MORTGAGE LEAD GENERATION

CORPORATE INFO

Overview
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The US mortgage industry is going through a technological transition. Mortgage has been on the low priority in terms of automation and outsourcing in whole banking chain. But with increasing interest rates and competition, Mortgage banks are looking for ITO and BPO as long term strategic tools. India is fast becoming a Mortgage manufacturing hub, with its strong competitive advantage over other economies like China, Canada, Philippines etc.

The range of processes is being outsourced by mortgage lenders in three areas of the mortgage processing life cycle, from acquisition to origination to servicing. However, today the most mature market in terms of outsourcing is mortgage servicing. The loan processing is another area which can fetch in upto 50% of cost savings if off shored to destinations like India. Acquisition is another area with potential, particularly in areas such as analytics and lead generation. Companies like Equinox which have developed their competencies in Mortgage by running more than 32 different mortgage processes from their facility out of India has come up as leaders in Mortgage Process Outsourcing. Other sections of Mortgage Industry which will extend opportunity to outsourcing organizations will Brokers. We see lot of activities happening in area of lead generation and end to end loan processing.

One of the differentiators for future players will be strong domain expertise and solution based offerings which also help the client in possessing best practices into their processes and systems.

Mortgage Study
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As an Exclusive Mortgage Leads company and Customer Contact Center, we at I Source offer Telemarketing services for mortgage Lead Generation Programs that produce the highest conversion ratios in the industry. We specialize in Mortgage Lead Generation, Mortgage Live Transfer or Mortgage Hot Transfer leads, Loan Processing, Cash Out and Debt Leads. We work with clients to create a quality, custom-designed campaign that produces high conversion.

iSource performs contract mortgage processing services for mortgage brokers and lenders throughout the USA. Our teams of mortgage processors are experienced in Conventional, Sub prime, VA and FHA loans. Loan Processing avoids advertising, hiring and training mortgage processing staff.

Current business requires constant cost reduction, improved efficiencies and increased revenues. Business Process Outsourcing has become the new imperative. In order to meet these goals, BPO has increasingly become the preferred solution by leveraging global sourcing models built on global service delivery. We help our clients in making the right decisions and strategies at the right time.

Mortgage Lead Generation
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Exclusive, High Quality, Fresh Sales Leads for Mortgage Loan Officers Nationwide. We have specialized in telemarketing mortgage lead generation; we provide fresh, high quality mortgage leads to banks, brokers and loan officers. Our Mortgage Leads are qualified and close with consistency. Our telemarketers find prospect customers as per client’s requirement and capture following information. We deliver these leads real time (online) or in batch files.

Phone Verified Mortgage Leads available Nationwide for Mortgage Lenders and Brokers. We provide Exclusive Leads delivered real time on URL provided by client or in batch file after end of shift or within minutes after submission and verifying the Lead by calling them & confirming the details. All Mortgage Leads are generated from our Mortgage Call Center.

Features of our Mortgage Leads
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1. All mortgage leads are fresh.
2. All mortgage leads will have genuine interested prospect.
3. All mortgage leads will have been generated in the last 48hours, guaranteed.
4. All lead sources have been screened and quality verified to maximize quality.
5. All leads are "Do Not Call" and "CAN Spam" compliant.

Filters
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1. Minimum Interest rate: 6%
2. Minimum Loan Amount: 80k
3. LTV less than 85%
4. Minimum Interest Rate with cash out (10k) Refinance: Any
5. States: As per clients requirement.

Mortgage LIVE / HOT TRANSFER
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Hot/Live Transfers is a latest product in the call center industry which has been introduced for greater transparency between the call center and the mortgage broker. Live Transfer feature acts as a distribution gateway to increase productivity and optimize the lead transfer process by having the telemarketer, prospect, and the loan officer connect after pre-qualification.

In Live call transfers following steps are involved
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1. Prospects are called up in the call center and qualified as per the qualification criteria given by the Mortgage company.

2. If a prospect has qualified as per the criteria and is interested for the Mortgage product, immediately the call is transferred to the Mortgage Loan officer.

3. Live Transfer increases return on investment by contacting the borrower and transferring the prospect in real time via 3-way conference call.

There is a 3-way conferencing involved in this wherein the telemarketer, prospect customer and the Mortgage Loan Officer are simultaneously involved in the conference. Thus, the quality of the lead prospect is in front of the Call Center Agent and the Mortgage Loan officer. Nothing is left for the ambiguity.

Prospect Customer

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Eligible as per the basic criteria or client’s criteria and willing to talk to the LO or client to have further discussion on the deal offered by client.

Benefits of LIVE TRANSFER

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HOT/LIVE call transfers were designed to overcome the issues that cause the internet generated lead sources and other lead sources to fall below what is expected. There are many reasons why Live transferred leads are the most popular and successful marketing service available for mortgage brokers and bankers:

1. The leads are EXCLUSIVE. By receiving a live lead transfer you know the lead is exclusive to your company. With internet leads you are competing with sometimes several other loan officers for the same lead, even if the lead is sold as exclusive to you.

2. The leads are transferred to you LIVE. It is not a paper lead; you are buying an interested homeowner that has been outbound contacted by one of our TSR (Tele sales representative).

3. Live Call Transfers have a 100% contact ratio. It is sometimes more difficult to reach some paper leads on the phone. Again, our leads are calling you, which save you time and money.

Hot transfer Leads are transferred live and exclusive, they achieve the highest conversion rates in the industry.

Filters
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Exclusive Mortgage LIVE TRANSFER:

1. Minimum Interest rate: 6%

2. Minimum Loan Amount: 80k

3. LTV less than 85%

4. Minimum Interest Rate with cash out (10k) Refinance: Any

5. States: As per clients requirement

**We support our transfers with recordings and online data.

Mortgage Loan Processing
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Loan Processing: Our telemarketers do the whole processing (1003 form). Our Loan Officers get the whole processing done at our end. Find below:

Loan Processing Flow
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Taking 1003

Take all the information as per the deal and fill loan application. Loan Application contains:

Prospect Information

Type of Mortgage and Term of Loan

Property Information and Purpose of Loan

Borrower Information

Employment Information

Monthly Income and Combined Housing Expense Information

Assets and Liabilities

Details and Transaction

Declaration (Series of question)

Information for Government Monitoring Purpose

GFE (Good Faith Estimate)

  1. Items payable connection with loan
  2. Item required by Lender to be Paid Advance
  3. Reserve Deposited with Lender.
  4. Title charges.
  5. Government Recording and Transfer Charges.
  6. Additional Charges.
  7. *This Good Faith Estimate is being provided by Broker.

Truth In Lending

APR (Annual Percentage Ratio)

Rate Adjustments. (ARM Mortgage and Negative Mortgage)

Payment Schedule

Security

Pre-Payment

Received 1003 (Signatures of borrower and co-borrower)

Credit Pull

Documents required (Income Documents (W2, 1040, 1099, Award letter), Latest Mortgage Coupon, Home Insurance Declaration Page and Assets proof.)

Rate Lock

Order for Appraisal

Order for Title & Escrow

Order for VOM (Verification of Mortgage)

Order for VOE (Verification of Employment)

Loan Submission

Approval with condition’s Signing (After signing borrower will get 3 days of recession to think once again on the deal)

Funding

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