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Cominex1,
My company is going to be buying a program called "Leads to Loans". We have asked our atty the proper questions about giving these leads to L.O.s and he seems to think we are not violating RESPA. Since the overall cost broken down over the year would be miniscule. We actually will be more compliant giving more leads out to break the per item cost down to pennies.
Leads to loans or metro scan are great programs that list mortgages in a given area by interest rate, date of filing and amount. When I was an LO i used Leads to Loans exclusively. They give AMAZING returns. Isolating your market is paramount to effective mail campaigns. From the first forty I sent out, I got two replys. Unfortunately neither qualified, but the return beat the national mail return average.
You need to use a letter for this campaign, I would not do postcards. I put their current lender and interest rate in the letter so they knew this was not some arbitrary mailing. The letter went something like this.
Dear Mr. Borrower, (important you use their name)
I understand you currently have a 9.5% adjustable interest rate with IndyMac Bank, according to public records. I am sure you are already looking to lock in a low fixed interest rate before your adjustment goes up. (Be assertive and leading) (If they are not looking, they should feel they should be looking) I have been a successful mortgage professional for (x) years and have always strived to exceed my client's expectations. When you are ready to experience unparalleled service and care, I invite you call me to review your options. I look forward to servicing you!
Warmest Regards,
(XXXXX) First name only
Remember, you only get one chance and about five seconds for this. Make it short and to the point. Mean what you say! Make it personal.
(And when you're ready to experience superior title service, call me)
George
Contemporary Title Solutions
George W. Booth
Director, National Sales
20 E. McDermott Drive
Allen, Tx. 75002
216-373-6859 (phone)
972-649-0055 (fax)
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