Lenders Close More Loans Using Analytics on Leads
The mortgage industry is changing. As rates rise, the market is becoming much more competitive and origination rates are dropping. Increased competition will cause some lenders to go out of business, while others will increase loan funding and capture more market share. The lenders that thrive will be the ones using lead analytics to help them maximize their results from their marketing spend.
For example, lenders know the percentage of purchased leads that they funded; however, they do not know the true funding rate of those same leads with competitors. In other words, if I didn’t fund the lead, then who did, when did it occur, and what loan product did they sell to that specific consumer?
These answers are available to the lending community today. With lead analytics, a savvy lender can know exactly the effectiveness of every lead purchase dollar spent, as well as the complete competitive landscape.
iLeads.com Pioneered Lead Analytics with LeadXL products
Leads work. Period. The question has always been which are the good ones, and which are not so good? Which do you call now, and which do you call later? Some lead sources fund at a higher level than others, and with a different loan product mix.
LeadXL lead analytic products were developed to help lenders answer those questions today. Using title, tax, deed, valuation, property and combined with proprietary analytics, LeadXL helps lenders analyze and pinpoint opportunities that others will miss. LeadXL works with any lead source and only requires a valid postal address and name to process.
Today, over 1.5 million mortgage loan leads run through the LeadXL data platform (comprising nearly 90% of the Internet mortgage lead volume), giving a greater knowledge of who is funding, what is funding, and how many leads are funding than any other source.
LeadXL Can Help Lenders Get More Efficient in a Harder Market
Our data drives lead conversions by the largest lenders today, and we can help you too. We have several LeadXL lead analytic products to meet your needs, including LeadXL GateKeeper and LeadXL Revive.
LeadXL GateKeeper analyzes every lead with 271 current lien and value data points in real time, routes leads based on the quality of the underlying collateral and provides detailed lending scenarios from any lead source.
LeadXL Revive can breathe new life into a database of aged prospects or past clients by analyzing every record in a lender’s database to identify today’s opportunities and bring partial, incorrect or incomplete lending leads back to life.
Get smarter with your marketing spend today by calling iLeads.com at (877) 245-3237.
