REFI Market

[florida man]

I use a company that can get any filter on the mortgage i want. Its 20 cents per lead. I do mailers to everyone so i didnt need the filter, but now with this idea, i certainly will!!!!!!!

cheers

[mamoore]

Sorry Guys. I have had a LONG DAY. 2 :30 am and I am finally done. Anyways, I am getting a batch of 2500 for 1200 Keep in mind that my brokers data is fresh as well. I know that I pay a bit more but I know what I am getting and I do not mind. I get so many filters to narrow it down to my "perfect prospect" The adjustables are one of the hardest leads to obtain as well. At least that is what I have found. Its true that you can get the county records and pull them individually , however there is too much time involved. Now I can get the pre-screened credit data leads for about the same price. I like them both. I also like the Renter lists with fico score filter. I am not sure if anyone is looking for language filters in this forum but they look like a good list for the right person.


One thing that I dont like is the fact that NO matter what their are some bad data on your lists. No refunds and no exchanges. So that is what keeps many people away. I also think that the contracts and the agreements have gotten way out of hand with script approvals and everything else, but it is worth it .

Heck The list that I am working on getting is Credit data cross-ref list on subprime lenders with 10% equity , 580 -650 mid score, 5% revolving deabt, filtered by comapny name and by PPP. That way I can call someone 1 month before the pre pay is up and knowing that they qualify for a loan and all I have to do is make sure they are not rural and get their employment info.

Now that is what I am looking for. O can get everything exceot the prepay info. Darn it. I am not even sure what my conv . rate would be but the day that list is available I am on it. LOL

BTW,Gold calling is a pretty cool way to utilize a list like these. I also would find a mailer you like and use the list that way. The lists add up and makes your farm bigger and better everyday.

I am trying somethig new and I am not sure if it will work or not but I am going to try it and see what happens.

I can get a homeowner list that will tell me who the bread winners favorite sport and favorite team. I am going to target market with a mailer.

I had recieved something in the mail from direct tv wanting to renew my NFL sunday ticket. The mailer was directed towards me , my favorite player and team. Of course I opened it. Now it was clever and I know what it was for right away.But the lightbuld went off/ I have no idea how I am going to get this to work but I foind how I can obtain a data card for sports and it would have to be cross-ref with a homeowner list and I know that it could be expensive. But I am going to try it.

My thought would be to have a team colored letter. Trifold. Then The outside would say something like Dallas Cowboys FAN on it.

When they open it they find that I am a football fan as well. It may have a team schedule if that is legal. It will also tell them about me and that throughout the loan process its fun to talk about other things than paperwork all the time or something like that. Again I am not sure if it will work but I am tryig it. I have tried many other ideas I have had and some fail and some dont. Right now I have two mailers that I use and they both are great. If the football mailer works and its inexpensive I will have yet another one. although the easiest way to get my business is by broadcasting and telemarketing .... BUT the dnc is starting to really have its effects. There are so many people oit there on the dnc and its difficult to get them to contact you. Sometimes being a bit creative will give you an edge.

Anyways as soon as I try it , I will let you all know.

I am also working on a new website concept and when that will be up and running very soon. This is one that I really stepped out on and it may work and as long as I can get an approval on it , I think that will bring me a ton of business.

I am doing the icecream truck this weekend as long as its nice.

I have been getting some business from the little leagues and that has finally been paying off. People know you. You may not Know them but they know you and it feels great and when they call you up and are saying more than I need a loan... it feels pretty good.

I am brainstorming on some other things and like many of you know, I like to try new things .

If anyone else has anything they are trying, please share.

And if anyone is interested.... I ran across 250k 2006 internet leads. They are old but they are perfect telemarketing leads. I am not selling them personally but I know the source and they are good. I think they wanted 7k for the whole batch.

late.

[florida man]

hi mark

sounds like you have a good thing going. I would love to share some new ideas but i dont have any. Lol. I just send mailers out and do my 6-8 loans a month. I am very impressed with some of the suggestions though!!!

cheers

[mk0325]

6-8 loans a month!!! WOW! I been doing this for 2 months and havent gotten 1 loan yet? All you are doing is sending out mailers? What types of mailers? Saying what?

[florida man]

mk.

I do business the old fashioned way. For now. I am a small fry. I alone sell the loans and my wife processes em. I have a netbranch thru aapex but i am taking my full broker test in Aug.

I advertise locally only. Starting in my zip code and spiral out. I am nowhere near ready to do the whole county, let alone the whole state , let alone multiple states. Why?

The industry is shrinking. There isnt enough easy biz to go around anymore. Retail lenders and broker shops are closing up, and the ones still around are getting more desperate every day.

Using the ameriquest, ditech, Quicken, and lending tree model, they too will advertise 'bait and switch' rates. All their rates include 546 buydown points in fine print. Trigger pulls from other Page Ranking*cks to steal odd loan you get , and cold calling from nebraska . Its all getting worse.

Stick to your own town, where you can become a member of the chamber of commerce. Network at social events, and MEET YOUR CLIENTS in person. This is how i am going to survive the market crash.

But its all relative. I know to you its like 'wow' i sure wish i had that many loans..... but GREG is getting 68 loans. To me its like 'HOLY SH*** ' so i know how you feel...............

We can take the positive and say -if this guy is doing it -so can I !!!

cheers

[mk0325]

Well thats what I want to do is send mailers to people only in my zip code. Also put 2 signs on the main street by our office. I just dont know where to get the address of those who are looking to refi, or need to refi, Where to get the postcards/mailers from, what to say on the mailers. I was thinking on putting some flyers in those grocery store magazines. The rack that has the little homes for sale books. I need to find something and stick to it.

[florida man]

mk

you seem like a decent fellow who also wants to help MBL as well. I ususally dont do this , but shoot me your email and i will send you my mailer

cheers

[mamoore]

Originally Posted by mk0325

I need to find something and stick to it.

You couldnt have said that any better. Many people try something and give up too quickly.

I once sent a mailer out. I didnt get one response. I was so sure that it was going to work but it didnt. SO rather than send my remaining mail pieces out or prepair for another one...... I throught my materials in the garbage and I started a different one. So almost a month went by... And I got a call. Then another and another. I was so confused.

To make a long story short. I had wrong zipcodes and luckily the post office was so kind to send them to the correct zipcodes without my knowledge. LOL

So I am still doing the mailer today but if it wasnt for the post office I would have scratched it.

Now When I try something new.... I really try it. I purchased gold calling annd even though it was difficult at 1st and I wanted to throw my PC because I thought there was too much to it. I use it now and I love it. I know of others who bought it and they dont even use it. WHY? because they wanted immediate results.

Same as lists, and any other marketing you do.

Try it a few times and if your really not getting anywhere find something else. When you find what works , still find other things and when you have a bunch of things working all at once and its a set rutine month in and month out. You willl know what needs to be done and when to do it and your time management is in your favor.

I have spent thousands on top of thousands and Some things have worked and some things have not.

Here is another thing that I do. I advertise with local schools . www.supportyourkids.org

Now I get some great name recognition and a few calls from it. But I knwo that my AD will be around for 5 years or even longer. And the proceeds go directly to the school.

They have also helped me with my campaign with BLUE COLLAR AMERICA.

Now they didnt contact the factories, I did. I spoke to the HR and unuion reps and who ever I could to get my foot in the door.

I started with John Deere and Delphi and GM . ALL of the companies that I could easily obtain a logo. Now let me back up for a minute .... when I say GM or Delphi... Its each individual location not the whole company.

What I offer is an alternative to their mortgage needs. Not everyone can get approved through a credit union. SO I OFFER the employees No cost NO obligation and an appraisal refund upon closing.

I then have supportyourkids.org custom print cups with a logo on one side and then my logo and contact info on the other side.

Heck for a grand I get a ton of cups.

Even for some othe the smaller shops I can get 200 cups if I need too. I do this here and there. Its not like I am getting a ton of business right away but I can say when one of the employees have a need..... I am called upon


Yes , it does cost money to make money but have fun when your decising what to spend your money on.

I once sent out a sented mailer thinking that the people would call me back because of the blueberry cobler smell. Not one call. I thought it was fun....but maybe some of the drug dogs @ the USPS ate my mailers. Who knows.
LOL

[florida man]

mark
your message is inspiring. I myself send inserts in the local rag. It works. I also do direct mail and network with the chamber of commerce. So far ive had one referral fund, and am branching out to putting logos on my mailer. The school that my daughter goes to is a good idea.

thats dude!!!

[robpet2]

I wanna say that there are great ideas being dropped in this forum. I'm new to the mortgage business and I'm about to start preparing mailers to send out.. are there any places online to get example letters for people trying to purchase or refi - or should it be written from the heart?

I'm in virginia and its a slightly different market here being that I work for a smaller brokerage that does business based on honesty and integrity, but there are so many of the walmart based mortgage companies like countrywide and ditech, wells fargo, and more that kind of have us little guys drillin for oil in quicksand...
I'm in sales now in my full time job , but I still work for the mortgage broker on my off days... but I can't leave the full time sales job until I get some deals done... in a catch 22 for the moment..
what are some good ways to generate business? ( working on real estate agents currently, and thinking about doing the website idea but the brokerage company already has there own site - would that be a conflict?)