Purchasing a list from Martin Worldwide and have a question.

[COLOANHound]

My partner and I are purchasing a consumer mortgage list from Martin Worldwide containing <90% ltv, homeowners, LA $200K-$1M, consumer credit rating 7-9 and phone #'s. Our plan was to call all of these and pitch the good old option arm. I am questioning whether or not this method will work. Anyone have any input? I just couldn't stay away.

[The Bid Chief]

COLO -

what quantity of records are you buying and at what price?...there are a lot of other companies out there that sell lead lists with a much greater ROI than the company you named...they advertise a ton but in my opinion, the feedback I hear is always a little less than enthusiastic...

Martin is a decent company but I would focus on a company who only does mortgage data...the data hygiene will be be a lot better and the components that make this kind of list work well (accuracy of attributes, credit risk scores, revolving debt balances, last mortgage open dates, mortgage amounts, lender names, LTV's, DNC scrubbed phone numbers, etc)

Most list companies get their source info from 3 major companies. Most, do nothing else to the data and sell it "as is".

The good ones spend the extra bucks on the demographic attributes that are most important to LO's.

Just my 2 cents -

The Bid Chief

[COLOANHound]

The list is for 5,000 @ $685. I expressed some concern about the quality and didn't receive the answer I was looking for, so I'm putting it on hold. Do you have any particular companies in mind, that would allow me these certain favorable attributes and the highest quality?

[The Bid Chief]

COLO - what did you do here? Did you buy the list? If you want some recommendations on mortgage only data companies just drop me a line. I'll be glad to point you in the right direction.

The Bid Chief

[COLOANHound]

No I didn't use them, other people told me to stay away as well. What I am really looking for are borrowers that would easily qualify for an option arm. So I think a mortgage only data company would be best.

I really try and make the sale from a retirement planning standpoint, and the only way to maximize the savings is with a pay option.

[David Polaniuk]

If you check out Martin Worldwide on the BBB (www.bbb.org) they rank with a fairly low rating. Through word-of-mouth from colleagues and by doing my homework I found there were many complaints about quality of lists as well as disputes over their warranty or return policy.

I'm curious as to other's experiences in buying dialing lists. I have tried both outsourcing and inhouse lead generation and it really does come down to list quality to keep this type of marketing sustainable and lucrative.

Any suggestions on where to look for mortgage specific lists ("mortgage specific" seems to be the most reliable)? I'm always looking for a reliable source. Any direction is always appreciated.

[harv]

The data they sent me did not meet my criteria and doesn't work very well as far as I can tell. It was full of nonexistant people and businesses where I asked very specifically for residentials. They tried to fix the problem by sending me another list where they made sure all the addresses had apartment or suite numbers. It was also full of hair salons, massage parlors, pizza parlors, etc. Still no satisfaction from them. Their mailing address is a mail boxes etc type place, not their place of business. Be very careful in dealing with them. Their purchase agreement is draconian.

[brendo927]

sounds like my infousa days as a telemarketer. Except we actually knew on the cards that it was a business lol. Self-employed business cards were what we used. We got a lot of apps and I wonder if a lot of them closed.