so. Because so many factors influence how many leads are collected in a day it can be hard to say how long it will take to fill your order. By filling the orders as they come in you are always assured of being fresh in the borrowers mind. In addition, with no restrictions except for state, you will receive your order faster.
Why are Internet leads better than a marketing list or a telemarketing company? Marketing lists are generated for brokers with the intention of having the broker either calling, or mailing to the leads on that list. These are cold leads, and most brokers need to send out about 10,000 in order to find the borrowers that they need. The vast majority of people that are called, ore contacted by mail will not be interested in that brokers services. It takes time to create a mailer, wait for it to be delivered, and then field all the phone calls. Our leads have already told us that they need a mortgage and that they want to talk to a loan officer. Simply answer the prospects questions, and set an appointment to get the application. With our leads, you have 5 distinct advantages over mailing lists and newspaper ads:
Can you guarantee a specific closing ratio? Some brokers are very good at getting loans to closing, and others are still learning the process of closing loans. Your individual results will be based on your experience in the mortgage industry. We believe that you will find our leads much more responsive than telephone calls or newspaper ads. We have never had a customer tell us that the leads we sent were not worth the money they paid. Even if you only closed 10%, of our minimum order, you should recoup at least double the amount you paid for those leads based on average profit per loan.