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Here's how our Live Transfers are generated.
Borrower takes the time to express interest in doing something with their home financing, mainly on the internet, through our own sources. Our quality assurance staff then follows up with the borrower and verifies the information, makes sure they're currently not working with another Loan Officer, makes sure they are looking to do something with their home financing, and on all verification of information according to set criteria by the client we then transfer the borrower to a loan officer on the other line and the mini 1003 or 1103 as we like to call it is sent simultaneously to a specified email.
There is 100% contact rate guaranteed on this program and is one of the best I have ever seen.
The reason this is one of the most effective methods of marketing is simply because we have sparked enough interest with the already interested borrower for the loan officer to be able to take a full application at that very moment in time.
A toll free number will produce the same number of results and the same effectiveness as a direct mailer, your return is typically an average of only 3%-7%. More than likely these people are shoppers and are not guaranteed to not be working with another loan officer at this current point in time.
All different types of marketing have the potential to be extremely effective if they're used in the right way with the right people. Our target is a $300-$600 cost per funding and in high demand areas a $700-$1100 CPF.
Sorry for the long post, I had a lot of things to address and for some reason I wasn't receiving the email responses... Thanks!
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