Decisions, Decisions, Decisions ; Should lenders buy leads, build them - or just get them from Realtors?

Purchase-money lead generation has been the Holy Grail in the mortgage industry almost since inception, said Gene Devine, evp at First Fidelity Financial Corp (Fort Lauderdale, Florida). The idea of creating a predictive, steady stream of quality, new-customer purchase leads in a non-refi market has...

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Bibliographic Details
Published inMortgage Technology Vol. 12; no. 2; p. 30
Main Author Kersnar, Scott
Format Trade Publication Article
LanguageEnglish
Published New York SourceMedia 01.03.2005
Subjects
Alliances
Bank technology
Data warehouses
Internet
Loans
Marketing
Money markets
Mortgage banks
Mortgage companies
Real estate agents & brokers
Sales prospecting
United States > US
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Summary:Purchase-money lead generation has been the Holy Grail in the mortgage industry almost since inception, said Gene Devine, evp at First Fidelity Financial Corp (Fort Lauderdale, Florida). The idea of creating a predictive, steady stream of quality, new-customer purchase leads in a non-refi market has been a insurmountable task in the retail space. That goes for lenders marketing to existing borrowers or those looking for new prospects, said Devine. The challenge for the portfolio lender is determining what model or technology they are going to deploy to monitor their portfolio and then to determine the type of direct-marketing solution they need to try saving that customer. Lenders like MortgageIT and Quicken Loans insist on the importance of cultivating realtor relationships on a continuing working basis. Both say the key is performance; both say they have no trouble meeting the expectation of realtor partners.
ISSN:1098-4038