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Two Stats That Will Change Your Online Mortgage Lead Strategy

Posted by Jeff Schneider on Sep 25, 2013 1:54:00 PM

For more information on Lead Management, including how Mortech can help you generate and nurture more leads, click here.

 

Online Mortgage Lead Generation Strategy

More people than ever are going online to shop for mortgages. According to Lieberman Research Group, banks expect their online application volume to more than triple, while credit unions expect their online applications to grow from 20% to 31% of total volume. Because of this influx of online borrowers, it is imperative to have smart online lending mortgage software. Don’t believe me? Check out two stats that might change your mind. 

 

Statistic #1

 

A recent survey showed only 18% of lenders currently provide borrowers with “smart,” online mortgage applications, while 71% of banks surveyed say they plan on offering the technology in the near future. 

 

To handle these new online mortgage leads, it is necessary for lenders to implement robust prospect and lead management software to manage these leads. This brings us to Statistic #2

 

Statistic #2

 

According to InsideSales.com, the chances of reaching a new sales lead drop over 10x if you wait longer than the first hour of shown interest, and the odds of qualifying that lead decrease 6x after the first 60 minutes. 

 

How do I stay on the right side of the statistic?

 

Integrated with our Mortgage Pricing Engine, Mortech’s mortgage lead management software makes it easy to keep in constant contact with prospective borrowers throughout the entire loan process and help increase lead conversion rates. Our built-in sales dashboard allows lenders to manage leads, regardless of source, on one easy-to-view dashboard. Our newly released Dynamic Pipeline allows you to further prioritize those leads based on lead source, status, and loan characteristics, connecting you to your new leads faster, and helping you stay on top of your existing leads. Along with our integrated email marketing solutions and rate tracker solutions, Mortech provides a complete, end-to-end solution to help our customers increase their contact and pull-through rates significantly. 

 

In today’s competitive market, it’s more important than ever to engage your online mortgage leads. Your lead inventory means nothing without a reliable solution to manage and nurture those leads. We’ve received an overwhelmingly positive response from our lenders who are using our lead management solutions. Schedule a demo and let us show you how our Dynamic Pipeline and Lead Management solutions can help you engage your online leads.

 

Topics: Online lending and lead management

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