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Fighting For the Mortgage Lead Scraps
from: Deb St. George - HomelessInKingCounty.comIf your business is relying on quality customers who are looking for mortgages, a dependable mortgage lead for your business, then you might want to look for companies that specialize in find them. There are many professionals out there looking for a good mortgage lead because bad ones cost them money. A realtor, for instance, may spend a lot of time looking at homes with a potential client only to find out after all that they did not even qualify for a mortgage. This is a huge drain of time and money for them. But, they aren’t the only ones looking for a decent mortgage lead.
If you are a mortgage broker, a good mortgage lead is your bread and butter right now. With fewer people in the market to buy and those that are being scrutinized more by lenders, you need quality referrals to be able to close and make your profit. If you find someone who can steer a good mortgage lead your way, they are worth their weight in gold because competition for good customers is fierce in the real estate market right now.
Despite the bad rap investors have gotten for the subprime fallout, there are still many investors out there buying up homes. These might be people waiting for the market to turn around and make a profit later, or those that buy foreclosed homes and resell them. Either way, they will also need to find buyers eventually and they also don’t want to waste time with poor mortgage leads.
Generating a good mortgage lead is becoming even more important for areas of the market that have to compete for customers. Strategies for developing a database of potential leads vary and some simply choose to call in a third party who specializes in this area. Realtors may be pushing clients to prequalify. Mortgage brokers that are able to generate a larger and more reliable customer base will survive the layoffs that are going across the board in this industry. Lenders are trying to work with old clients to help refinance loans and keep business, rather than take on another house that is foreclosed upon. This is certainly tough times for this industry and those that can network best with potential, credible, clients who qualify for a loan are going to survive the tough economic client that is present today. Those that don’t have the skills or the patience necessary to unearth the gems looking for a mortgage that qualify may have to find another niche or market that can prove more profitable for them in the short-term.
Mortgage News News
30-year mortgage rate falls to record 3.795 - Chicago Sun-Times
 USA TODAY | 30-year mortgage rate falls to record 3.795 Chicago Sun-Times By MARCY GORDON AP Business Writer May 17, 2012 2:52PM WASHINGTON (AP) — Average US rates for 30-year and 15-year fixed mortgages fell to record lows for the third straight week. The steady decline has made home-buying and refinancing more affordable ... Mortgage rates fall to another record low Fixed mortgage costs sink to record low US 30-Year Mortgage Rate Falls to Record 3.79 Pct. |
Fortress Gathering Capital for Mortgage-Servicing Rights - BusinessWeek
Fortress Gathering Capital for Mortgage-Servicing Rights BusinessWeek By Sabrina Willmer on May 17, 2012 Fortress Investment Group LLC (FIG) (FIG), the New York-based investment firm overseeing $46.4 billion, is seeking capital to buy residential mortgage-servicing rights as banks sell the loans, according to a ... |
Report: Foreclosure filings slow in Utah, US - Salt Lake Tribune
 ABC News | Report: Foreclosure filings slow in Utah, US Salt Lake Tribune The number of foreclosure-related filings — ranging from notices that a homeowner is behind on a mortgage to repossession by a bank — fell by 21 percent from April 2011 to last month, foreclosure listing firm RealtyTrac Inc. said Thursday. Foreclosures plunge to 5-year low in US recovery UPI NewsTrack Business |
Mortgage-Bond Transparency Plan Meets Resistance From Traders - Bloomberg
Mortgage-Bond Transparency Plan Meets Resistance From Traders Bloomberg The Financial Industry Regulatory Authority's latest plan to increase transparency in a corner of the $6.5 trillion mortgage-bond market is meeting resistance from Wall Street's largest lobbying group. Investors and dealers are concerned that the level ... |
Banks Law Office Represents Meridian Mortgage Investors In "Clawback" Claims ... - Seattle Post Intelligencer
Banks Law Office Represents Meridian Mortgage Investors In "Clawback" Claims ... Seattle Post Intelligencer Meridian Mortgage investors were unpleasantly surprised to receive a letter from the K&L Gates law firm demanding that they repay interest and dividends they may have received from their Meridian Mortgage investments (Seattle Times on the web 29 April ... |
Commercial-Mortgage Bonds Slide as $9 Billion Weighs on Market - Bloomberg
Commercial-Mortgage Bonds Slide as $9 Billion Weighs on Market Bloomberg Commercial-mortgage securities are slumping as a flood of bonds dumped on the market during the past month weighs on values amid mounting concerns that Europe's debt crisis can't be contained. Relative yields on top-ranked debt tied to property loans ... |
Fewer new mortgage problems in Maryland, more older ones - Baltimore Sun
 Bloomberg | Fewer new mortgage problems in Maryland, more older ones Baltimore Sun That's as of March, the newest figures from the Mortgage Bankers Association. There's an argument brewing over why Maryland has a big backlog of pre-foreclosure and foreclosure cases -- the so-called "shadow inventory" that, odds are, will eventually ... Maryland's New Mortgage Delinquencies Improve First Quarter Mortgage Delinquencies Drop to 7.40 Percent Nationwide Mortgage group: Loans past due and in foreclosure at 4-year low |