Mortgage leads companies are using new technology to increase activity, improve efficiency and boost customer retention. A growing number of lead providers have added loan modification leads to their menus.
Customers of Calyx Software now have the ability to synchronize leads from multiple lead generation companies in real time using Leads360 Inc., a May 27 news release said. The integration also enables automated updating of conversion data on a nightly basis.
“As part of accelerating the sales process, the new Leads360-Point bi-directional integration will allow mortgage professionals to more quickly convert qualified leads by avoiding manual data entry,” the statement said.
On Tuesday, LendingTree LLC announced new technology that enables lenders to develop leads from their existing servicing portfolios. The customer retention product identifies borrowers who are actively seeking refinance options at competing companies. Customers are identified by loan amount, loan-to-value and FICO score as well as loan purpose.
Earlier this month, LendingTree reported that it added more than 50 new lenders to its lending exchange — bringing the total to “hundreds.”
LendingTree parent Tree.com Inc. reported a first-quarter net profit of $3 million — a $10 million improvement over the fourth quarter and $13 million better than a year earlier.
A beta launch of the LeadClass Quality Scoring System was announced by LeadPoint. The new offering has resulted in double-digit monthly growth in daily transactional revenue of leads traded on the marketplace since it went live in March. A quality filtering component in LeadPoint’s trading platform boosts the price of leads that are more likely to close.
LeadPoint, which claims to be “the world’s first and largest leads exchange marketplace,” said that one factor that determines lead quality is how well the lead information matches up with third-party databases. Another factor is the historical performance for the type of direct marketing campaign used.
Version 2.0 of Mortgage Marvel has been unveiled, Mortgagebot said last month. The update attempts to generate more lead prospects by providing real-time quotes to prospective borrowers based on data they input including credit score, zip code, property value and loan amount. No private data is required.
Borrowers who don’t know their credit scores are either prompted through a series of six questions to help develop a credit score range or directed to an outside Web site to determine their score, Mortgagebot said.
Originators who purchase voice broadcasting packages with at least 100 live transfer leads from Kelly Media Group Inc. will also receive 15 free Internet leads, according to an announcement last month. Another 15 Internet leads are provided for each package of 100 live transfer leads purchased. Leads, which are rated by urgency, can be for new loans or for loan modifications.
A national television commercial has been produced for SpotLight Media in an effort to generate loan modification leads, a May 28 statement said. The commercial creates “instant credibility,” leading to an enhanced closing ratio.
Leadsnet Inc. said in a May 14 press release that its new portal, www.commercialmodification.com, has generated an increasing number of commercial mortgage modification requests since launching in January 2009. Loan amounts average $2.5 million, and LTVs average around 80 percent.
