Payday Loans Online Direct Lenders Only Loss Mitigation Leads Loan Modification Secret Tip!

18-Jul-2019 08:35 AM

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Internet Loss Mitigation Leads

Most loan modification leads are being generated online with banner ads and affiliate websites offering foreclosure prevention help. We have all seen these ads pop up all over the internet in response to the biggest increase of foreclosures in decades. The problem is that these ads are launched on a network of websites that sell the leads over and over decreasing your chance of closing a deal. Internet shoppers tend to be more competitive by nature and it doesn't help when you have 4 other brokers calling the same homeowner. Another problem is that the leads are not qualified and sometimes don't even remember filling out their information. These leads end up being just short of a cold call.

Telemarketed direct online lender Modification Leads

There is hope however. Call centers that do outbound telemarketing for mortgage companies are in a unique position to provide some of the most responsive telemarketed leads for loss mitigation and loan modification firms. While generating mortgage leads in a call center, thousands of calls must be made each day just to get a handful of qualified mortgage leads. The average conversion is 12,000 phone calls to generate 100 mortgage leads. The reason the ratio is so low is because so few Americans qualify for a traditional refinance these days. So what happens to the other 11,900 people that were contacted about their mortgage? Some of them already have the best rate possible, some were not responsive but the biggest reasons that the leads get disqualified are because their LTV was too high or their credit score was too low and a vast majority of these homeowners are either behind on their payments or currently facing foreclosure. With a few added qualifying questions an appointment can then be set or this new loss mitigation lead can be transferred directly to your office, where a payday loans with no lenders modification specialist can take the call right away.

Loss Mitigation Leads

The program is good, not only for the payday loans no credit check modification company but for the call center as well. As the old saying goes, one man's trash is another man's treasure. Due to the demographics making it easier to generate loss mitigation leads the price is a lot lower as well. Some call centers charge per hour for their telemarketers but since this campaign is not ran as a stand alone process the costs are a lot cheaper. The average exclusive mortgage lead can run up to $95 with filters like 640 and above fico scores and below 70% LTV (loan to value) and and a current interest rate above 7%. These are hard to come by even at $95. Most telemarketed loan modification leads range from $45 to $65 and come with guaranteed criteria filters as well as guaranteed exclusivity.

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Zachary Williamson is the Director of Business Development for The Lead Tree, LLC, a call center that does telemarketing for the mortgage industry. Zachary's tasks include working with the loss mitigation companies to customize telemarketing campaigns, including development of scripts and setting the filtering criteria.