When it comes to Mortgage Lead Lists, you have no further place to look than the experts on the Dataman Group Team.
Data Dale’s Mortgage Outlook – Revised May 1, 2019
Mortgage rates haven’t been this low since the week of February 1, 2018, nearly 14 months ago. Mortgage rates recently hit a 63-week low and bottomed out near 4% as April began. It was the biggest drop in 10 years.
After sitting out most of 2018, home buyers and refinancing homeowners are re-entering the market due to 14-month-low rates and favorable programs – which means mortgage companies need to ramp up their marketing to take advantage of this opportunity.
- The Freddie Mac Enhanced Relief Refinance, or FMERR. This loan allows homeowners to refinance into today’s lower rates even if they are underwater on their mortgage.
- The High LTV Refinance Option, or HLRO, is a similar program that permits refinances for underwater homeowners whose current loans are owned by Fannie Mae.
We are also seeing zero-down loans and a loosening of guidelines that are offering mortgages, allowing higher debt-to-income ratios and lower credit scores.
Has there been a better time to be shopping for a mortgage rate? Not in recent memory. But things might not stay this way for long – which means marketers need to consider the mortgage lead lists they buy and strike while the iron is hot.
Creative Prospecting Ideas
For Refinances – Conventional refinance rates and those for home purchases are still low despite recent increases. With adequate equity in the home, a conventional refinance can pay off any loan type, including an Alt-A, subprime, or high-PMI loan.
Under the new Freddie Mac Enhanced Relief Refinance, homeowners can refinance a single-family home at current market rates even if they have little to no equity or the property is upside-down.. If a home is worth $300,000 and the homeowner owes $310,000, they can still refinance with FMERR, as long as they meet other guidelines. In essence, Freddie Mac is eliminating loan-to-value maximums for this loan type, which means marketers can select a list without LTV and expand their possible prospect universe.
Debt Consolidation / Equity Loan Offers – The average American has a credit card balance of $4,293, according to the latest Experian data. Total credit card debt is also at its highest point ever, surpassing $1 trillion, the Federal Reserve found. More than 1 in 3 people — or 86 million Americans — said they’re afraid they’ll max out their credit card when making a large purchase, according to a WalletHub credit cards survey. (Most of those polled considered a large purchase as anything over $100.) At the same time, credit card interest rates have never been higher. The average card interest rate is currently 17.41 percent, according to CreditCards.com’s latest report. That’s up from 16.15 percent one year earlier and 15.22 percent two years ago. If you are marketing debt consolidation / Equity Loan offers, you can select households with high debt.
For FHA loans – About 30% of all FHA loans are issued to applicants with scores below 650. No problem to order a list for people by credit score. This group receives less mail/ fewer marketing offers than prospective home buyers who typically qualify for conventional loans. Because of this, they are a great group to market FHA loans.
Latinos – According to the National Association of Latino Real Estate Professionals, Latinos were the only demographic group that increased its rate of home ownership for three consecutive years. Latino Home ownership actually accounts for nearly 75% of the net increase in US Home Ownership. This is a key market group that must not be overlooked and marketers can easily request Hispanic surnames on their mortgage prospect lists.
Millennials – the largest wave of New Home Buyers, representing 56% of last year’s home buyers. Millennials are now reaching peak home buying age which means that Mortgage Marketers need to reassess their marketing strategies to accommodate the preferences of Millennials. The First Time Home Buyer list is still the top list for new originations. Read DataDale’s latest article about Marketing Mortgage Products to Millennials.
With a little creativity, Mortgage Marketers can continue to prosper in today’s economy.
Focus your marketing on what would trigger the need for a mortgage
Top List Picks for May, 2019
- First Time Home Buyers – In 2018, first-time home buyers accounted for 56 percent of the loans used to purchase a single-family home and 39 percent of the sales. These Renters are taking advantage of affordable pricing on homes/condos and low rates on mortgages- these are top prospects for every mortgage company. The First Time Home Buyer overlay really separates the basic renter data by looking at age, income, marital status, length of residence, ethnicity, modeled credit and geography. As Millennials age up, this group will become a massive first-time home buyer segment.
- Renovation Loan Prospects – People are staying in their homes longer and taking out loans to renovate and remodel their homes. Many homeowners are also making upgrades to their homes to age in place.
- Equity Loan Prospects – Reach Homeowners with high equity in their homes who are carrying high revolving debt balances. Homeowners who are strapped for cash are good prospects for Equity Loans.
- Invitation To Apply Lists – These mortgage lead lists are for those mortgage companies looking for an alternative or supplement to prescreen data. Select options include modeled credit score, household demographics, and property criteria. Click HERE to read about the different between ITA lists and prescreen lists.
We offer mortgage lead lists for:
- Equity Loan Prospects
- FHA / VA Streamlining
- 125% LTV Prospects
- Reverse Mortgage Prospects
- Potential First Time Home Buyers
- Renovation Loan Prospects
- Seller Carry Backs -Private Note Buyers
Select from these high response mortgage lead lists and mortgage marketing list databases:
Have you Read the Mortgage Marketing Blog?
**Read Data Dale’s Blogs for the Mortgage Industry:
Marketing Mortgage Products to Millennials – May, 2019
Millennials are the Largest Wave of New Home Buyers – April, 2019
Mortgage Marketing Outlook – 1st Quarter of 2018 – January 2018
Will the Gig Economy Change Mortgage Lending? – August, 2017
Is 2016 the Year for Reverse Mortgages? – published Jan 2016
DataDale’s Mortgage Outlook for 2nd Half of 2016 – published 8/3/ 2016
New Hybrid Marketing Methods for Mortgage Professionals – published 1/15/2015
2015 Marks the Return of First Time Home Buyers to the Marketplace – published 1/2/2015
What We Can Learn from the 2014 Fannie Mae National Housing Study – published 9/29/14
New Home Purchase Leads for Mortgage Brokers & Loan Officers – published 4/1/14
Mortgage Direct Mail – Can It Rebound? – published 8/14/14
Mortgage Mailers – Are You Barking Up The Wrong Tree? – published 9/26/13
How Mortgage Mailers are Generating New Leads with Direct Mail – published 1/16/2014
Click here to read the 2017 Housing Study by the US Census Bureau
Telephone numbers are available on most mortgage lead lists, so you can request mortgage telemarketing leads in your market. Federal, State and DMA Do Not Call Lists are flushed from our files. Federal SAN required for all telemarketing lists.
Dataman Group offers a full suite of mortgage lead lists, refinance lists, mortgage mailing lists, mortgage insurance leads, renters, first time home buyers, qualified mortgage lists, renovation loan prospects, private note holders, seller carry backs, FHA-VA loan lists, HELOC Conversion lists, lists of Millennials as well as modeled credit score lists.