Turn Mortgage Industry Trends Into Lead Generation Opportunities

by Aidan P

Recognize and leverage these industry trends into mortgage lead generation opportunities…

There are a lot of changes happening on the real estate and mortgage landscape. Whether you love them on the surface or not, all can be incredible opportunities for generating more loan volume.

Non-Traditional Financing Surging in the Marketplace

Mortgage lead generation
The
World Property Journal reports that “We’ve continued to see strong and growing demand through the Midwest and Southeast for lease options and other unconventional rental options that allow highly-qualified renters to move towards home ownership.” Renters are tired of soaring rental rates that are outpacing wage growth. Millions are enjoying rebounding credit according to the credit bureaus. Yet, many just don’t trust the banks right now, or fear they won’t be able to satisfy the intense and meticulous paperwork burden demanded by conventional underwriting.

Some bankers and mortgage loan officers may see this as competition that needs to be squashed. Forward thinking originators will see a huge opportunity to load their pipelines. For a start, this may be the last chance these sellers have to refinance and lock in more cash flow or tap equity in a lump sum. That’s immediate loan business. These buyers are also typically going to need a loan to cash out the seller in the next few years. Work with them, nurture them, and polish them as great borrowers, and you’ll have a mountain of easy business from loyal customers.

Interest Rates

Mortgage lead generation interest rates
Interest rates are probably going to keep going up. Everyone has beat the “it’s your last chance to refinance,” drum for years. A lot of those opportunities have passed. Yet, new purchase loans don’t have to die off. Whether it is first time buyer millennials and Generation Z, or buy and hold rental property investors, most of today’s buyers are thinking long term. They are focused on payment. Sell the payment, not the rate. For those focused on rate, offer buy downs to stay at or below that magic 5% number.

Digital Mortgages

digital mortgage lead generation
A lot of banks and mortgage brokers are struggling with the invasion of the ‘digital mortgage’ as seen on TV. Those who move quickly can jump on this trend, appeal to this new generation of borrowers and become a household name. Those who aren’t ready to go that digital yet, still have the opportunity to win all of the other business. The more data hacks, identity thefts and privacy scares there are, the more people are going want to deal with real professionals they can do business with over the phone and in-person. While the rest of the herd is rushing online, don’t be afraid to use your digital marketing to drive more personal interactions. Be unique and trusted in your market for your human service.

Social Media Marketing for Mortgages

social media mortgage lead generation
Social media spend is expected to rise 194% this year to $15B. Yet, most real estate and mortgage companies still aren’t getting the results they hope for from it. It works. It can work really well. It is all about quality content, reading the data right, and strategy. There are great opportunities to dominate target and local markets with coordinated multimedia campaigns that incorporate multiple social media platforms, email, text messages, SEM and SEO.

Using New Secondary Market Power Players as Deal Channels

new note buyers
2008 dumped millions of nonperforming loans and REOs into the market. Many of those have been snapped up by new note buyers. Many have become hyper successful and flush new powerhouses. They may be new channels to sell loans to. They are also high volume referral partners and clients with vast pools of loans they have successfully worked out or have foreclosed on. Refinancing, equity release loans, and partnering to be preferred mortgage lenders for their buyers are all options here.

Funding Investors Moving into New Markets

rising mortgage rental rates
Rental rates may be falling in Chicago, Brooklyn and San Francisco. They are also rising just as fast in other more affordable markets like Atlanta and Cleveland. Well qualified rental property investors are trying to expand into these markets fast, while spreads are still good. ATTOM Data Solutions reveals that “The biggest increase in market share over the past year has come among investors owning six to 10 single family rentals, followed by those owning between 11 and 100 rentals. These smaller to mid-tier investors are benefiting from newfound efficiencies in acquisition, financing and property management that allow them to buy outside their backyard in areas with higher potential returns, and to leverage their money to buy more properties.” This is a chance to serve them and be their lender of choice in their new markets. Markets which have often been less competitive for mortgage lenders.

Summary

While some mortgage houses may be scaling back staff in expectation of shrinking loan volumes, there are plentiful opportunities for those with the right tech, data, and a willingness to serve borrowers in new ways. This is the time to dominate new niches, and surprise them with service.

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