LoanAssist.com
FREQUENTLY ASKED QUESTIONS
A little background is in order about how LoanAssist.com got into the leads business. We have been a mortgage processing company over the last 5+ years with broker and bank clients spread all over the United States. Anyone who has been in the broker business for more than a year or so knows that the market fluctuates with rates. When rates go up, most brokers have to work harder to find leads to close loans. So we went out on behalf of our brokers to find lead sources. We spent about 6 months doing research, and decided that exclusively internet based leads generated through e-mail offered the best return for the time and money invested by our clients.
We decided to sign up with multiple suppliers for stability, and use the combined buying power of our brokers to buy the leads at a wholesale cost. We then resell the leads for a small profit. We look forward to helping you expand your business.
How long does it take to get started with this program? As soon as we receive your order and payment, we submit a purchase order with our suppliers. Suppliers take about 2 to 3 business days to start delivering new leads on your order.
When do I pay? When you submit each new request for leads, you fill out our payment screen and pay for the leads that you have ordered via personal or business check. We accept check by fax, checks mailed to us and money orders.
Can I pay with my credit card? At this time no. When working with suppliers, they require payment prior to all orders so we work on a cash basis for all orders.
What is your refund policy? We will refund money for any leads that we are unable to deliver to you. If you have unreachable leads we will verify this and credit your account if there are more than 1 per order.
Will every borrower I call want a mortgage from me? Not every prospect you call will automatically want to get a mortgage through your company. Each lead has taken the time to fill out a request for information form that takes about 15 minutes to complete. They are requesting that someone call them to discuss their needs. These borrowers will still want information about your company and how you can help them to obtain a mortgage at a competitive rate. You will find that your time is well worth making phone calls to these people in setting up appointments with them. You will increase your closing ratios by calling each lead as quickly as you can get to it, and by offering a competitive product to your borrower.
How do you collect leads? We primarily generate leads through bulk e-mail with our supplying companies and pass the finished lead directly to your e-mail address on a daily basis.
How long does it take to fill my order? We provide leads that have just come into our offices. These leads have been collected within the last 1 to 2 business days. As each new set of leads comes in, they are distributed to fill our existing orders. If you order 100 leads, we may be able to fill that order in 1 month, or it may take several. Because so many factors influence how many leads are collected in a day it can be hard to say how long it will take to fill your order. By filling the orders as they come in you are always assured of being fresh in the borrowers mind. In addition, with no restrictions except for state, and loan type, you will receive your order faster.
Why are Internet leads better than a marketing list? Marketing lists are generated for brokers with the intention of having the broker either calling, or mailing to the leads on that list. These are cold leads, and most brokers need to send out about 10,000 in order to find the borrowers that they need. The vast majority of people that are called, ore contacted by mail will not be interested in that brokers services. It takes time to create a mailer, wait for it to be delivered, and then field all the phone calls. Telemarketing is not much better, and your overhead is usually much higher. If you receive a lead from us today, you can call today. You don't need any fancy mailers, or extra telemarketing help. Simply answer the prospects questions, and set an appointment to get the application. With our leads, you have 3 distinct advantages over mailing lists:
Can you guarantee a specific closing ratio? Some brokers are very good at getting loans to closing, and others are still learning the process of closing loans. Your individual results will be based on your experience in the mortgage industry. We believe that you will find our leads much more responsive than telephone calls or newspaper ads. We have never had a customer tell us that the leads we sent were not worth the money they paid. Even if you only closed 10%, of our minimum order, you should recoup at least double the amount you paid for those leads based on average profit per loan. Give us a try and put your business into high gear!