For most of the year, loan companies have been searching for refinance leads with better conversion ratios. U.S mortgage demand increased again last week, led by a rebound in refinancing applications as mortgage rates hit the lowest levels of 2010. Bryan Dornan, the founder of the mortgage lead company, the Lead Planet said, “Mortgage marketing has been difficult in 2010 for lenders and brokers that focus solely onhome refinancing, because lending guidelines have tightened to a very uncomfortable level.” Finding a homeowner who qualifies for a refinance is ten times more difficult than it was just 3 years ago.
In the article, Lead Planet indicated that refinance lead volumes surged almost 20% last week. Apparently their lending partners utilized the increased lead volumes and new loans submitted into process increased tenfold. A spokesman for the Lead Planet said Purchase lead volumes rose 5.75% even though nationally home loan applications had come to a screeching halt.
Overall, mortgage demand increased 3.9% on a seasonally adjusted basis. Unadjusted, demand increased 3.4% from the week before. 30-year fixed-rate mortgages dropped from 5.02% to 4.96%, while rates of 15-year fixed-rate mortgages fell to 4.32% from 4.34%. Interest rates on one-year adjustable-rate mortgages decreased from 7.03% to 6.86%. Read the original article online > Lead Planet Reports Big Jump in Mortgage Refinance Lead Volumes
In a recent article, the Lead Planet reported a surge in demand for aged mortgage leads. The Lead Planet is a San Diego based lead generation company that specializes in internet mortgage leads. The mortgage marketing article noted that rejected loan applicants often become very good leads when the financial consultant offers loan modifications, debt settlement, or credit repair.
Vintage mortgage leads offer discounted marketing for many alternative financial companies. Typically aged leads are 50-60% less expensive than fresh internet mortgage leads. View the original Lead Planet Post >Cost Effective Marketing with Aged Mortgage Leads.
Despite the subprime mortgage meltdown, online lead generator, Lead Planet, is reporting an increase substantial in consumer requests for home loans. The California based mortgage marketing company said it received a record number of homeowner requests for refinancing in the 4th quarter of 2007 and the 1st quarter of 2008. The mortgage loan quotes during the first quarter of 2008 were up an astonishing 164% over the first quarter of 2007.
The Lead Planet ackowledges the increasing number of loan defaults and interest rate cuts as the primary reasons for the increased loan application volumes this year. According to Dan Ambrose, “Most of the mortgage companies that are left have shifted to reverse mortgages or FHA mortgage lending.”
Founded in 1999, the Lead Planet provides quality mortgage leads to lending professional. They remain a direct lead provider who generates loan applications directly from the consumer. The Lead Planet generates their leads on the internet through serach Engines like, Yahoo, MSN, Google and AOL. Ambrose “maintains that they do not buy leads from other lead aggregators.”
