How to Generate 27 Qualified Subprime Mortgage Leads Per Day
There are several benefits to focusing on subprime mortgage leads. One good reason for generating subprime mortgage leads is that the borrowers are less likely to shop your offer. Also, the commissions on subprime mortgage loans can be quite lucrative.
Ive found that one of the best ways to generate subprime mortgage leads is by direct mail.
So lets look at the steps involved in putting together a profitable direct mail campaign to generate subprime mortgage leads.
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...