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Suggest You - How to Generate 27 Qualified Subprime Mortgage Leads Per Day
Whether you're ready to give up the 9-to-5 grind and be your own boss, or whether you're looking for a second income, there are many home business opportunities available today. The widest variety - and some would say most lucrative - income opportunities are found on the Internet. Likewise, the home based business is increasingly based entirely upon online marketing, advertising, networking, and sales. In other words, you never have to leave the comfort of your own home in order to successfully achieve your financial goals.The Heart of Home Business OpportunitiesBut at the heart of most of these business opportunities is the MLM, or multi-level marketing approach. An MLM involves what's called an "upline" and a "downline." Your
How to conduct Split Testing
Instruct your printer to separate your list into 3 groups:
1) Group 1 will be 80% of your list
2) Group 2 will be 10% of your list
3) And group 3 will consist of the last 10% of your list
4) Make sure the groups are randomly selected
Next…
1) Mail your original letter to group 1
2) Make ONE very small change to the original letter and mail it to group 2
3) Then, make another very small change to the original letter and mail it to group 3
4) Track your results and see which version of the letter had the highest number of calls, applications, loans originated and loans funded.
5) Make the winner your original letter an
The Small Business Association states that over 90% of businesses fail within their first year of operation and a greater portion of those enterprises still in business unfortunately cease to exist within just three short years. The birth of the Zippo Lighter effectively summarizes just how hard business success is to obtain and George G. Blaisdell, the founder of Zippo can only be sumarized as a business inspiration for all entrepreneurs!George G. Blaisdell’s adolescent years can best be described as alternative and strong-willed. Mr. Blaisdell absolutely hated school and decided in his 5th year of elementary school that he would no longer attend. George’s father however tried to force him in the right path by sending him to the milit
I’ve found that one of the best ways to generate subprime mortgage leads is by direct mail.
So let’s look at the steps involved in putting together a profitable direct mail campaign to generate subprime mortgage leads.
Prospect List
There are two sources I recommend for obtaining your mailing lists – list companies and credit agencies.
Here are two sample criteria to request from list companies in order to target subprime borrowers:
1) Get a list of home owners who have just filed a chapter 13 bankruptcy. Do a cash out refinance and pay off their chapter 13 bankruptcy.
2) Get a list of people who originated a loan with a subprime lender at least 2 to 5 years ago. Their pre payment penalty will be expired and they will be ready to refinance.
Here are two list ideas when working with a credit agency to obtain your subprime mortgage lead mailing list:
1) Find homeowners who need help with their finances. Get a list of homeowners who are currently 30 days late on their first mortgage loan. Or, get a list of home owners who have a certain number of consumer lates 30, 60, or 90 in the past 6 to 12 months.
2) Select borrowers with a low credit score. You select the credit score range based on your loan programs.
Combine these with other criteria to better target your prospects. Here are two more list criteria ideas:
1) Homeowners with $15K to $50K outstanding revolving debt
2) Properties that have an LTV of 80% or less
Mail Piece
Here are a few important basics you’ll need to incorporate into your mail piece:
Personalized content
* Give sample payments.
* Tell them how much money the new loan will save then monthly and over the next 5 years.
Tell them about your unique selling propositions (USP’s)
* 1% mortgage loan options
* No closing cost options
* No payment for 2 months
* Are they already approved? If so, let them know in the letter
Be sure to comply with the state banking regulations in your area. Include the following in your mail piece:
* Equal housing lender logo
* State license number
* Disclose APR’s
Share some personal information about yourself under your signature
Your title
Years in the mortgage business
Awards you’ve received
Degrees or certifications you’ve earned
Hobbies
Interests
Here are examples:
Your Signature
Your Name
Senior Mortgage Planner
10 Years Mortgage Experience
Licensed Financial Planner
Married with 3 children
Single mother of two
Youth basketball coach
To get a complementary refinance letter that has produced more than $2,500,000 in mortgage commissions over the last 12 months visit:
http://www.Mortgage-Leads-Generator.com/a/refiletter.htm
Use Split Testing to Improve Your Conversion Rates
Now that you have a list of prospects and a mail piece, it’s time to mail. The secret to direct mail success is testing. If you test different elements of your direct mail campaign, you will find ways to increase conversion rates. Over time, you will have a mail campaign that will generate huge returns.
How to conduct Split Testing
Instruct your printer to separate your list into 3 groups:
1) Group 1 will be 80% of your list
2) Group 2 will be 10% of your list
3) And group 3 will consist of the last 10% of your list
4) Make sure the groups are randomly selected
Next…
1) Mail your original letter to group 1
2) Make ONE very small change to the original letter and mail it to group 2
3) Then, make another very small change to the original letter and mail it to group 3
4) Track your results and see which version of the letter had the highest number of calls, applications, loans originated and loans funded.
5) Make the winner your original letter and
Real Estate agents all over the US are finding that the aggressive use of real estate postcards to promote their name and services is very effective in gaining new clients and increasing commissions. Let’s examine why postcards work.Real Estate Postcards are both affordable and attention-grabbing. Because a postcard doesn't need an envelope, your message has a head start at getting attention. The start of any successful marketing effort begins with an attention-grabbing first impression.Real estate marketing postcards have been around for a long time, and have been loved by marketing professionals because they are highly visible and tend to generate response. With today’s printing technology, full-color real estate postcar
2) Get a list of people who originated a loan with a subprime lender at least 2 to 5 years ago. Their pre payment penalty will be expired and they will be ready to refinance.
Here are two list ideas when working with a credit agency to obtain your subprime mortgage lead mailing list:
1) Find homeowners who need help with their finances. Get a list of homeowners who are currently 30 days late on their first mortgage loan. Or, get a list of home owners who have a certain number of consumer lates 30, 60, or 90 in the past 6 to 12 months.
2) Select borrowers with a low credit score. You select the credit score range based on your loan programs.
Combine these with other criteria to better target your prospects. Here are two more list criteria ideas:
1) Homeowners with $15K to $50K outstanding revolving debt
2) Properties that have an LTV of 80% or less
Mail Piece
Here are a few important basics you’ll need to incorporate into your mail piece:
Personalized content
* Give sample payments.
* Tell them how much money the new loan will save then monthly and over the next 5 years.
Tell them about your unique selling propositions (USP’s)
* 1% mortgage loan options
* No closing cost options
* No payment for 2 months
* Are they already approved? If so, let them know in the letter
Be sure to comply with the state banking regulations in your area. Include the following in your mail piece:
* Equal housing lender logo
* State license number
* Disclose APR’s
Share some personal information about yourself under your signature
Your title
Years in the mortgage business
Awards you’ve received
Degrees or certifications you’ve earned
Hobbies
Interests
Here are examples:
Your Signature
Your Name
Senior Mortgage Planner
10 Years Mortgage Experience
Licensed Financial Planner
Married with 3 children
Single mother of two
Youth basketball coach
To get a complementary refinance letter that has produced more than $2,500,000 in mortgage commissions over the last 12 months visit:
http://www.Mortgage-Leads-Generator.com/a/refiletter.htm
Use Split Testing to Improve Your Conversion Rates
Now that you have a list of prospects and a mail piece, it’s time to mail. The secret to direct mail success is testing. If you test different elements of your direct mail campaign, you will find ways to increase conversion rates. Over time, you will have a mail campaign that will generate huge returns.
How to conduct Split Testing
Instruct your printer to separate your list into 3 groups:
1) Group 1 will be 80% of your list
2) Group 2 will be 10% of your list
3) And group 3 will consist of the last 10% of your list
4) Make sure the groups are randomly selected
Next…
1) Mail your original letter to group 1
2) Make ONE very small change to the original letter and mail it to group 2
3) Then, make another very small change to the original letter and mail it to group 3
4) Track your results and see which version of the letter had the highest number of calls, applications, loans originated and loans funded.
5) Make the winner your original letter an
I believe that small business marketing and selling follows a certain flow. The pace of the flow may differ depending on what you’re selling, but I still see the flow for virtually every small business. If you acknowledge and understand the flow for your own business then you can implement processes and systems to work within the flow. I call it Mastering the ABCD’s of marketing and selling.Attention. The first step in the flow for attracting new clients is gaining attention. Your prospects need to know you exist and want to know more. This is going to be accomplished by effectively communicating your key marketing message. It comes down to what you say when someone ask what you do, or what attention grabbing headline you use in
Mail Piece
Here are a few important basics you’ll need to incorporate into your mail piece:
Personalized content
* Give sample payments.
* Tell them how much money the new loan will save then monthly and over the next 5 years.
Tell them about your unique selling propositions (USP’s)
* 1% mortgage loan options
* No closing cost options
* No payment for 2 months
* Are they already approved? If so, let them know in the letter
Be sure to comply with the state banking regulations in your area. Include the following in your mail piece:
* Equal housing lender logo
* State license number
* Disclose APR’s
Share some personal information about yourself under your signature
Your title
Years in the mortgage business
Awards you’ve received
Degrees or certifications you’ve earned
Hobbies
Interests
Here are examples:
Your Signature
Your Name
Senior Mortgage Planner
10 Years Mortgage Experience
Licensed Financial Planner
Married with 3 children
Single mother of two
Youth basketball coach
To get a complementary refinance letter that has produced more than $2,500,000 in mortgage commissions over the last 12 months visit:
http://www.Mortgage-Leads-Generator.com/a/refiletter.htm
Use Split Testing to Improve Your Conversion Rates
Now that you have a list of prospects and a mail piece, it’s time to mail. The secret to direct mail success is testing. If you test different elements of your direct mail campaign, you will find ways to increase conversion rates. Over time, you will have a mail campaign that will generate huge returns.
How to conduct Split Testing
Instruct your printer to separate your list into 3 groups:
1) Group 1 will be 80% of your list
2) Group 2 will be 10% of your list
3) And group 3 will consist of the last 10% of your list
4) Make sure the groups are randomly selected
Next…
1) Mail your original letter to group 1
2) Make ONE very small change to the original letter and mail it to group 2
3) Then, make another very small change to the original letter and mail it to group 3
4) Track your results and see which version of the letter had the highest number of calls, applications, loans originated and loans funded.
5) Make the winner your original letter an
As I was thinking about the reliability of the implication about campaign materials I’d come across the valuable business tool for modern marketers - postcard.It is often implied that postcards are ideal tool to have because they are very economical and can be easily packaged. Simple and portable these cards are very handy to be carried and sent via mail.More often people mistakenly interpret the use of postcards. They only perceive it as a valuable tool for greeting, used for special occasions and used to announce special events. What they can’t see is that postcard can be widely used a marketing tool.Postcards as a valuable tool for business – many advertisers make use of this card because they are simple, economical an
Awards you’ve received
Degrees or certifications you’ve earned
Hobbies
Interests
Here are examples:
Your Signature
Your Name
Senior Mortgage Planner
10 Years Mortgage Experience
Licensed Financial Planner
Married with 3 children
Single mother of two
Youth basketball coach
To get a complementary refinance letter that has produced more than $2,500,000 in mortgage commissions over the last 12 months visit:
http://www.Mortgage-Leads-Generator.com/a/refiletter.htm
Use Split Testing to Improve Your Conversion Rates
Now that you have a list of prospects and a mail piece, it’s time to mail. The secret to direct mail success is testing. If you test different elements of your direct mail campaign, you will find ways to increase conversion rates. Over time, you will have a mail campaign that will generate huge returns.
How to conduct Split Testing
Instruct your printer to separate your list into 3 groups:
1) Group 1 will be 80% of your list
2) Group 2 will be 10% of your list
3) And group 3 will consist of the last 10% of your list
4) Make sure the groups are randomly selected
Next…
1) Mail your original letter to group 1
2) Make ONE very small change to the original letter and mail it to group 2
3) Then, make another very small change to the original letter and mail it to group 3
4) Track your results and see which version of the letter had the highest number of calls, applications, loans originated and loans funded.
5) Make the winner your original letter an
Ever since our team returned from last year’s major SEO conventions our team has been ignited with new, bold and innovative ideas. I don't think there has been any point in our eight year history that we have had a better team assembled. We've got more ideas on the table than we'll be able to implement within the next twelve months. That's both good and bad. Many of the ideas are simply spectacular but we lack the resources to implement them while maintaining focus on our core business. The price of innovating minds, I guess!One of the things that has come up over our conversations and strategy meetings is our mission statement. We battled it around a bit and came up with a mission statement that we like and one which everybody in our
How to conduct Split Testing
Instruct your printer to separate your list into 3 groups:
1) Group 1 will be 80% of your list
2) Group 2 will be 10% of your list
3) And group 3 will consist of the last 10% of your list
4) Make sure the groups are randomly selected
Next…
1) Mail your original letter to group 1
2) Make ONE very small change to the original letter and mail it to group 2
3) Then, make another very small change to the original letter and mail it to group 3
4) Track your results and see which version of the letter had the highest number of calls, applications, loans originated and loans funded.
5) Make the winner your original letter and start all over again
Do you see what you have just done? It’s called split testing. If you do this consistently, you can continue to increase your conversion rate, get more leads, fund more loans and make more money!
Here are some ideas for changes:
* Use a website address instead of a phone number
* Use a website address with a phone number
* Add a heading
* Change one paragraph
* Experiment with the PS
* Offer a coupon or something for free (appraisal, processing, etc)
* Add Red Headlines to your letter
* Use different envelopes
* Talk about different and unique USP’s
Be sure to only make one small change at a time. If you make massive changes you won’t know what specific change affected your conversion rate.
Don’t underestimate the power of this testing. If you mail 2,500 letters a week, a 1% increase in response will give you an extra 25 calls per week. That’s an extra 100 calls per month. At a measly 10% conversion rate, that’s an extra 10 loans per month.
That could easily equate to an extra $50,000 to $90,000 in commissions every month!
I am confident that a strong direct mail campaign will help you generate more subprime mortgage leads. Try these tips and you’ll be amazed at your results!
Please feel free to reprint this article as long as the resource box is left intact and all links are hyperlinked.
Hartley Pinn has recently created the "Mortgage Leads Generator" Training Course to teach mortgage loan officers 10 proven strategies for generating more than 71 mortgage leads per day.
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