urthouse Data and Tax Roll Information - Real time entries of note riders and other deed of trust/trustee information that allows people to see exactly details like arm expiration dates, interest rates, home value LTV etc… BUT... Compiled Data be inaccurate and aggregated at times, mailing and telemarketing projects can be expensive to get off the ground. There is definitely better data available but at a slightly higher cost per thousand.

Modeled Scored Data - Cost effective, good for targeting specific credit demographics combined with mortg

Some companies are not set up well to use certain products, some have enough layers (openers/jr. LO, etc…) to work with cold data to cultivate successful marketing. Within this article we will explore the pro's and Con's of the different mortgage marketing method that have been proven money makers for our company.

Hot Transfers - A pre-qualified person on the phone. Great for experienced and mid-career LO’s, especially if the lead is solid and well qualified. BUT... Hot transfers have the highest cost to create / purchase, quality of pre-transfer information can be poor and most vendors are simply looking for a way to get any client to agree to transfer. Shopping rate by client is not significantly lower.

Phone Calls from Ads - An incoming call is always a great way to attract business, brand and trust are usually instant with this type of lead. BUT... The calls might not always a qualified lead and your sales crew will need to learn to qualify quickly at the beginning of the conversation, many are shoppers or people looking because they have been turned around elsewhere, test different media and format to optimize this investment.

Internet and Telemarketing Leads - Generally a some what responsive lead, purchased internet and telemarketing leads are usually in the market and have spoken to more than one lender. They are looking for the best deal. BUT... Internet and Telemarketing Leads are often over priced and the self-reported information can be manipulated and incorrect, especially if clients are looking to target specific credit grades. Most are extreme shoppers and work hard to get the very best deal.

Trigger Leads - Triggers are some times frowned upon but are Low Cost for a Response Lead, Trigger is 24 hour Mortgage Credit Inquiry. Very competitively priced for their cost, trigger leads are true response leads because they have actually had their credit run for a mortgage application and the pitch is typically for you to ask if you can try to beat their offer. BUT... They have not expressly asked to speak with you nor do they necessarily want to speak with other lenders. However, most are willing to entertain a second opinion.

Custom Compiled Courthouse Data and Tax Roll Information - Real time entries of note riders and other deed of trust/trustee information that allows people to see exactly details like arm expiration dates, interest rates, home value LTV etc… BUT... Compiled Data be inaccurate and aggregated at times, mailing and telemarketing projects can be expensive to get off the ground. There is definitely better data available but at a slightly higher cost per thousand.

Modeled Scored Data - Cost effective, good for targeting specific credit demographics combined with mortga

fer information can be poor and most vendors are simply looking for a way to get any client to agree to transfer. Shopping rate by client is not significantly lower.

Phone Calls from Ads - An incoming call is always a great way to attract business, brand and trust are usually instant with this type of lead. BUT... The calls might not always a qualified lead and your sales crew will need to learn to qualify quickly at the beginning of the conversation, many are shoppers or people looking because they have been turned around elsewhere, test different media and format to optimize this investment.

Internet and Telemarketing Leads - Generally a some what responsive lead, purchased internet and telemarketing leads are usually in the market and have spoken to more than one lender. They are looking for the best deal. BUT... Internet and Telemarketing Leads are often over priced and the self-reported information can be manipulated and incorrect, especially if clients are looking to target specific credit grades. Most are extreme shoppers and work hard to get the very best deal.

Trigger Leads - Triggers are some times frowned upon but are Low Cost for a Response Lead, Trigger is 24 hour Mortgage Credit Inquiry. Very competitively priced for their cost, trigger leads are true response leads because they have actually had their credit run for a mortgage application and the pitch is typically for you to ask if you can try to beat their offer. BUT... They have not expressly asked to speak with you nor do they necessarily want to speak with other lenders. However, most are willing to entertain a second opinion.

Custom Compiled Courthouse Data and Tax Roll Information - Real time entries of note riders and other deed of trust/trustee information that allows people to see exactly details like arm expiration dates, interest rates, home value LTV etc… BUT... Compiled Data be inaccurate and aggregated at times, mailing and telemarketing projects can be expensive to get off the ground. There is definitely better data available but at a slightly higher cost per thousand.

Modeled Scored Data - Cost effective, good for targeting specific credit demographics combined with mortg

erent media and format to optimize this investment.

Internet and Telemarketing Leads - Generally a some what responsive lead, purchased internet and telemarketing leads are usually in the market and have spoken to more than one lender. They are looking for the best deal. BUT... Internet and Telemarketing Leads are often over priced and the self-reported information can be manipulated and incorrect, especially if clients are looking to target specific credit grades. Most are extreme shoppers and work hard to get the very best deal.

Trigger Leads - Triggers are some times frowned upon but are Low Cost for a Response Lead, Trigger is 24 hour Mortgage Credit Inquiry. Very competitively priced for their cost, trigger leads are true response leads because they have actually had their credit run for a mortgage application and the pitch is typically for you to ask if you can try to beat their offer. BUT... They have not expressly asked to speak with you nor do they necessarily want to speak with other lenders. However, most are willing to entertain a second opinion.

Custom Compiled Courthouse Data and Tax Roll Information - Real time entries of note riders and other deed of trust/trustee information that allows people to see exactly details like arm expiration dates, interest rates, home value LTV etc… BUT... Compiled Data be inaccurate and aggregated at times, mailing and telemarketing projects can be expensive to get off the ground. There is definitely better data available but at a slightly higher cost per thousand.

Modeled Scored Data - Cost effective, good for targeting specific credit demographics combined with mortg

Leads - Triggers are some times frowned upon but are Low Cost for a Response Lead, Trigger is 24 hour Mortgage Credit Inquiry. Very competitively priced for their cost, trigger leads are true response leads because they have actually had their credit run for a mortgage application and the pitch is typically for you to ask if you can try to beat their offer. BUT... They have not expressly asked to speak with you nor do they necessarily want to speak with other lenders. However, most are willing to entertain a second opinion.

Custom Compiled Courthouse Data and Tax Roll Information - Real time entries of note riders and other deed of trust/trustee information that allows people to see exactly details like arm expiration dates, interest rates, home value LTV etc… BUT... Compiled Data be inaccurate and aggregated at times, mailing and telemarketing projects can be expensive to get off the ground. There is definitely better data available but at a slightly higher cost per thousand.

Modeled Scored Data - Cost effective, good for targeting specific credit demographics combined with mortg

urthouse Data and Tax Roll Information - Real time entries of note riders and other deed of trust/trustee information that allows people to see exactly details like arm expiration dates, interest rates, home value LTV etc… BUT... Compiled Data be inaccurate and aggregated at times, mailing and telemarketing projects can be expensive to get off the ground. There is definitely better data available but at a slightly higher cost per thousand.

Modeled Scored Data - Cost effective, good for targeting specific credit demographics combined with mortgage demographics from compiles information. Can save a lot of hassle in dealing with unqualified respondents. Just as flexible as County Recorder / Tax Assessor Data but half the price of actual scored data. BUT... Ranged Scores are not actual and thus are not good for firm offers of credit programs. Extra costs are added for mortgage related information and this file.

Exact Credit Score Lists - Most bureaus offer almost anything you could find on a credit report including score, consumer and mortgage actual debt amounts and payments, late payment status, etc... This data is also updated bi-weekly which makes it the most up to date mortgagor database on the market. BUT... Scored Data is priced at the high end of the data spectrum, this data requires good marketing follow through and is also great for training new telemarketers on how to approach someone that does meet certain credit/risk qualifications. Compliance is thorough on this data as well.

I hope that sharing this information from my years of experience marketing mortgages helps some of you, I am interested in your feedback o the different data types and methods that I have outlined.