I am a new loan officer. I wanted to know if i was to order 100 mortgage leads, how many would i get funded?

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I am a new loan officer. I wanted to know if i was to order 100 mortgage leads, how many would i get funded out of 100 leads what would be the percentage? thank you

  1. Reply
    January 29, 2011 at 10:29 pm

    Nobody can answer this, because it’s up to you to “work” those leads.
    In general, if you get 3 or 4 out of a hundred, it’s considered a very good result.

  2. Reply
    Jennifer H
    January 29, 2011 at 10:55 pm

    It really depends. Where are you getting the leads–they are leads. The lead source is very important–what type of credit do these people have?

    If you talk to 20 a day, let’s say 4-5 are interested in working with you. It’s a process, not everyone that you work with will be approved either. It depends on each bank’s guide lines.

    Good Luck!

  3. Reply
    jake shim
    January 29, 2011 at 11:51 pm

    Depends how many times your going to contact those leads. The odds increase the more you call. With my LOs I require the leads to be called at least 6 times before it rotate to the next LO. With mailers, the percentage can range from 2% to 4% for closing. Far as leads, I haven’t touched them for awhile. Every 5 leads I would get one complete package. If there 4 packages submitted to the lender then I expect 2 loans to fund. I do not trust the marketing people who sale me the leads, they’re just there to sale you the leads.

    2 years ago I had no money to buy quality leads. Instead I bought boxes of dead files and funded files from a broker that went out of business. I realized at that point old leads were good as new leads. This is contact game, the more the better.

  4. Reply
    January 30, 2011 at 12:23 am

    depends on how much experience you have..and who you’re ordering from.

    i order mine through an ARM company…they provide really good leads..and about 6-7% funding

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